Additional Qualification Requirements
No bankruptcy in the last four years and no foreclosures within the last seven years
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- Pennymac Mortgage Review
Pennymac Mortgage Rates Review
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PennyMac is a well-known mortgage lender based in Westlake Village, California. Founded in 2008, the company offers fixed- and adjustable-rate conventional, FHA, and VA loans across the country as well as mortgage refinancing.
How is Pennymac Mortgage rated?
Breakdown
Overall Rating: 0 / 5 (N/A)
PennyMac makes it easier than many of its competitors to compare your mortgage options and rates. Its custom quote tool can give you some idea of where you stand within minutes and without handing over sensitive personal information, like your Social Security Number. It also has online application forms and calculators so you can complete the whole process on your own. But if you need help, representatives are available to assist you, and they seem to do a pretty good job, judging by PennyMac's positive customer reviews.
Pennymac Mortgage Loan Specifics
Available Mortgage Types - 0 / 5
PennyMac offers a competitive range of mortgages with fixed- and adjustable-rate terms. You can view all of its latest rates on its website and get a custom quote to see which options are available to you. If you want to learn about specific fees, you must contact the company for more information. But its online tools can give you some sense of whether PennyMac is the right mortgage lender for you in just a few minutes.
Types of Mortgage Loans Offered
- Fixed Rate 15 Year
- Fixed Rate 20 Year
- Fixed Rate 30 Year
- 3/1 ARM
- 10/1 ARM
- VA Fixed Rate
- VA Adjustable Rate
- FHA Fixed Rate
- FHA Adjustable Rate
Pennymac Mortgage Customer Experience
Customer Experience - 0 / 5
PennyMac has a good array of online resources to help you figure out how much home you can afford, which type of mortgage is best for you, and how much one of its mortgages might cost you. Its custom quote tool is your best bet for figuring out if PennyMac is a good match for you. Then, once you've decided which loan you want, you can fill out its online application form or contact the company to figure out your next steps.
Online Features
| Online Application | No |
| Online Quote | Yes |
| Additional Tools and Resources | Mortgage Calculator Affordability Calculator Help Articles Check Today's Rates |
| SSN Required for Quote | No |
Pennymac Mortgage Qualification Requirements
Qualification Requirements - 0 / 5
Qualification requirements depend in part on which mortgage you're interested in and whether the home is your primary residence. Those with fair or better credit should be able to get approved. By using PennyMac's custom online quote tool, you can get a sense of the rates you'll pay. You won't find a specific rundown of all the qualification requirements on the company's website, as mortgage lenders rarely release this information. If you have any questions about whether or not you qualify, you can always contact PennyMac or fill out an online application form to find out.
Key Requirements at a Glance
| Minimum FICO Score | 620 |
| Minimum FICO Score (FHA) | 640 |
Pennymac Mortgage Lender Reputation
Reputation & Transparency - 0 / 5
Though it hasn't even been around two decades yet, PennyMac has already established itself as a leader in the industry, with the customer reviews to back it up. It's received higher ratings from borrowers than you normally see with mortgage lenders, with a 4.1 from TrustPilot and an A+ Better Business Bureau rating. It has earned some complaints as well, but this is to be expected when you're talking about a major mortgage lender and doesn't pose any serious cause for concern.
Key Facts
| Lender Type | Direct Lender |
| Year Founded | 2008 |
| BBB Rating | A+ |
| BBB Positive Reviews | 336 |
| BBB Negative Reviews | 147 |
| Trustpilot Rating | 2.8 out of 5 |
| Collection Date | 2020-12-01 |
Complaints & Regulatory Actions
| Nationwide Mortgage Licensing System ID | 35953 |
| The Nationwide Mortgage Regulatory Actions | 2 |
| Consumer Financial Protection Bureau Complaints | 888 |
Company Profile
| Full Name | Pennymac Mortgage Rates |
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