As a 10 year member with Penfed, I can say they are great to deal with. Penfed will send you a voucher/check for any amount you qualify for. With that being said, if you ask for 35K, they send you the check/voucher for 35K.....you then make it out for $32 or whatever the final amount is......after any cash down......essentially, you have $35K to work with....if you use less, then your pmt will be lower.
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