Mortgage news, tips and tools – Page 7
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.
Do you know your credit score? When it comes to consumer credit, many people turn a blind eye. But taking a “what I don’t know, can’t hurt me” approach to personal finance may present serious issues, particularly for first-time homebuyers.
Summer’s the time to kick back during vacation, enjoy time outdoors at summer cookouts and … pay big bills accrued through carelessness? No, that’s not you. Yet many of us overlook simple solutions to summer expenses. Here are seven ways you could rack up unexpected costs.
If you’ve been shopping around for mortgage lenders, you’ve probably heard a lot about mortgage points. But what are they and how do they affect your monthly mortgage payment?
Home appraisals are a vital component of mortgage lending. See how the appraisal process works and learn how it protects you as a homebuyer.
Home stagers are typically hired when a house is prepared for sale, to create a warm, attractive house that buyers yearn to call home. However, stagers are also excellent at providing advice on “staging to dwell,” or everyday living in our homes.
A vacation home isn’t just a summertime house – it’s a memory-maker. That’s according to Toby Babich, a board member of the Vacation Rental Management Association with years of experience in the second-home and vacation rental market.
When it comes to purchasing a home, many borrowers focus on price, not perfection. So it’s no surprise that home improvement projects—like fixing an outdated bathroom, or adding a fresh coat of paint—are on the rise. In fact, with more people buying older houses these days, the home improvement and repair industry has grown into a booming $326 billion business.
So, you’ve finally found your dream house. Sure, it may need a little work—okay, a lot of work—but you’re confident it will all be worth it in the end. That is until your home renovation project starts to go down the toilet (or worse, the toilet starts falling through the floor).
Like many American homeowners, your first mortgage may have been a loan with the Federal Housing Administration (FHA). Loans backed by the FHA are attractive to first-time homebuyers because FHA loans make it easier to obtain financing, requiring only minimal down payments and fair-to-good credit scores.