PennyMac: Purchase and Refinance Loans

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About

Founded in 2008, PennyMac is a substantial player in the mortgage market. The company offers various mortgage and loan opportunities, ranging from mortgage relief programs to refinancing options. It is a Top Three Lender according to Insider Mortgage Finance and was voted a Top Mortgage Lender by Bankrate in 2020. PennyMac has served more than 1.8 million homeowners.

As a direct mortgage lender and not a bank, PennyMac does not offer traditional banking services; instead, its sole focus is on the mortgage industry. It sometimes purchases loans and restructures mortgages, and was a part of the Home Affordable Refinance Program (HARP) and the Home Affordable Modification Program (HAMP).

PennyMac’s services are broken into two categories: Purchasing & Refinancing. Under “Purchasing,” customers can find information on Adjustable Rate Mortgages, Fixed Rate Loans, and VA Loans. PennyMac also offers “Multifamily Loans” - loans for multifamily or apartment buildings. Under “Refinancing,” PennyMac lists a variety of options, including Cash Out Refinancing and Fixed Rate Loans.  As far as mortgages offered, PennyMac has 30-year, 20-year, and 10-year Fixed Rate Mortgages, as well as 5 and 7 year Adjustable Rate Mortgages.

This bank profile is not an endorsement or advertisement for the bank's products and services.  RateZip is an independent publisher of bank information.

PennyMac Refinance & Purchase Loans

ProductRateApr
30yr Fixed3.124%3.205%
15yr Fixed2.125%2.339%

Rates updated 10/21/2021 19:30 PM CDT. Rates are verified at the time of collection from public sources, and are subject to change at any time.

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