Navy Federal Credit Union is offering no-down-payment mortgages — which have become difficult to obtain these days — to its members nationwide, citing "opportunities in the current market."

The Vienna, Va., credit union's membership is open to all Department of Defense military and civilian personnel and their families.

The maximum total-debt-to-income ratio for the no-down-payment loans is 41%, similar to the requirements for the Department of Veterans Affairs loan guarantee program. Navy Federal requires full documentation and verifies all assets.

There is also a funding fee, which cannot be financed and is included in the closing costs. The maximum loan size for the 100%-financing product is $650,000.

There is no credit score minimum per se, said Barbara Sheehan, Navy Federal's assistant vice president of mortgage products, but the borrower would have to have a "good" score.

The program was unveiled March 5.

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