loan types
Articles

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

VA loans offer amazing advantages and benefits beyond down payments — learn how they can help you buy or refinance your home easily, with great savings.

Read more about 10 VA Loan Benefits You Need to Know in 2020

01.12.20

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.

Read more about Should You Refinance Your FHA to a Conventional Loan?

01.09.20

With low down payments, low closing costs, and more flexible credit score requirements, it’s no wonder that nearly one in every five home purchases are made using an FHA Loan.

Read more about FHA Loan Requirements

12.10.19

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?

Read more about The Homebuyer’s Guide to Jumbo Loans

12.10.19

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.

Read more about Conforming vs. Non-conforming Loans: Which Is Best for You?

08.30.19

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.

Read more about Subordinate Mortgages: Everything You Need to Know

08.27.19

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.

Read more about Guide to Condo Mortgages: What You Need to Know

05.23.19

In a typical home buying scenario, the purchaser works with a lender to obtain financing for their dream home with a conventional mortgage. In certain situations another option may be better, assuming a mortgage. Assumable mortgages can save you a great deal of money during the buying process and beyond.

Read more about Understanding Assumable Mortgages

02.19.19

Second mortgages can be a great way to use the equity in your home to free up cash for important needs. Just like any other loan, there are some important things you should know about second mortgages before you begin the application process.

Read more about Second Mortgages: What Are They, and How Do They Work?