Navy FCU Will Cover Closing Costs

Navy Federal Credit Union, Vienna, Va., is offering to pay up to $2,500 in closing costs for its mortgage borrowers; the offer covers both purchase and refinance transactions.

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The promotion, according to a press release is “for a limited time only.”

“This promotion can be used towards a member’s closing costs or as credit for the fees that are paid outside of closing costs like the appraisal fee or a credit report,” said Barbara Sheehan, assistant vice president, mortgage products.

According to National Mortgage News/Quarterly Data Report, Navy Federal was the 28th largest originator in the nation for the first quarter with $1.1 billion in mortgage loans funded. It is the nation’s largest credit union with 3.7 million members and $46 billion in assets. Despite its name, Navy Federal membership is open to all Department of Defense military and civilian personnel.

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Article source: http://www.nationalmortgagenews.com/dailybriefing/2010_409/navy-fcu-cover-closing-costs-1026101-1.html

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