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.
Low Down Payment
Fixed Rate Option
Easier To Qualify
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.
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.
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.
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.
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.
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.