Navy Federal Credit Union Mortgage Refinance review

Navy Federal ranks first because it posted the lowest refinance APRs we could verify and shows them openly by term. On Nov 13, 2026, its refinance page listed 30-year VA loans as low as 6.250% with a 6.738% APR, 15-year VA loans at 5.750% (6.492% APR), and conventional 30-year loans at 6.750% (6.923% APR). VA cash-out loans can reach 100% of the home's value, and the Homebuyers Choice and Military Choice options refinance up to 97%. The No-Refi Rate Drop lets eligible borrowers cut their rate later for a $250 fee instead of paying for a new refinance. Read the footnotes: posted rates require a 1% origination fee, which can be waived for a 0.25% higher rate, and the conventional 30-year figure assumes a 780 FICO score. Membership is open only to the armed forces, the Department of Defense, veterans and their families, so many homeowners cannot apply.

Who it is for

military members, veterans and their families

Price

30-year VA refinance as low as 6.250% (6.738% APR), conventional 30-year 6.750% (6.923% APR), as of Nov 13, 2026.

15 Year 5.750% 0.750 6.492% 30 Year 6.250% 1.000 6.738% Rates as of Nov 13, 2026 ET.
Quoted from the vendor pricing page on November 13, 2026.

Key features

• 30-year VA refinance as low as 6.250% interest and 6.738% APR with 1 discount point as of Nov 13, 2026
• Conventional 30-year refinance as low as 6.750% (6.923% APR) and 15-year as low as 6.250% (6.448% APR)
• VA cash-out refinance of up to 100% of the home's value
• Homebuyers Choice and Military Choice refinances of up to 97% of the home's value
• No-Refi Rate Drop on eligible loans: lower the rate later for a $250 fee

Strengths and weaknesses

• Strength: Lowest posted 30-year refinance APR on this list at 6.738% for VA loans
• Strength: VA rates cut by 0.25% for Veterans Appreciation Month, already reflected in the table
• Strength: Rates are posted in plain tables by term, with points and APR side by side
• Weakness: Membership is limited to the armed forces, the DoD, veterans and their families
• Weakness: Posted rates require a 1% origination fee, or a 0.25% higher rate to waive it
• Weakness: The conventional 30-year rate assumes a 780 FICO score and 75% loan-to-value

Key facts

• 30-year VA refinance: 6.250% rate, 6.738% APR
• 30-year conventional: 6.750% rate, 6.923% APR
• Origination fee: 1%, or waived for +0.25% rate
• Max cash-out (VA): Up to 100% of home value

Where it ranks

Navy Federal Credit Union Mortgage Refinance is No. 1 in our Best Mortgage Refinance Lenders verdict.