Mortgage news, tips and tools – Page 13

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.

03.07.17

When it comes to comparing mortgage lenders, many new homebuyers confuse the annual percentage rate (APR) with the interest rate. In truth, these rates measure two very different things. Understanding the role that each of these numbers play in the total cost of your mortgage isn't only important for personal knowledge, it could save you thousands of dollars over the life of your loan.

Read more about APR vs. Interest Rate: What's the Difference?

02.28.17

During the home buying process, you’re likely to be introduced to a wide variety of mortgage types. While it might seem logical to select a mortgage based upon what your friends or family have chosen, it’s more important to weigh whether or not a mortgage plan fits you and your individual lifestyle.

Read more about The Pros and Cons of Adjustable Rate Mortgages

02.28.17

A conventional loan is a type of mortgage that is not part of a specific government program, such as Federal Housing Administration (FHA), Department of Agriculture (USDA) or the Department of Veterans’ Affairs (VA) loan programs. However, conventional loans are commonly interchangeable with "conforming loans", since they are required to conform to Fannie Mae and Freddie Mac’s underwriting requirements and loan limits.

Read more about What is a Conventional Loan?

02.16.17

Conventional. Conforming. Non-conforming. Do you know the difference?
When you’re evaluating home loan categories, it’s easy to get confused by the terms "conventional" and "conforming." As similar as these two terms may sound, their definitions are worlds apart, so it’s important to understand the distinctions. We’re here to clear the air.

Read more about Conforming vs. Non-conforming Loans: Which Is Best for You?

02.08.17

With some mortgage experts projecting rates to remain near historically low numbers, it’s no surprise that refinancing continues to be a popular home loan option. Before you start comparing lenders, however, it’s important to take a 360-degree view of your options.

Read more about Your Mortgage Refinancing Checklist: Ready to Refi?

02.02.17

Deciding whether to renovate your current home or buy a new house can be emotionally fraught and financially complicated. As well, there may be aspects of the "stay vs. go" equation you may not have contemplated.

Read more about Should I Stay or Should I Go?

01.04.17

While many think of summer as "home improvement season," winter can offer easier scheduling, better contractor choices and stronger negotiating power. To discover which home improvement and maintenance choices to focus on in winter, we spoke with Don Vandervort, the founder and resident expert at hometips.com and who has written more than 30 books on home improvement.

Read more about Winter Improvement, Summer Enjoyment: Home Fixes for Right Now

12.15.16

For many people, one of the benefits of homeownership is having the opportunity to use their home equity to access needed cash. While there are many options to get that money into the piggy bank, an attractive option for many is a cash-out refinance.

Read more about Cash-Out Refinancing: When Does it Make Sense?

01.24.14

Many PennyMac customers and prospects have a target rate they must hit to receive a benefit from refinancing or to qualify for a loan. Now, you can set a target rate in your profile and receive notifications on your iPhone when our rates hit your target. From there, you can click one button to reach a PennyMac loan officer to get started.

Read more about PennyMac for iPhone Gets Rate Alerts, Product Descriptions, and Expanded Product Set