home equity 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.

How to Buy a Rental Property: Get Tips from the Experts

06.02.22

Have you been inspired by one of the numerous investment property television shows? Or, have you seen friends or family find success in real estate? If so, you are probably intrigued by the prospect of investing in rental property. But figuring out how to get started can be a difficult task in and of itself. Financing, knowing what kind of property to buy, and the many other steps are all part of a well-rounded investment plan. Here are some tips from real estate experts on how to buy a rental property that’s right for you.

Read more about How to Buy a Rental Property: Get Tips from the Experts

Second Mortgages: What Are They, and How Do They Work?

02.19.19

Second mortgages can be a great way to use the equity in your home to free up cash for important needs. Just like any other loan, there are some important things you should know about second mortgages before you begin the application process.

Read more about Second Mortgages: What Are They, and How Do They Work?

5 Ways to Financially Benefit from Your Home

02.12.19

As your home’s value rises, it can be tempting to tap into the equity you’ve built as a source of cash. In 2018, more than 44 million U.S. homeowners had access to the highest amount of home equity in history — around $6 trillion.

Read more about 5 Ways to Financially Benefit from Your Home

10 New Year’s Renovation Resolutions

12.04.18

Most new year’s resolutions include staying fit and healthy, losing weight, spending less and saving more. We spoke with Tom Kraeutler, the nationally syndicated radio host of The Money Pit Home Improvement Radio Show to discover New Year’s resolutions you can make that will help keep your house in great shape year-round.

Read more about 10 New Year’s Renovation Resolutions

What Is Loan-to-Value (LTV) Ratio?

06.13.18

During the homebuying process, you’re sure to encounter the term Loan-to-Value (LTV) ratio. So what exactly is your LTV ratio, and why is it important?

Read more about What Is Loan-to-Value (LTV) Ratio?

Online Home Value Tools vs Appraisals: What’s the Difference?

01.04.18

There are plenty of online tools to help you determine what your home is worth, but not all tools are created equal. Choosing the right Automated Valuation Model (AVM)—and using it in tandem with a true appraisal—is the best way to educate yourself about the value of your home.

Read more about Online Home Value Tools vs Appraisals: What’s the Difference?

Owning Vacation Rental Property: Expert Tips

11.28.17

Do you have childhood lake house memories or dreams of beachside retirement? Not sure how you can afford to purchase a vacation home of your own? Sharing your second home with others as a vacation rental is a path that can lead to great investment returns and maybe even a few new friends. We talked to vacation property gurus to get their top tips and advice for rental owner rookies.

Read more about Owning Vacation Rental Property: Expert Tips