Navy Federal Homebuyers Choice Loan
A Navy Federal 30-year fixed mortgage with a 0% down option and no PMI. Choice loans have disclosed origination and funding-fee terms, and membership and credit approval are required.
- Down payment
- A no-down-payment option is available for qualifying purchase loans in most states; 100% financing is offered.
- Credit context
- All loans are subject to Navy Federal credit approval. The official page does not state a universal minimum score; its advertised-rate example assumes a 720 FICO but is not an eligibility floor.
- Income rules
- The official product page does not publish an income cap. Navy Federal membership is required.
Individual lenders set the interest rate, fees, mortgage-insurance treatment, and final approval requirements. Compare written Loan Estimates before choosing.
How repayment works
Your monthly housing payment usually includes principal and interest, and may also include property taxes, homeowners insurance, mortgage insurance, and association fees. Your lender’s written Loan Estimate and Closing Disclosure control the actual costs and terms.
A lower advertised down payment does not necessarily mean the lowest monthly payment or lowest total cost.
Who it may fit
A Navy Federal 30-year fixed mortgage with a 0% down option and no PMI. Choice loans have disclosed origination and funding-fee terms, and membership and credit approval are required.
These are situations worth exploring, not a qualification decision.
What could rule it out
- The issuing body does not set a single credit floor; each lender sets its own.
- Repeat buyers may use this loan type, subject to the other rules.