refinance 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.

Refinancing FHA to Conventional Loan

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.

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Is a 15-Year Fixed-Rate Mortgage Right for You?

05.12.22

A 30-year mortgage has long been the industry norm, and for good reason: It allows the homebuyer to spread the loan out over a long period to keep payments as low as possible. But now that interest rates have dropped to near-record lows, 15-year mortgages are becoming more popular. Is a 15-year mortgage right for you?

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How Refinancing Affects Real Estate Taxes

12.29.20

When you refinance your home, the process is similar to the one you followed when obtaining your original mortgage. Your finances will be verified and calculated, and your home will be appraised to determine its value to your potential lender. However, Pennymac also has many streamline products that don’t require income or asset verification. There are also products that do not require an appraisal. As a result of a refinance, it’s common for your monthly payment and even your total loan amount to change — but will your property taxes go up?

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The Essential Home Maintenance Checklist

01.06.20

Would you rather repair a small crack, or rebuild an entire wall? How about cleaning a filter versus replacing your entire air conditioning unit?

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7 Ways to Lower Your Mortgage Payments

09.23.19

If you’re like most homeowners, your mortgage payment looms on the calendar as the single largest expense each month. Pruning that payment can add cash to your household budget — every month. As Ben Franklin would say, “a penny saved is a penny earned.” Let’s see how you can save the most, and make Ben proud.

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Cash-Out Refinancing: When Does it Make Sense?

08.15.19

For many people, one of the benefits of homeownership is having the opportunity to use their home equity to access needed cash. While there are many options to get that money into your piggy bank, an attractive option for many is a Cash-Out Refinance.

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Refinancing to Fund Higher Ed: Saving on Education

06.17.19

If you’re headed back to school this fall, or paying for your child’s education, you may be worried about that upcoming tuition bill. Depending on your financial situation there are different options available for each circumstance.

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