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Home Equity Loans
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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

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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
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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.
  • 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

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.

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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
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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

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