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.
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.
A conditional approval is different than both pre-approval and full approval. It relies on specific conditions being met at closing. Learn more.
Debt-to-income (DTI) ratio isn’t as talked about as often as your credit score, but it’s just as important when seeking a home loan. So what goes into DTI? It’s the amount of recurring monthly debt you have compared to your monthly gross income.
You have made the decision to buy a new home and the house you love is on the market. You’ve submitted your loan application, but what’s next? What are the remaining steps until you have assurance that the new home will be yours?
Read more about Understanding the Mortgage Process: How Long Will It Take?
Ready to buy a home? Can't stop daydreaming about that charming townhouse? Not so fast. There's a lot more that goes into buying your first home than scrolling sales listings and wishful thinking. Get the down-low from our housing market experts.