Mortgage news, tips & tools

The PennyMac Mortgage Blog is where you'll find unbiased, useful info to help save you money, time and peace of mind during the mortgage process. If you have a mortgage or are about to get one, we think you'll find info here you can't always get elsewhere.

06.15.21

Deciding whether to renovate your current home or buy a new house can be emotionally fraught and financially complicated. As well, there may be aspects of the "stay vs. go" equation you may not have contemplated.

Read more about Should I Stay or Should I Go?

06.14.21

Purchasing a new home is a huge undertaking. Whether you’re a first-time homebuyer or you’ve navigated the waters before, the process can be overwhelming. But you don’t have to go it alone. A real estate agent—specifically a buyer’s agent—will help with every step of the of the homebuying process.

Read more about The Real Estate Buyer’s Agent: Do I Need One?

02.12.21

Like many American homeowners, your first mortgage may have been a loan with the Federal Housing Administration (FHA). Loans backed by the FHA are attractive to first-time homebuyers because FHA loans make it easier to obtain financing, requiring only minimal down payments and fair-to-good credit scores.

Read more about Should You Refinance Your FHA to a Conventional Loan?

01.20.21

Mortgage rates are near record lows. Learn how to capitalize on these low rates to save money on your mortgage — or afford more house than you ever dreamed possible.

Read more about With Rates at Record Lows, Affordability Grows for House Hunters

12.29.20

When you refinance your home, the process is similar to the one you followed when obtaining your original mortgage. Your finances will be verified and calculated, and your home will be appraised to determine its value to your potential lender. However, PennyMac also has many streamline products that don’t require income or asset verification. There are also products that do not require an appraisal. As a result of a refinance, it’s common for your monthly payment and even your total loan amount to change — but will your property taxes go up?

Read more about How Refinancing Affects Real Estate Taxes

12.23.20

UPDATE — Federal Reserve announced that its benchmark interest rate would continue to stay at the historically low range of 0.00% to 0.25%*

Read more about Your Guide To The Federal Reserve & Mortgages

12.22.20

Many potential homebuyers and investors overlook bank-owned properties, but for buyers who take the time to understand the REO process, these homes can be a significant opportunity.

Read more about The REO Guide: 10 Steps to Buying a Bank-Owned Home

09.18.20

Purchasing, updating, and decorating your home was a big investment. It is your family’s refuge and holds both treasured memories and valued possessions: in short, all things that you want to protect. We talked with several security experts to discover and share their top tips for home protection.

Read more about Expert Home Security Tips and Tricks

09.09.20

The answer is, no. The down payment amount can vary depending on the type of loan for which you’re applying. Fortunately, there are numerous ways to save, as well as down payment assistance programs and other funding sources for buyers. We compiled a list of alternative options for your down payment. Let’s first see what the down payment amount is for the type of loan you’re looking at.

Read more about Do You Need 20% Down To Buy A Home?