buying a home
Articles – Page 6
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.
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.
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?
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.
Ready to buy a home? Can't stop daydreaming about that charming townhouse? Not so fast. There's a lot more that goes into buying your first home than scrolling sales listings and wishful thinking. Get the down-low from our housing market experts.
Whether you are buying your first home or gearing up for a second purchase, you’ll be responsible for paying a variety of closing costs and other fees related to obtaining a mortgage. Generally, closing costs are paid when you sign on the dotted line for your mortgage, often at a final meeting called the “closing,” but it’s important not to overlook other costs associated with your loan.
If you're one of the 15 million Americans who are self-employed, you don't have to give up the benefits of being your own boss in order to become a homeowner.
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.
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.