Refinancing your existing loan may result in your total finance charges being higher over the life of your loan.
*Customers pre-approved with PennyMac prior to locking any purchase loan with PennyMac get 0.50% of the loan’s principal amount, applied as a discount off total closing costs and/or principal curtailment, subject to investor guidelines. Loans must be locked by 12/31/2021 to qualify for the offer. Excludes third-party or in-process loans.
For example, on a $300,000 home purchase loan one would receive a $1,500 discount (calculated at 0.50% of $300,000), applied to closing costs.
**For Conventional and FHA purchase loans PennyMac’s $1,100 origination fee is waived, and on VA purchase loans, the original fee is reduced by $1,100. Loans must be locked by 12/31/2021 to qualify for the offer. Excludes in-process and third-party loans.
All offers mentioned on this page are for home purchase loans only and do not apply to refinance loans.
The following assumptions reflect search criteria for Rates:
Rate lock period:
The following assumptions reflect the search criteria:
Refinancing may increase the length of your loan and the total amount of interest you pay over the life of your loan.
Closing costs paid out of pocket
Tax and insurance escrow account created
Loan Estimate issued within 3 days of application
Not all products and terms are shown
All rates and programs subject to loan underwriting and approval and may be subject to change depending on individual credit profile and other qualifications
Monthly payment does not include amounts for taxes, property insurance and mortgage insurance (where applicable). The actual payment obligation will be greater.
*The annual percentage rate ("APR") calculations on first-lien mortgage loan products in the tables are based on typical prepaid finance charges-actual charges may vary based on the terms of the loan and geographical area.
For ARMS, the APR, interest rate, and monthly payments may increase after the introductory interest rate period.
For VA Loans, VA funding fee required and will vary. Maximum loan guaranty amount varies per county. Contact the VA for the maximum loan guaranty amount for your county and for more information on the funding fee.
Discount points are charges paid to the lender voluntarily, usually at closing by the borrower or seller, to reduce the interest rate. One point is equal to 1% of the principal amount of the mortgage.