Mortgage news, tips and tools – Page 2
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.
Would you rather repair a small crack, or rebuild an entire wall? How about cleaning a filter versus replacing your entire air conditioning unit?
So you have your eye on a new home, but the loan you need is bigger than the conforming loan limit—what are your options?
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 different so it’s important to understand the distinctions. We’re here to clear the air.
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.