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.
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?
Buying a home is a stressful, yet rewarding, process. If you are shopping for property in a competitive market, those stressors can multiply but so can the potential rewards. High-demand housing markets often have their own unwritten rules that can be hard for homebuyers to understand. We spoke with experts who work in these areas and compiled five strategies that can help you succeed in highly competitive real estate markets.
Even a giant yard can feel cluttered and small without the right approach and organization. Here are 10 space-saving tips for your yard from landscape designer Sara Bendrick, TV Host of DIY Network's “I Hate My Yard” and author of “Big Impact Landscaping: 28 DIY Projects You Can Do on a Budget to Beautify and Add Value to Your Home.”
PennyMac offers “streamline” refinancing options to consumers to get better mortgage terms without an extensive qualification process. Streamline refinance programs typically allow borrowers to bypass many of the traditional mortgage requirements by offering minimal credit scoring requirements, no new appraisal, easier income and asset verification, and limited paperwork. Reducing the paperwork can often make the process easier and faster, which is why it’s called “streamline refinancing.” Streamline refinance refers only to the amount of documentation and underwriting that the lender must perform, and does not mean that there are no costs involved in the transaction.
Fannie Mae and Freddie Mac are cornerstones of the mortgage market, yet many Americans are unfamiliar with their roles in the mortgage industry. Keep reading to better understand how they work for both US homeowners and the economy.
You have probably heard home buyers, sellers and real estate professionals talk about being in escrow, close of escrow, or even “falling out of escrow.” What do these terms mean, and how will they impact your home buying journey?
You have made the decision to buy a new home and the house you love is on the market. You’ve submitted your loan application, but what’s next? What are the remaining steps until you have assurance that the new home will be yours?
Buying your first home can be one of the most rewarding investments you will make in your lifetime. But the experience can quickly turn sour if you’re not financially—and emotionally—prepared. While it can be easy to get caught up in excitement of finding your dream home and ditching the landlord, it’s critical to consider whether you’re truly ready for the responsibilities of homeownership.