Compare Loan Options

Compare Loan Options

Home loans aren't one-size-fits-all. Whether you're a first time homebuyer or refinancing your home to save on your monthly payments, PennyMac Loan Services has a wide range of mortgage options to suit your unique needs. See the table below to compare a few key components over a range of mortgage options or, if you already know the details of what you're looking for, click the button to get a customized rate quote.

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Loan Options Low Down Payment Fixed Rate Option Flexible Terms Easier To Qualify
Conventional Loans

A conventional loan is not insured or guaranteed by the federal government, which makes it different from programs like VA, USDA and FHA. These flexible loans allow borrowers to get low rates and often avoid mortgage insurance with a higher down payment.

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Jumbo Loans

A Jumbo Loan is a non-conforming loan used to finance a larger home that’s above the conforming loan limits traditionally accepted by government-sponsored enterprises. A Jumbo Loan allows a borrower with a high credit score and healthy reserves to secure financing for a larger home.

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FHA Loans

The Federal Housing Administration (FHA) mortgage program is managed by the Department of Housing and Urban Development (HUD), which is a division of the federal government. While these kinds of loans are typically most popular with first-time homebuyers, FHA loans are available to all types of borrowers.

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VA Loans

The U.S. Department of Veterans Affairs' VA loan programs are intended for military service members and their families. Being a government-backed mortgage means that the VA will reimburse the lender for any losses that may result from borrower default, allowing lenders to finance up to 100% of the property's value.

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USDA Loans

The United States Department of Agriculture (USDA) offers a loan program for borrowers who meet certain income requirements and live within designated "rural" areas. This type of mortgage loan is designed for borrowers who have a steady, low or modest income, and yet are unable to secure a conventional loan. There are income restrictions on these types of loans, which vary by county.

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Loan Options
Conventional Loans

A conventional loan is not insured or guaranteed by the federal government, which makes it different from programs like VA, USDA and FHA. These flexible loans allow borrowers to get low rates and often avoid mortgage insurance with a higher down payment.

Rates & More Info
Low Down Payment
Fixed Rate Option
Flexible Terms
Easier To Qualify
FHA Loans

The Federal Housing Administration (FHA) mortgage program is managed by the Department of Housing and Urban Development (HUD), which is a division of the federal government. While these kinds of loans are typically most popular with first-time homebuyers, FHA loans are available to all types of borrowers.

Rates & More Info
Low Down Payment
Fixed Rate Option
Flexible Terms
Easier To Qualify
VA Loans

The U.S. Department of Veterans Affairs' VA loan programs are intended for military service members and their families. Being a government-backed mortgage means that the VA will reimburse the lender for any losses that may result from borrower default, allowing lenders to finance up to 100% of the property's value.

Rates & More Info
Low Down Payment
Fixed Rate Option
Flexible Terms
Easier To Qualify
USDA Loans

The United States Department of Agriculture (USDA) offers a loan program for borrowers who meet certain income requirements and live within designated "rural" areas. This type of mortgage loan is designed for borrowers who have a steady, low or modest income, and yet are unable to secure a conventional loan. There are income restrictions on these types of loans, which vary by county.

Rates & More Info
Low Down Payment
Fixed Rate Option
Flexible Terms
Easier To Qualify

About Our Home Loan Options

It's important to compare mortgage options when you're looking for a new loan. One of the benefits of working with PennyMac is that you get a full range of products so you can compare home loan options and find the one that is best suited to your profile and financial goals. Whether you need to find a loan that allows a lower down payment or you require a flexible term, PennyMac will work with you to find the loan that is right for you.