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*Based on results from Inside Mortgage Finance for last 12 months ending 12/31/23. Includes PMT loan acquisitions, for which PFSI earns a fulfillment fee upon loan funding.
What type of home loan are you looking for?
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Let's get started. Where are you in the homebuying process?
Let’s start with the basics. What’s your name?
Save $1,0001 + Get 1% off your rate for 1 year2 on your new home loan
Nice to meet you, ! How does your credit score look?
Great. What type of home is this for?
We’re more than halfway there. How do you plan to use this property?
Rates may rise again. Lock in yours today with Lock & Shop!
We understand. You want to buy a home, but you’re worried about the significant increase in rates made by the Federal Reserve. The good news is we have a solution.
Lock & Shop can help you lock in your rate before rates potentially rise even further and before you find your home.
Lock & Shop Program allows consumers who have a Pennymac BuyerReady Certification for a purchase loan with Pennymac to lock a rate prior to locating a property. The program requires a non-refundable fee of $595 due at the time of the rate lock. Consumers with a Pennymac BuyerReady Certification for a purchase loan with Pennymac must meet appropriate underwriting conditions to obtain a mortgage loan. Consumers may choose between a 60-day, 75-day or 90-day lock period. Consumers must initiate a mortgage loan application for a specific property and be under purchase contract for the property at least 30 days prior to lock expiration in order to extend the locked rate. All rate lock extensions are subject to Pennymac’s standard rate lock extension fees. After the rate lock and subject to favorable market conditions, consumers may be eligible for a one-time reduction in rate once the loan application for a specific property has been initiated (0.50 % maximum reduction in interest rate allowed). Eligible loan products are Conventional Fixed, Conventional ARM, FHA Fixed and VA Fixed. Program excludes Jumbo, refinance, third-party and in-process loans. Program subject to termination in Pennymac’s sole discretion and without notice.
Assumptions
The following assumptions reflect search criteria for Rates:
Loan purpose:
Home value:
Loan amount:
Property state:
Property county:
Loan-to-value (LTV):
Down payment:
Cash out:
The following assumptions reflect the search criteria:
Loan purpose:
Property state:
Property county:
Lien position:
Prepayment penalty:
Property type:
Property use:
FICO:
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.
