Pentagon Federal Credit Union is offering 5.375% apr on their 5/1 Adjustable Rate Mortgage(ARM). This rate is down from the 5.65% rate the credit union was offering on Tuesday when I last posted on this mortgage. This rate is lower than any other comparable offer I know of on a 5/1 ARM. This loan is being offered with a 90 day rate lock and no closing costs. Those paying .50 in points will receive a .25 point reduction to their mortgage rate.

Field of membership in Pentagon Federal Credit Union is open to those who work at the Pentagon as well as those who are active or retired from the U.S. Army, U.S. Air Force, or Coast Guard. Membership is also extended to those who belong to certain select companies or organizations . Those who don’t otherwise qualify for membership in this credit union are eligible to join via membership in theNational Military Family Association(NMFA). Membership in the NMFA is open to all.