Those of you who are PenFed members, you can get a special online only rate of 3.99% on their 120 month fixed rate Home Equity Loan(HEL). This is a Fixed Rate Home Equity Loan which is just like a refinance on your mortgage except that there is no closing costs whatsoever. If you do get this HEL, they will give you a lump sum up front and you make fixed payment each month for 120-month. I intend on joining PenFed since it’s really easy to join.
Here’s how to join:
Pentagon Federal Credit Union, or Penfed, is the third largest credit union in the country. With over $9 billion in assets and 714000 members, they offer some of the best Home Equity Loan, Home Equity Line of Credit, and Car Loan rate in the country. The best part is anyone can join!
If you are affiliate in any way with the military, then check this application page. However, people who has no affiliation with the military can become eligible by joining the NMFA association. Joining NMFA will cost you a one time fee of $20. There is no need to renew membership.
Start at your online application page, then join the NMFA and Penfed, and fund your account with $5 via credit card. You will select a PIN number, and then receive a membership number. You will receive all your membership info in three days to your address.
Some great PenFed Credit Cards Offers:
The PenFed Platinum Rewards Card gives you Everyday 5% cash back on gas purchases(*pay at pump), 2% cash back on supermarket purchases, and 1% cash back on everything else. It’s credited monthly on your next statement.
PenFed Premium Travel Rewards American Express® Card gives you 5x Points on Airfare, get 3x Points on Dining and Hotels, and Points on Everything Else. Also, receive 20,000 bonus points when you spend at least $650 in the first 3 months – that could be enough for a free airline ticket. Use the points you earn to redeem for one of many other travel and retail items within the PenFed Premium Rewards program