buying a home
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.
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.
When you first start thinking about buying a vacation home, it’s easy to get excited by visions of poolside lounging, hosting fantastic parties, or even just relaxing alone. Owning a vacation home does, however, come with several considerations and commitments. Some of these critical factors are obvious, while others are issues that you might not be aware of. Here are four considerations that all second home buyers should keep in mind as they search, via trusted real estate experts who know the industry.
We asked expert home organizers, professional movers, and even home designers for their help — read on to see how you can plan for both an easy to maintain home, and an organized move when the time comes.
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.
Buying your own home has many benefits: you can gain equity, have access to potential tax savings, and on top of it all, gain a sense of security and freedom that comes from homeownership. Owning a single-family home also comes with responsibilities that you would occasionally need to set time aside for, such as landscaping and home repair projects. However, if you are looking for the benefits of homeownership in a lower-maintenance package, then buying a condo might be the right choice for you.
Whether you are upgrading, downsizing, moving for a new job, or relocating for retirement, changing your living situation is seldom simple. Even if this big switch is something that you are looking forward to, the actual process of moving can be intimidating. However, with the right planning and preparation, your move can, in fact, be one of the easier parts of this big life transition.