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Navy Federal Credit Union Refinance Review
Key Statistics
Total Originations
97,991
HMDA 2023
Avg Loan Amount
$0
National average
Denial Rate
0%
National average
States Active
10
With HMDA filings
At a Glance
Min Credit Score
580
Loan Types
Conventional, VA, Jumbo
Notable Features
- No PMI on VA loans
- Military-focused loan products
- Flexible credit requirements for members
HMDA Lending Data
Top states by refinance origination volume. Source: HMDA 2023
Pros and Cons
Pros
- +Excellent VA loan terms with no PMI
- +Lower credit score requirements for military members
- +Consistently high customer satisfaction ratings
Cons
- -Membership limited to military, veterans, and families
- -No FHA or USDA loans
- -Branch locations concentrated near military bases
Frequently Asked Questions
Is Navy Federal Credit Union good for refinancing?
Navy Federal Credit Union is rated 4.6/5 on Wirly and is best suited for borrowers looking for military and va loans. They processed 97,991 refinance originations nationally in 2023, according to HMDA data.
What credit score do I need for Navy Federal Credit Union?
Navy Federal Credit Union requires a minimum credit score of 580 for mortgage refinancing. However, better rates are typically available for borrowers with scores of 740 or higher.
What loan types does Navy Federal Credit Union offer?
Navy Federal Credit Union offers Conventional, VA, Jumbo refinance loans. VA loans are available for eligible military members and veterans.
What is Navy Federal Credit Union's denial rate?
Navy Federal Credit Union's national refinance denial rate is 0%, based on 2023 HMDA data. Denial rates vary by state and borrower profile.
How does Navy Federal Credit Union handle complaints?
CFPB complaint data for Navy Federal Credit Union can be found on the Consumer Financial Protection Bureau's complaint database.
Ready to explore Navy Federal Credit Union?
Visit their site to check current rates, or use our tools to compare.
This review is for educational purposes only and does not constitute financial advice. HMDA data sourced from the CFPB. Complaint data from the CFPB Consumer Complaint Database. Wirly is not a lender or mortgage broker. See our methodology.