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NFCU Projects $10B in Mortgage Closings for 2012

In Virginia, ""Navy Federal Credit Union (NFCU)"":https://www.navyfederal.org/ is celebrating the final weeks of the year with record closing volume.


Recently announcing that the organization's total mortgage loan closings for October hit $1 billion, NFCU reported that year-to-date, it has made more than $8.3 billion in mortgage-related funding available to consumers.


""Having ample products, competitive rates and specials like offering to pay up to $2,500 in closings costs are a must in matching members to mortgages that suit their budget. But by far, being able to offer a 'no money down' option is a difference maker,"" said Jack Gaffney, EVP of lending for NFCU.

By the end of 2012, the credit union projects that it will have booked more than $10 billion in mortgage loans. In an official statement, NFCU noted that one of the keys to the organization's success has been the ability to offer a 100 percent financing alternative for purchasing a home; NFCU remains one of the few lenders still providing this option to borrowers.

Continuing his commentary, Gaffney added, ""For us, huge mortgage success means that we've put thousands of families in new homes or placed them securely in their current ones, and, that we're doing absolutely everything we can to find the exact right mortgage or refinance option to fit our members' needs.

""Making homeownership possible is a privilege,"" he concluded.

About Author: Abby Gregory


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