loan process
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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.

09.02.20

Whether it’s a yard, garage, or pool, here are five often overlooked opportunities to consider while house hunting or updating your home to sell.

Read more about 5 Key Property Features When House Hunting

04.02.20

It’s one of the largest purchases you’ll ever make, and one that most people will only complete a few times in their entire life. It’s normal to feel intimidated and even confused by the home buying process.

Read more about 10 Simple Steps to Purchase a Home in 2020

08.28.19

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.

Read more about How to Improve Your Credit Score During the Home Buying Process

11.19.18

When you’re buying a house, you have more to consider than just which property to purchase. You need to learn about the mortgage process, including if and when you should apply for a rate lock.

Read more about Should I Lock My Mortgage Rate?

02.25.18

When applying for a home loan, prospective homebuyers find themselves tracking down a mountain of paperwork for the lender. Income statements, tax returns, credit reports, and so on—with so much to collect, the application process is intimidating. Fortunately, you don’t have to go it alone.

Read more about Home Loan Applications: What Documents Do I Need?

02.01.18

Buying a home is not a one-step process. Most of us start by learning about the world of real estate and assessing our financial options. Next, it's time to explore the first formal step in the home loan process: the loan application.

Read more about Explaining the Home Loan Process Part 2: The Application

02.01.18

Buying a new home is one of the most important and exciting decisions of your life, but it can also be one of the most challenging—especially if you don’t know what to expect during the mortgage process. Understanding how home loans work and getting prepared will set you up for success in the home buying process.

Read more about Explaining the Home Loan Process Part 1: Getting Prepped

02.01.18

During the mortgage underwriting stage, your application moves from the desk of the loan processor to the mortgage underwriter. The mortgage underwriter will ensure your financial profile matches your lender’s guidelines and loan criteria and he or she will ultimately make the final decision: to approve or deny your loan request.

Read more about Explaining the Loan Process Part 4: Mortgage Underwriting

01.31.18

Congratulations! You have found a home you want, been approved for the loan you need, and have now entered the final phase of loan processing. You may be ready to start unpacking and decorating, but before you can call the house your own, you must complete one last step: closing on your mortgage.

Read more about Explaining the Loan Process Part 5: The Closing Process