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.
At the most basic level mortgages are investments, and anyone who pays the least bit of attention to the stock market understands that some investments invite much more risk than others. There are several types of mortgages that commonly carry more risk than conventional loans; below we’ll examine why they should be avoided.
From a high-rise New York loft to a sprawling historic farm in Minnesota, it seems as if there are about as many different types of housing as there are people. Some people are in love with the fast-paced life of the city. Some love the convenience and community of the suburbs, or the quiet peace of the country.
Sunny days are just ahead, and so is chilling out at low-pressure summer picnics and parties. “Summer entertaining feels more casual,” says Annette Joseph, stylist and author of Picture Perfect Parties, as well as the new book, “Cocktail Italiano: the Definitive Guide to Aperitivo: Drinks, Nibbles, and Tales of the Italian Riviera.”
Buying a property can be stressful enough without having unfamiliar words thrown in too. Even if it's not your first mortgage, it can still be a confusing process. This glossary demystifies common words used in mortgage transactions.
Most people become familiar with term “loan officer,” the professional who helps you figure out which loan option is right for you, when looking for a mortgage. You get the mortgage and keys to your new home, and then wave goodbye to your loan officer...but not so fast! There are other surprising—and important—ways a loan officer can be instrumental to your financial future.
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?
During the homebuying process, there are typically two professionals who will assist you through it: a real estate agent and a loan officer. Most people are familiar with real estate agents, but loan officers are less well-known—especially to first-time homebuyers.
Adjusting your home thermostat while away on vacation or checking on your kids via your in-home nanny camera are conveniences of the modern technology age. But, are you the only one getting into your home?