Special Update Regarding Mortgage Inquiries

Due to a large number of mortgage applications at this time, it may take longer than usual for us to respond. Please be patient, a loan officer will contact you regarding your application as soon as possible.

 

Get a jump on the spring home buying market

It doesn't look or feel like spring right now but, believe it or not, now is the time to get ready if you're thinking of buying a home this year. We can help you save time and money every step of the way with low rates, cash rewards1, no down payment2 options, and personal service.

  • Earn Cash Rewards1 and save thousands when you buy and/or sell a home with an approved HomeAdvantage® agent.
  • Get a FREE pre-approval and let sellers know you’re serious.
  • Low rates will help you save on your monthly payment.
  • No down payment2 mortgage options including Homebuyer's Edge3 in which well-qualified borrowers can benefit from 100% financing and lender paid mortgage insurance (PMI).
  • Get help selecting an expert agent who will make finding your perfect home an enjoyable experience.
  • Earn bonus points on NOW REWARDS credit card4 with a Northwest Federal mortgage. Get 1,000 points for every $10,000 borrowed to up a maximum of 10,000 points.
  • Enjoy excellent service every stop of the way along with the Timely Closing Guarantee5

Questions? Make an appointment

Apply today!

Real Estate Center

Home Buying Steps

Search. Buy. Sell. Save. 

Ready to buy a home? Northwest Federal is here to help. From finding the home of your dreams to financing it, we want to make every step in your home buying journey as easy and affordable as possible. We can help you:

Get pre-approved
Get pre-approved
Before you start serious house hunting, find out how much house you can afford with a free pre-approval. Apply today.
 

Select an agent
Select an agent
Need help selecting a real estate agent? The HomeAdvantage® program has experienced agents to help you buy or sell. Learn more and enroll today in this free service.
 

search for a home
Search for a house
Find your next home by searching current MLS listings made available through HomeAdvantage®. Then, save your favorite searches and get email alerts when new properties come up. Start searching today. 
 

Learn about our mortgage options
Learn about our mortgage options
Meet with one of our mortgage lending representatives (in-person or by phone) who will help you decide which mortgage option works best for you. Make an appointment.  
 

cash rewards
Earn Cash Rewards1
Buy or sell a home with a HomeAdvantage® agent and get a rebate at closing - you could save thousands! Estimate your cash reward.

See What You Could Earn in Cash Rewards*

HOME SALE PRICE  CASH REWARDS1 
   $200,000     $1,200
   $300,000     $1,800
   $400,000     $2,400
   $500,000     $3,000
   $600,000     $3,600
   $700,000     $4,200
   $800,000     $4,800
   $900,000     $5,400
  $1,000,000     $6,000


*Examples of Cash Rewards shown here are based on 3% commission rate; your agent's commission rate may differ.
 

home insurance
Request a home insurance quote
NW Insurance Agency2 can help you find the best rates for your home insurance coverage. Request a quote.
 

Closing
Get ready to close on your new home
Northwest Title & Escrow3 handles all aspects of real estate transactions, including title insurance, real estate closing and settlement and escrow services for real estate transactions in Virginia, Maryland and the District of Columbia. Learn more.
 

Take advantage of our free seminars and webinars on home buying. All events are open to the public.

1The HomeAdvantage program is made available to you through a relationship with CU Realty Services. Program Cash Rewards are awarded by CU Realty Services to buyers and sellers who select and use a real estate agent in the HomeAdvantage network and are based on the commissions paid to the agent. Using Northwest Federal for a mortgage is not a requirement to earn Cash Rewards. Northwest Federal may have specific rules on how your Cash Rewards will be paid out. Cash Rewards incentives are void where prohibited by law.
2 Insurance products and services are offered through NW Insurance Agency, a subsidiary of NW Capital Management  (a wholly owned subsidiary of Northwest Federal Credit Union). At this time NWIA, together with its network of licensed insurance associates, provides auto and home insurance to residents in all but the following states: AL, AK, IA, MS, NB, ND, SD, WY. Coverage and discounts are subject to individual qualifications, state availability and the insuring company’s underwriting guidelines. Insurance is not underwritten, issued or guaranteed by NCUA or any other federal government agency.
3 Northwest Title & Escrow is a subsidiary of NW Capital Management

No & Low Down Payment

Northwest Federal is making home ownership more affordable than ever with these mortgage options:

  • 100% Financing1

Qualified borrowers can purchase a home with no money down! Our 100% Financing option is available on primary residence properties (single-family, townhome, condominium) on loan amounts up to $650,000. This mortgage option also features a fixed-rate term—your rate will never increase for the length of the loan. 

