FHA Articles
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.
01.23.23
Generally speaking, people file for bankruptcy during extreme financial hardships: the inability to repay large debts, have outstanding mortgage payments or they are facing foreclosure. Bankruptcy can offer some people a clean financial slate, but should only be considered as a last resort in resolving loan debt. Here is everything you need to know before filing bankruptcy.
11.29.22
Buying your first home can be a very exciting time. You’re finally going to have your own space, and you’re ready to start a new chapter in your life as a homeowner. However, purchasing a property can be quite the process. We’ll walk you through the loan qualification requirements, various first-time homebuyer programs, and loan options available.
08.10.22
If you are 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 are easier to obtain financing for and require only minimal down payments and fair-to-good credit scores.
08.10.22
With low down payments, low closing costs, and more flexible credit score requirements, it’s no wonder that nearly one in every five home purchases are made using an FHA Loan.
Read more about FHA Loans – Credit Score Requirements and More
07.20.17
Pennymac offers “streamline” refinancing options to consumers to get better mortgage terms without an extensive qualification process. Streamline refinance programs typically allow borrowers to bypass many of the traditional mortgage requirements by offering minimal credit scoring requirements, no new appraisal, easier income and asset verification, and limited paperwork. Reducing the paperwork can often make the process easier and faster, which is why it’s called “streamline refinancing.” Streamline refinance refers only to the amount of documentation and underwriting that the lender must perform, and does not mean that there are no costs involved in the transaction.