PennyMac Loan Services
PennyMac Loan Services is a mortgage lender offering a range of home loan options and services, including loan origination, refinancing, and online tools for property valuation and payment management.
Home Loan Options
PennyMac Loan Services offers a variety of home loan options to meet different borrower needs. These include Federal Housing Administration (FHA) loans, Department of Veterans Affairs (VA) loans, Jumbo loans for higher loan amounts, and conventional loans. These options cater to both first-time homebuyers and experienced borrowers, providing flexibility in financing home purchases or refinancing existing loans.
Home Purchase and Refinancing Services
PennyMac provides services for both home purchases and refinancing. Borrowers can choose from a wide array of purchase loan options, while existing homeowners have the opportunity to refinance their current mortgage. The company offers various refinancing options to help borrowers lower their interest rates, shorten their loan terms, or cash out equity from their homes.
Correspondent Lending Service
PennyMac operates a correspondent lending service that acquires newly originated loans from independent mortgage bankers, banks, and credit unions. This service allows these institutions to sell their loans to PennyMac, providing them with liquidity and enabling them to continue lending to their clients.
Home Value Estimator Tool
The PennyMac website features a Home Value Estimator tool that helps users assess the value of their property. This online tool provides an estimate based on current market conditions, assisting homeowners and potential buyers in making informed decisions about purchasing or refinancing homes.
Mobile App and Online Services
PennyMac offers a mobile app that allows borrowers to manage their accounts and payments conveniently from their smartphones. Additionally, the company provides online mortgage calculators to help users estimate their potential mortgage payments and determine home affordability. These digital tools enhance the overall customer experience by offering accessible and user-friendly resources.