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Apple Federal Credit Union

Are you considering a purchase or mortgage refinancing loan from Apple Federal Credit Union? Does AFCU offer competitive rates and fees compared to other lenders like Amerisave and Navy Federal Credit Union? The fees you pay when closing on your home loan make or break the deal you’re getting no matter how low the interest rate. Here’s my unbiased review of Apple Federal Credit Union services, interest rates and fees to help you make an informed decision on your next home loan without leaving cash on the table.

Apple Federal Credit Union

Apple Federal Credit Union serves students, educators and qualified employees throughout Virginia.

Does Apple Federal Credit Union offer competitive interest rates, fees and services compared to other banks and credit unions?

Rating by Robert Regehr: 5.0 stars

Apple Federal Credit Union Profile

Founded by ten teachers from the Fairfax County school system in 1956 to help a coworker buy a set of tires, AFCU has grown to over 117,000 members. Membership is open to employees their family members of the school systems in Virginia including Fairfax County schools, Falls Church City schools, Loudon County schools, Manassas City schools, Manassas Park schools, Prince William County schools, City of Winchester schools, and Stafford County schools.

Membership is also open to students, faculty, staff and alumni of George Mason University, Northern Virginia Community College, and Shenandoah University. There is a select list of qualified employers that sponsor credit union membership on the AFCU website.

Finally, if you live, work volunteer or go to school in Manassas City, Prince William County, or Manassas Park you are eligible to join Apple Federal Credit Union. The minimum deposit to open an account is five dollars. AFCU deposits are insured by the government National Credit Union Administration (NCUA).

AFCU Contact Information

By Phone:

(703) 788-4800
(800) 666-7996



By Mail:

Apple Federal Credit Union
P.O. Box 1200
Fairfax, VA 22038-1200

Apple Federal Credit Union Review

AFCU is a full-service credit union offering checking, savings, credit cards, purchase and mortgage refinance loans. The website offers online banking and financial resources for members. Mortgage rates are published on the site and while AFCU’s rates are lower than other credit unions I’ve reviewed here they require one discount point to qualify. When you request a quote there is a non-discount point option with a higher rate by .25% in this case.

Discount points are a fee you pay to essentially buy down your mortgage rate and one point is one percent of your home loan amount. Paying unnecessary discount points increases your out-of-pocket expenses and can make it difficult, even impossible to break even recouping closing costs.

I was able to request a mortgage refinance quote on the website to see AFCU mortgage fees. Closing costs on a 30-year, fixed-rate home loan for $250,000 were $7,624.90. This included an origination fee of $700 which is only .28 percent of the loan amount. Mortgage loan origination fees are typically one percent or higher so this is one area where Apple Federal Credit Union shines. The quote included a $450 appraisal fee; however, there were no charges for processing or loan application which are common lender junk fees.

Do you have an experience or opinion of Apple Federal Credit Union that you’d like to share? Please leave a comment below.

Apple Federal Credit Union lender fees are among the lowest I’ve reviewed. Their purchase and refinance mortgage rates are in line with other credit unions if you elect not to pay discount points. Mortgage interest rates are still near a sixty-year low making paying discount points an unnecessary expense and a losing proposition.

You can learn more about getting the best deal for your next home loan without paying unnecessary points or fees by checking out my free Underground Mortgage Videos.

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