Mortgage news, tips & tools – Page 2

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.

Everything You Need to Know About the VA Funding Fee

10.12.22

Establishing good credit takes time, and The U.S. Department of Veterans Affairs (VA) loan program is designed to help our service members and veterans achieve homeownership. With a government-insured VA home loan, eligible service members, veterans and their families can enjoy low interest rates and no down payments on qualified mortgages, while also eliminating the need to purchase private mortgage insurance (PMI).

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How to Prequalify for a Home Loan

10.12.22

Purchasing a home can be an exciting journey. Of course, before you get to experience the joy of unlocking your front door for the very first time, there are some tasks that you’ll need to take care of along the way. For most homebuyers, this includes securing a home loan. As you prepare to purchase a mortgage, one of your first steps might be to pre-qualify for a home loan.

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Guide to What Happens After the Appraisal

10.04.22

When you’ve decided you want to move or buy a home, you might be wondering how important timing is. For some things in life, timing is everything. But for buying a house, timing is only part of the equation. Still, timing does play an important role in your homebuying experience and ultimately how much you might end up paying for your new house, so it’s important to consider when it’s a good time to buy a house.

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17 Popular Types of Homes In Real Estate

09.27.22

When you’ve decided you want to move or buy a home, you might be wondering how important timing is. For some things in life, timing is everything. But for buying a house, timing is only part of the equation. Still, timing does play an important role in your homebuying experience and ultimately how much you might end up paying for your new house, so it’s important to consider when it’s a good time to buy a house.

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Nine Expensive Mistakes You Don’t Want to Make This Fall

09.26.22

Autumn is a good time (and potentially your last chance) to review, repair and remediate any home issues that could end up breaking the bank account once winter arrives. Below we’ve listed some expensive mistakes homeowners will want to avoid making every fall. Set yourself up for success by putting some time (and a little cash) aside to clean up your household act before the harsh weather sets in.

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When is the Best Time to Buy a House?

09.20.22

When you’ve decided you want to move or buy a home, you might be wondering how important timing is. For some things in life, timing is everything. But for buying a house, timing is only part of the equation. Still, timing does play an important role in your homebuying experience and ultimately how much you might end up paying for your new house, so it’s important to consider when it’s a good time to buy a house.

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What is a Jumbo Loan and How Does It Work?

09.12.22

A Jumbo loan exceeds the limits set by the Federal Housing Finance Agency to help you finance a home in a higher price range. Is it right for you?

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Verification of Employment for Mortgage: How Does It Work

09.07.22

Before they can feel confident extending you a loan, lenders first need to understand your financial situation. This means collecting and analyzing some of your personal information. Your credit score, credit history, debt-to-income ratio (DTI), and assets are all relevant, and all play roles in informing the underwriting process. But one factor that borrowers sometimes overlook is the verification of employment.

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