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 Much Do You Really Need to Buy a House?
Whether you are buying your first home or gearing up for a second purchase, you’ll be responsible for paying a variety of closing costs and other fees related to obtaining a mortgage. Generally, closing costs are paid when you sign on the dotted line for your mortgage, often at a final meeting called the “closing,” but it’s important not to overlook other costs associated with your loan.