FAQs

I have closed my loan, when should I expect to receive my funds?

For refinances, there is a 3 bank day waiting period (that’s weekdays plus saturday) in which you are able to rescind the refinance and return to your previous loan terms. This is a federal lending guideline, not a Pennymac policy. Once that time period ends, Pennymac will “disburse” the funds the following business day at which point you should receive your funds within 2-3 business days.

Note: The following states require an extra business day for processing the disbursement: Alaska, California, Connecticut, Iowa, Maine, Maryland, Massachusetts, Minnesota, New Hampshire, New York, Oregon, Rhode Island, Utah, Vermont, and Wisconsin.

For purchases, the funds will be available the same day as signing, except for the following states which require an extra business day for processing the disbursement: Alaska, California, Connecticut, Iowa, Maine, Maryland, Massachusetts, Minnesota, New Hampshire, New York, Oregon, Rhode Island, Utah, Vermont, and Wisconsin.