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.
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.