  • Homebuyer’s Edge2

Well qualified borrowers will benefit from this 100% financing option in which Northwest Federal pays the private mortgage insurance (PMI) on the borrower’s behalf.

With Homebuyer’s Edge, you’ll:

  • Save on out-of-pocket costs since no down payment is required
  • Save on monthly payments with Lender paid Private Mortgage Insurance
  • Enjoy peace of mind with a fixed-rate loan that will never increase for the length of the term

Homebuyer’s Edge mortgage option is available on primary residence properties (single-family, townhome, condominium) on loan amounts up to $650,000.

  • 3% Down1

Our 3% Down financing option is available for first-time home buyers (and repeat buyers) purchasing a primary residence (single family, townhome or condominium). It's a great solution for buyers who want less out-of-pocket expense when purchasing a home—the down payment amount can even be a gift from mom and dad! 

  • Programs available to assist with funds for down payment and closing costs

Learn more about these programs designed for low and moderate income level first-time homebuyers and public service workers. 

  • Family Share Secured Loan3

This option lets first-time buyers obtain a mortgage with just a 5% investment of their own funds, provided they have a family member willing to provide the additional 15%. When you combine the two, it equals a 20% down payment—saving the home buyer from having to purchase Private Mortgage Insurance.

1 Not all borrowers will qualify; credit qualifications apply. 
2 Not all borrowers will qualify for Homebuyer’s Edge; credit qualifications apply.  Private Mortgage Insurance (PMI) is required to be paid by the lender.
3 Normal terms and conditions do apply. Not all borrowers will qualify. Family members as defined by Fannie Mae, include: borrower's spouse, child or other dependent or by any other individual who is related to the borrower by blood, marriage, adoption or legal guardianship; or a fiance, fiancee, or domestic partner.

Purchase & Refinance

When it comes to buying a home, we have a variety of mortgage options and we’ll work with you to see which one fits you best:

•    Fixed-rate mortgage – Get peace of mind knowing your interest rate will never increase for the term of your loans. We have no and low down payment purchase options available, including the 100% Homebuyer’s Edge.

•    Adjustable rate mortgage – Enjoy generally lower monthly payments than a fixed-rate loan and increase the amount of home you can afford with our Adjustable Rate Mortgages (ARMs). The lower introductory interest rate will periodically adjust with changing market rates, depending upon the type of ARM you choose.

•    High-Balance Loans – Buy or refinance in high-cost areas with High-Balance loans limits between $453,100 - $679,650 (maximum loan amount is determined by the county where the property is located and the number of units being purchased). Limit for contiguous states only.

•    Jumbo Loans – In the market for a mortgage on a high-end home, turn to Northwest Federal for fixed-rate and adjustable-rate Jumbo Loans up to a maximum loan amount of $2 million.

•    VA Loans – An affordable way for active duty service members, veterans, and eligible surviving spouses to purchase, refinance, or improve their existing home. Money-saving benefits include:  no down payment, fixed-rate terms and no Private Mortgage Insurance. A Certificate of Eligibility (COE) for the program is required. 

•    HomeReady™ Affordable Mortgage – This fixed-rate mortgage option features expanded eligibility for the diverse needs of today’s buyers and has several borrower benefits when compared to a FHA Loan, including: 3% down payment (gift funds allowed), reduced mortgage insurance coverage requirements, and flexible sources of income to meet eligibility requirements. Income restrictions apply and not all borrowers will qualify. To see if you qualify, apply online today. HomeReady™ Mortgage applicants must take an online home ownership class and present completion certificate to lender upon closing. Register now for the online course provided by Framework. 

•    Investment Property - We offer purchase and refinance Investment Property mortgage loans with 10 or 15-year repayment terms. Get a customized rate quote for more information. 

•   Reverse Mortgages - We’ve partnered with Credit Union Mortgage Association to offer reverse mortgages* for home-owning members age 62 and older. If you’re interested in converting your home’s equity into cash or a line of credit with a reverse mortgage, email our lending professionals to learn if this option is available in your area.

