PENFED CREDIT UNION SHARES HOW SMART HOMEBUYERS CAN SAVE BIG BY STARTING THEIR HOME SEARCH WITH THEIR LENDER

A National Open House Weekend is scheduled Oct 23 -25 to help educate homebuyers on how to save thousands in closing costs with the Very Important Buyer Program¹

TYSONS, Va., Oct. 20, 2026 /PRNewswire/ -- As prospective buyers prepare to tour homes during National Open House Weekend, Oct. 23–25, PenFed Credit Union is encouraging them to take an important first step: speak with a mortgage lender before beginning their search.

A recent market research survey found affordability remains the leading homebuying concern, with 30% of respondents citing the ability to afford a new home as their biggest worry. Another 24% fear overpaying, while 28% worry they could miss a lower price by waiting. The online survey was commissioned by PenFed and conducted by Atomik Research and included 1,000 adults throughout the United States.

Although buyers have traditionally found a home or real estate agent before contacting a mortgage lender, the survey indicates many are open to a different approach. Three in four respondents said it would be helpful for their mortgage lender to connect them with a trusted real estate agent. The added benefit of starting with the mortgage lender is that this approach can help buyers save thousands in closing costs.

"National Open House Weekend is a great opportunity to explore what is available, but buyers can get more from every tour when they understand their budget and financing options first," said Mark Burrage, Senior Vice President, Head of PenFed Home Product and Strategy at PenFed Credit Union. "Connecting with a lender early can help homebuyers set realistic expectations, move with confidence and be better prepared when they find the right home."

The Atomik Research survey also found that buyers value practical support that can reduce costs and simplify the process. When asked what matters most in a homebuying program, 31% selected closing cost benefits and 30% chose help finding a trusted real estate agent.

PenFed's Very Important Buyer program¹ brings those benefits together by pairing eligible buyers with a network real estate agent and PenFed's mortgage team^*. Through the program, buyers can receive guidance throughout the homebuying journey and save thousands of dollars in closing costs. An important added benefit of the VIB program¹, particularly in the current rate environment, is that VIB's are eligible for a no cost Refinance if they choose to refinance their loan with three (3) years of purchase.

During National Open House Weekend, PenFed encourages prospective homebuyers to:

• Connect with a mortgage lender early to understand a comfortable monthly payment and potential financing options.
  
  
• Ask questions about closing costs, timelines and the documents needed to move forward.
  
  
• Work with a trusted real estate professional who understands local market conditions.
  
  
• Tour homes with a clear budget and a list of must-have features.

"Our mission is to help members make informed financial decisions at every stage of life," Burrage said. "By bringing lending guidance, real estate expertise and meaningful savings together, PenFed can help make the path to homeownership clearer and more manageable^*."

To learn more about National Open House Weekend, visit nationalopenhouse.com. For information about PenFed mortgage options and resources, visit penfed.org/mortgage.

About PenFed Credit Union

Established in 1935, Pentagon Federal Credit Union (PenFed) is one of America's largest federal credit unions, serving nearly 2.8 million members worldwide with $29 billion in assets. PenFed Credit Union offers market-leading certificates, checking, credit cards, personal loans, mortgages, auto loans, student loans, and a wide range of other financial services with members' interests always in mind. PenFed Credit Union is federally insured by the NCUA and is an Equal Housing Lender. To learn more about PenFed Credit Union, visit PenFed.org, like us on Facebook and follow us @PenFed on X. Interested in working for PenFed? Check us out on LinkedIn. We are proud to be an Equal Employment Opportunity Employer.

¹ Members become Very Important Buyers (VIB) and are eligible to receive the lender-paid closing credit when their transaction is completed with both PenFed mortgage and the qualified PenFed real estate network agent to (1) purchase their new home, offer valid for completed purchase applications received on or after April 3, 2025, or (2) to purchase a home listed by a Berkshire Hathaway HomeServices PenFed Realty agent, offer valid for completed purchase applications received on or after October 6, 2025; subject to qualification and approval. Member must use the qualified PenFed real estate network agent assigned to member to close their real estate transaction. If member has already closed on a property or is currently using, and wishes to continue using, a non-PenFed real estate network agent, member will not qualify for this benefit. Lender-paid closing cost credits include: loan origination fee, appraisal fee, tax service fee, flood certification fee, credit report fee, soft credit report fee, and escrow waiver pricing adjustment, if applicable. Members can obtain lender and real estate services separately, but the lender-paid closing credit will not apply. Credits may be reduced if all credits received, including seller credits, have reached the maximum allowable credit limit for the selected loan product. Terms and conditions apply and are subject to change without notice. This is not a commitment to lend.
Very Important Buyer (VIB) members are eligible to receive a lender-paid closing credit if they refinance the original VIB loan with PenFed within 3 years of the origination date of their original VIB loan. The same fees are eligible to be waived as the original VIB loan. The refinance benefit can only be redeemed one time. Terms and conditions apply and are subject to change without notice. This is not a commitment to lend.
Certain images in this webpage were created using artificial intelligence and do not represent real people, places, or events.

^*You are not required to use PenFed's network of real estate agents as a condition of obtaining products or services from PenFed. By using PenFed's network of real estate agents, PenFed may receive a financial or other benefit. You are free to shop around to determine that you are receiving the best services and the best rate for these services. Please see our attached Affiliated Business Arrangement Disclosure. 

SOURCE PenFed Credit Union