Zero down.No PMI. Members only.
Homebuyers Choice is Navy Federal's zero-down loan for members. The real decision is 0% down with a 1.75% funding fee or 3% down with the fee waived, and the math below shows exactly what each one costs.
Our comparative assessment: cash saved 40%, ease 25%, speed 15%, fewer strings 20%. Full rankings
Homebuyers Choice is a Navy Federal Credit Union mortgage available only to members. It offers a 0% down option, no PMI and a fixed rate. There is a 1.75% funding fee, and Navy Federal waives it when the buyer puts 3% down. Membership is open to Department of Defense and Coast Guard active duty, veterans, civilian and contractor personnel, and their families.
Who qualifies.
- Navy Federal Credit Union members only.
- Department of Defense and Coast Guard active duty.
- Veterans.
- Department of Defense civilian and contractor personnel.
- Family members of those groups.
- Approval follows Navy Federal's own credit and income standards.
How it works.
Become a member
Membership comes first. The loan is not available to non-members.
Pre-approval with Navy Federal
Navy Federal reviews income, debts and credit for Homebuyers Choice.
Decide: 0% or 3% down
0% down carries the 1.75% funding fee. 3% down removes it. The right answer depends on cash on hand and how long the buyer plans to own.
Offer, appraisal and underwriting
The contract, appraisal and final underwriting run through Navy Federal.
Close
A first home closed by December 31, 2026 on an eligible loan qualifies for Navy Federal's $1,000 thank-you.
0% down vs 3% down on a $350,000 home
Example only. Fee figured on the $350,000 price for illustration. Putting 3% down takes $10,500 of cash and avoids a $6,125 fee, so it costs $4,375 more upfront, but that $10,500 goes into equity and the buyer borrows $10,500 less. Rates, taxes, insurance and closing costs vary and are not shown. Terms as of October 11, 2026.
Direct Navy Federal links for membership and Homebuyers Choice, the 0% vs 3% down comparison for the buyer's price range and a side-by-side with VA when eligible.
What works
- 0% down option for members.
- No PMI, even at 0% down.
- Fixed rate.
- The 1.75% funding fee disappears with 3% down.
- No-Refi Rate Drop option for $250.
- $1,000 thank-you for a first home closed by December 31, 2026 on an eligible loan.
What it costs you
- Members only: no membership, no loan.
- At 0% down the funding fee is $6,125 on a $350,000 home.
- Only Navy Federal offers it, so there is no shopping the same product across lenders.
- Approval and pricing follow Navy Federal's own standards.
The part nobody explains.
This is not a VA loan. It is Navy Federal's own product. That matters for family members and DoD civilians who are not VA eligible: membership can open a zero-down path the VA does not.
The 3% threshold is the breakpoint. On a $350,000 home, $10,500 down replaces a $6,125 fee. A buyer with the cash converts a fee into equity.
Navy Federal lists a No-Refi Rate Drop option for $250. Its terms and timing are set by Navy Federal and belong in the conversation before locking.
Veterans eligible for both VA and Homebuyers Choice can compare them side by side. Veterans receiving VA disability compensation pay no VA funding fee, which changes the comparison.
Get the packet.
The official links are not on this page on purpose. They come in one email, organized, with what to do with each one and in what order.
- Direct Navy Federal links for membership and Homebuyers Choice, the 0% vs 3% down comparison for the buyer's price range and a side-by-side with VA when eligible.
- Every official link for this program, plus the links for every guide you explored here
- A match with a Texava-vetted lender who closes this program
- A direct reply from Albert in English or Spanish
Where should I send it?
Your packet is on its way.
Every guide you explore before you leave gets added to the next packet. Keep reading below.
Programs stack.
Side by side.
The Texava Score weighs what matters to a buyer: cash saved 40%, ease to qualify 25%, speed and paperwork 15%, fewer strings 20%.
Asked most.
Do I need to be military to get Homebuyers Choice?+
No, but membership is required. It is open to DoD and Coast Guard active duty, veterans, DoD civilian and contractor personnel, and their families.
Is there PMI?+
No. Homebuyers Choice has no PMI.
How do I avoid the 1.75% funding fee?+
Navy Federal waives it with 3% down.
What is the No-Refi Rate Drop?+
An option Navy Federal lists on Homebuyers Choice for $250. As the name says, it is a rate drop without a refinance. Navy Federal sets the terms for when it applies.
What is the $1,000 thank-you?+
Navy Federal offers $1,000 for a first home closed by December 31, 2026 on an eligible loan.