Mortgage news, tips and tools – Page 12
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.
You comparison shopped, choosing your mortgage lender carefully. Then, shortly after closing, you receive a letter from a new company introducing themselves as your servicing provider. What does this change really mean?
Whether you are considering your first rental property or just closed on your 50th, you have many decisions to make relating to how you will manage your investment. Keep that pink bathroom or tear it out? Update the landscaping yourself or hire help? One of the questions you may not have considered is whether or not to hire a property manager. Many investors (both new and experienced) are hesitant to hand over any of their cash flow to a property manager, but this is one expense that can save money, time, and maybe even your sanity.
A Chicago couple found a 1940s bungalow that seemed like a solid home. Then they called in Frank Lesh, an inspector, who pointed out that while the house bones were fine, the plumbing needed updating, and the roof was in bad shape. They passed on the house.
There are a lot of conflicting ideas about whether or not paying off your mortgage early should be a top priority. A family member might tell you paying off their mortgage was one of the best moments of their life, while a friend warns you that paying early is a mistake. With financial gurus on both sides of the fence, it can be hard to know what to do. So, what's the right move today—pay off your mortgage early or don't worry about it?
Have you been inspired by one of the numerous investment property television shows? Or, have you seen friends or family find success in real estate? If so, you are probably intrigued by the prospect of investing in rental property, but figuring out how to get started can be a difficult task in and of itself. Here are some tips from real estate experts on how to evaluate whether buying a rental property is right for you.
In today’s mortgage marketplace, prospective homebuyers often struggle to come up with the minimum 20% down payment. Fortunately, there are several loan programs that allow borrowers to obtain financing with down payments as low as 3.0%. While these loans make homeownership more affordable, they do come at a cost.
When you are buying a home, it can be hard to understand why there are so many people involved, and exactly what each one is doing. Some—like your home inspector—have clear roles, but others—like your title company—may seem to fill a more mysterious role. However, your title company plays a crucial role in the process of closing on your home and protecting you from unforeseen legal issues.
Buying a home after you’ve retired can bring up challenging questions: Should I stay put, or move to a favorite vacation spot? Will living in a condo bring enjoyment or irritation? How will I pay for any of the moving and other related expenses?