Found your dream house? Here are some great reasons to work with Madison Management:
Not all applications will be pre-approved.
- Low, everyday rates
- Conventional, FHA, VA and flex-term options available
- A top 2 lender in the U.S.*
- A publicly traded, national lender with more than 7,300 employees (NYSE:PFSI)
Mortgage Loan Options
It’s important to have the right partner when you’re ready to buy a new home, and PennyMac offers a wide range of financing options to suit a variety of needs. Whether you’re looking for a loan for a primary residence, second/vacation home or investment property, we’ll take a look at your complete financial picture to find the right option for your needs. Which one of these products sounds like the best fit for you?
Mortgage Type | Key Benefits | Worth Considering If You… |
Conventional Fixed-Rate Mortgages A low rate that never changes. | *Best rates for qualified borrowers *One rate for the life of your loan *No mortgage insurance with 20% down | *Plan to stay in your home for a longer period of time *Have built a credit history *Already have the funds for a down payment of 5% or more |
Adjustable-Rate Mortgages (ARMs) Pay the lowest rate initially and then transition to an annually adjusting rate. | *The lowest short-term rates *Keeps your monthly payments low for the initial period *Select an initial rate period of 3-10 years based on your plans for the home | *Plan on moving or selling your home in a few years *Have built a credit history *Already have the funds for a down payment of 5% or more |
FHA Mortgages Government-backed loans with more flexible lending guidelines. | *Low down payments *Flexible qualification guidelines *Fixed-rate and ARM options are available | *Want to make a lower down payment *Lack a credit history or have had credit problems in the past |
VA Mortgages Government-backed loans for eligible military members and their spouses. | *Lower or zero down payment needed *Mortgage insurance is not required *Flexible qualification guidelines *Fixed-rate and ARM options are available | *Are an active military member or veteran *Are the surviving spouse of a service member and you haven’t remarried |
Investment Property Mortgages Loans for a property used to produce a return on the investment | *Competitive rates on fixed-rate loans *Higher loan amounts can be permitted | *Have good credit *Possess the funds for the required down payment *Looking to diversify your investment portfolio *Interested in getting a second home or a vacation home |
