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Last Updated: 04/18/2025

PennyMac Home Equity Loans

in Home Equity Loans from PennyMac Loan Services LLC

Last Updated: 04/18/2025

Rating not yet determined1 total votes

1 users recommend

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Highlights

Credit Score Range

Starting at 580

Amount Range

$10,000 - $250,000

Maximum LTV

N/A

Loan Term (Years)

7 - 20

PennyMac Home Equity Loans Review

PennyMac Home Equity Loans is offered by PennyMac Loan Services LLC (NMLS #35953), a nonbank financial services provider founded in 2008 and based in Westlake Village, CA. pennymac home equity loan are available in 50 states and Washington, DC.

Key Takeaways

No primary residences considered. PennyMac Home Equity Loans does not offer financing for primary homes.
Charges a prepayment fee. This means you will be charged an additional fee if you repay the mortgage early.
Cosigner and coborrower applications accepted. A cosigner or coborrower can help you qualify for better rates and terms when applying for PennyMac Home Equity Loans.
Fair credit accepted. Borrowers with a credit score as low as 580 may qualify for PennyMac Home Equity Loans.

PennyMac Home Equity Loans Pros & Cons

Pros

Cons

Considers applicants with fair credit.
Available in all 50 states.

Charges an origination fee.
Charges prepayment fees.

PennyMac Home Equity Loans FAQ

How much can you borrow with a PennyMac Home Equity Loans home equity loan?

A home equity loan allows homeowners to borrow money using their home as collateral (similar to a mortgage). Loan amounts vary depending on the value of the home minus the balance of any mortgages or liens on the property.

PennyMac Home Equity Loans allows borrowers to apply for home equity loans of up to $250,000. The actual maximum loan amount will vary depending on the value of the property, how much you owe on it, and your creditworthiness.

Typically, borrowers with good credit can qualify for up to 85 percent of the value of the property less the balance on their first mortgage.

Generally, the APRs of home equity loans do not include points and financing charges, just the interest rate.

What fees does PennyMac Home Equity Loans charge for a home equity loan?

PennyMac Home Equity Loans may charge a loan origination fee

Is PennyMac a legit company?

PennyMac was founded in 2008, it is a well-established company that has been in business for 18 years.

Unfortunately, we don't have sufficient community reviews to provide a reliable rating of their user experience and customer service.

SuperMoney Disclosure: SuperMoney.com is an independent, advertising-supported service. The owner of this website may be compensated in exchange for featured placement of certain sponsored products and services, or your clicking on links posted on this website. Read more...

Editorial Disclaimer: Editorial and user-generated content on this page is not provided or commissioned by the issuer. Opinions expressed here are the author's alone and have not been approved or otherwise endorsed by any financial institution, including those that are advertising partners.

Contact

Headquarters

3043 Townsgate Rd

Suite 200

Westlake Village, CA 91361

(866) 549-3583

Visit Site

Email Support

Hours of Operation

Sunday

Closed

Monday

6:00AM - 7:00PM

Tuesday

6:00AM - 7:00PM

Wednesday

6:00AM - 7:00PM

Thursday

6:00AM - 7:00PM

Friday

6:00AM - 7:00PM

Saturday

7:00AM - 3:00PM

Other Services by PennyMac Loan Services LLC

Home Mortgage Loans

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