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Huge Redesign. Major Update.

  • Posted by Jeremy Bachmann
  • 12/19/2014
Huge Redesign. Major Update.

Over the past couple years, we’ve seen more customers using phones and tablets to access PennyMacUSA.com. Last week, we redesigned the site to ensure that you’re able to find what you need clearly and easily regardless of the device you’re using. Searching for rates, learning more about smart home finance, and finding the right loan has become much easier.


Why Cash-Out Refinancing May Not Always Make Sense

Why Cash-Out Refinancing May Not Always Make Sense

If your home value is now comfortably above water, you may be tempted to refinance once again to take cash out from your improved home equity. Cash-out refinances typically have no restrictions on how you use the cash you receive. The proceeds can go towards anything from making home improvements to paying for a child's education or even a new car.


Understanding the Rules for Deducting Home Mortgage Interest

  • Posted by Jordan Blakley
  • 04/15/2014
Understanding the Rules for Deducting Home Mortgage Interest

The IRS's home mortgage interest deduction is one of the most valuable tax write-offs for American families. While its effect can vary depending on your income, other deductions, and your mortgage, it's likely that it will reduce your annual tax costs by thousands of dollars. Claiming it is relatively simple for most people, as long as you follow the IRS's rules.


Tax Time - Deducting the Expenses of Owning a Home

  • Posted by Jordan Blakley
  • 04/05/2014
Tax Time - Deducting the Expenses of Owning a Home

According to a 2009 paper from the National Association of Home Builders, a relatively typical American household taking out a typical mortgage can save around $8,600 on taxes in the first five years of homeownership. While you might know that you can write off your mortgage interest, this deduction is one of many that you may be eligible to claim. While laws vary and your situation may be different, here are some of the many expenses that might be deductible for your home.


Understanding ARMs - The Basics of How ARMs Work

  • Posted by Jordan Blakley
  • 04/03/2014
Understanding ARMs - The Basics of How ARMs Work

An adjustable rate mortgage (ARM) is most simply defined as a home loan with an interest rate that can go up or down over time. Part of the rate is typically based on a broader measure of interest rates, called an index. Like any other loan, the initial agreement spells out the terms, so you should have a clear understanding of all the details before you make a decision.