NASA Federal Credit Union, Upper Marlboro, Md., said it will begin offering 100% financing on mortgages in the greater Washington, D.C. metropolitan area, which is considered one of the better housing markets in the U.S.
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The credit union will lend up to $650,000 and will not require private mortgage insurance. On refinancings, it will offer 95% LTV financing — also without PMI.
The two mortgage products are available to consumers in Maryland, Washington, and the District of Columbia.
"Changing times call for innovative and flexible mortgage products," said Doug Allman, president of NASA Federal.
