PenFed, or Pentagon Federal Credit Union, has said it is running a limited time promotion that will see it waive the origination fee requirement on its VA 15-year and 30-year fixed mortgages. The lender's usual origination fee is 1% of the loan.
The promotion will be available for eligible veterans looking to secure a VA mortgage for a primary purchase or refinance, and refinances on existing VA mortgages are available on second homes and investment properties.
“This is a very exciting promotion that we are running on our VA mortgages,” Craig Olson, senior vice president of mortgage operations at PenFed, said. “PenFed is committed to its military members, and when you stop to consider how much the origination fee waiver will save our qualified veterans, the savings really are quite outstanding.”
A Virginia-based lender has announced a promotion to waive origination fees on its