Mortgage news, tips and tools
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.
UPDATE — Federal Reserve cuts rates by another 0.25%*
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.
Although flying cars haven’t arrived just yet, the smart home technology available in 2019 is very impressive. Beyond playing music by voice command and hands-free Googling, the devices and apps now available to homeowners can help with your everyday needs like cooking, cleaning, managing your utility use, and even improving your home’s security.
As you started shopping for your new home, did you make sure that you considered the needs of all of your family members — including those with paws and claws? More than half of U.S. households include pets, so making the home you are buying (or selling) welcoming to animal companions can definitely pay off. From quick fixes to bigger projects, read on for expert veterinary and home design advice on how to make your home pet-friendly.
Your home is typically one of your largest investments, and there are numerous ways that you can leverage this valuable asset in order to meet your goals. Subordinate mortgages, which can come in the form of a second mortgage, equity loan, or home equity line of credit (HELOC), can allow you to fund all types of projects.
Your credit score is a simple number that tells a complicated story. A huge part of your financial history — from long-term debt to a few scattered missed payments here and there — can be summarized by this number. This little figure can have a big impact on your life, as it is one of the major factors that your lender uses to determine what loan terms you can qualify for.
Buying your own home has many benefits: you can gain equity, have access to potential tax savings, and on top of it all, gain a sense of security and freedom that comes from homeownership. Owning a single-family home also comes with responsibilities that you would occasionally need to set time aside for, such as landscaping and home repair projects. However, if you are looking for the benefits of homeownership in a lower-maintenance package, then buying a condo might be the right choice for you.
It’s a common perception that in order to enjoy the convenience of urban living, you must resign to living in a bland, boring and inconveniently small space. Thankfully, this is no longer true. Trends are changing and designers are innovating to make it possible for you to enjoy the amenities of your favorite city while simultaneously maintaining a spacious, well-designed home. Here are the top lifestyle-enhancing urban chic design trends, as chosen by expert architects, developers and builders.
Smart devices can secure your home and make life easier. For example, there’s no need to juggle groceries and keys, with a Bluetooth-enabled or voice-activated front door lock.