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 has a wide range of mortgage options to suit your unique needs.

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 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
ARM Loans

An adjustable-rate mortgage, or ARM, is a home loan with two different phases: The first phase offers low payments at a fixed interest rate. This rate is usually very competitive — less than what fixed-rate mortgages can offer. After the first phase ends, you will continue paying off your loan at a rate that will adjust periodically.

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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
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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.

Rates & More Info
Get Started
Home Equity Loans

A form of consumer debt that allows you to borrow money against your home’s equity. The loan payments are in addition to the payments on your existing mortgage, which is why a home equity loan is often called a “second mortgage.”

Rates & More Info
Get Started
Investment Property Loans

If you're looking to purchase a single-family, townhome, condo, or multi-unit property with the intention of earning a return on the investment, an investment loan may be just what you need.

Rates & More Info
    Get Started
Jumbo Loans

A Jumbo Loan is a non-conforming loan used to finance an amount for a property that is above the geographic area’s conforming loan limit 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 amount.

Rates & More Info
    Get Started
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
  Get Started
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
Get Started
Loan Options
ARM Loans

An adjustable-rate mortgage, or ARM, is a home loan with two different phases: The first phase offers low payments at a fixed interest rate. This rate is usually very competitive — less than what fixed-rate mortgages can offer. After the first phase ends, you will continue paying off your loan at a rate that will adjust periodically.

Rates & More Info
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.

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
Home Equity Loans

A form of consumer debt that allows you to borrow money against your home’s equity. The loan payments are in addition to the payments on your existing mortgage, which is why a home equity loan is often called a “second mortgage.”

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

If you’re looking to purchase a single-family, townhome, condo, or multi-unit property with the intention of earning a return on the investment, an investment loan may be just what you need.

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

A Jumbo Loan is a non-conforming loan used to finance an amount for a property that is above the geographic area’s conforming loan limit 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 amount.

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
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

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.

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