*Available in VA, MD, DC, WV, FL, GA, NC, SC, PA, TN, IL and OH
 HomeReady™ is a trademark of Fannie Mae. 
Apply Today

Home Equity & Land Loans

Home equity loans and home equity lines of credit (HELOC) can be used for home improvements, major purchases and debt consolidation. Since an equity loan or HELOC uses your home as collateral, the interest rate is generally lower than other types of loans—saving you money. Plus, the interest may be tax deductible*.  Compare the features, check rates and apply today! 

Land Loans** - Finance the purchase of unimproved land up to 20 acres for the site of your dream home or for recreational purposes. Apply online for competitive rates and terms.  

*Consult your tax advisor for details. 
**Maximum loan amount of $200,000.

New Construction

Let Northwest Federal help you build your new home!

When it comes to planning and building your new home, you’re busy enough without having to worry about your financing. Our Single Close Construction Loan, available in Florida, North Carolina and Virginia, simplifies the loan process and saves you time and money.

When you use Northwest Federal to finance your new home construction, you’ll:

  • Get a free pre-approval
  • Apply, close, and pay closing costs just once
  • Save on out-of-pocket costs with only 20% down payment required
  • Enjoy interest-only payments during construction
  • Have no pre-payment penalty to worry about should you pay your loan off ahead of schedule

To apply for new construction financing, you’ll need:

  • A signed contract with a contractor or builder
  • Plans, specifications and cost breakdown
  • Your personal information, including the source of funds for your down payment and proof of income

Contact us today to begin your application:

In Florida, call Chris Ballard: 321-594-1346

In North Carolina, call Kim Evans: 919-500-6272

In Virginia, call Vinnie Porto: 703-709-8900 x4705

Or, complete our online appointment request form and one of the above mortgage lending representatives will be in touch with you shortly.

1 The HomeAdvantage program is made available to you through a relationship with CU Realty Services. Program Cash Rewards are awarded by CU Realty Services to buyers and sellers who select and use a real estate agent in the HomeAdvantage network and are based on the commissions paid to the agent. Using Northwest Federal for a mortgage is not a requirement to earn Cash Rewards. Cash Rewards incentives are void where prohibited by law. The HomeAdvantage program is not available in all states.
2 Not all borrowers will qualify; credit qualifications apply. 
3 Homebuyer's Edge is available on primary residences (single-family, townhome, condo) with loan amounts up to $650,000. Private Mortgage Insurance (PMI) is required to be paid by the lender.
4 Bonus points will be added to your NOW REWARDS account upon obtaining a qualifying Northwest Federal mortgage. Some restrictions apply. Not valid on refinance of an existing Northwest Federal loan. Must be NOW REWARDS cardholder prior to closing on mortgage to receive bonus points. Offer valid as of 2/1/2020 and subject to change. 
5 Timely Closing Guarantee applies to all purchase money applications for a limited time only. Closing date must be at least thirty (30) days from the date NWFCU receives the completed application and a copy of a fully executed contract to purchase. If closing delay is due to circumstances under the control of NWFCU a lender credit of $500 will be applied towards the closings costs illustrated on the Loan Estimate (LE). If seller paid (per the contract) closing costs and pre-paid items result in less than $500 remaining in borrower costs, Northwest Federal will only provide a lender credit for the amount owed by the borrower. Cash back to borrowers is not allowed. To qualify for the guarantee all circumstances resulting in a missed closing date must have been under the control of NWFCU. Delays must not be associated with third party approvals and/or service providers and/or applicant time delays in providing prompt and complete information and documents as requested. Borrowers must supply all information and documentation within two business days (Monday - Friday) of the request by a NWFCU mortgage representative. NWFCU and/or Appraisal Management Company (AMC) must be in receipt of the non-refundable appraisal fee within three business days (Monday - Friday) of the appraisal order. Appraisal appointments must be accepted by the sellers or their representative for the earliest available scheduled day and time from the assigned appraiser. Any cancellation or no-show by the sellers at the agreed upon day and time will void the NWFCU guarantee. The closing may be delayed due to inclement weather, a natural disaster, or other emergency outside of NWFCU’s control. The appraisal report on the home must assign a value to the home equal to or greater than the purchase price of the home and be acceptable to NWFCU. All loans are subject to final credit approval. Limited time offer.