refinance
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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.

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?

01.06.20

Would you rather repair a small crack, or rebuild an entire wall? How about cleaning a filter versus replacing your entire air conditioning unit?

Read more about The Essential Home Maintenance Checklist

09.23.19

If you’re like most homeowners, your mortgage payment looms on the calendar as the single largest expense each month. Pruning that payment can add cash to your household budget — every month. As Ben Franklin would say, “a penny saved is a penny earned.” Let’s see how you can save the most, and make Ben proud.

Read more about 7 Ways to Lower Your Mortgage Payments

08.15.19

For many people, one of the benefits of homeownership is having the opportunity to use their home equity to access needed cash. While there are many options to get that money into your piggy bank, an attractive option for many is a Cash-Out Refinance.

Read more about Cash-Out Refinancing: When Does it Make Sense?

06.17.19

If you’re headed back to school this fall, or paying for your child’s education, you may be worried about that upcoming tuition bill. Depending on your financial situation there are different options available for each circumstance.

Read more about Refinancing to Fund Higher Ed: Saving on Education

05.07.19

A colorful flower bed, a freshly mowed lawn, a newly painted front door—these attractive aspects of your house and yard exterior, when first viewed from the street, is typically known as “curb appeal.

Read more about Renovation Staycation: Make the Most of a Reno-Retreat

03.24.19

A Home Equity Line of Credit (HELOC) is one of the most common ways to borrow money against the value of your home. Similar to a credit card, you can use your HELOC to buy things that you need now, and repay it with interest at a later time. Obtaining a HELOC requires (among other factors) that you have reasonable equity in your home.

Read more about What Is a HELOC?

11.15.18

When you refinance your home, the process is similar to the one you followed when obtaining your original mortgage. Your finances will be verified and calculated, and your home will be appraised to determine its value to your potential lender. As a result of a refinance, it’s common for your monthly payment and even your total loan amount to change—but will your property taxes go up as well?

Read more about How Refinancing Affects Real Estate Taxes

12.06.17

HomeReady® is a new mortgage program that brings flexibility and expanded eligibility to a wide range of borrowers. But how do you know if it’s right for you?

Read more about Is a HomeReady® Mortgage Right for Me?