Head Office
PennyMac Loan Services, LLC
3043 Townsgate Rd, Suite 200
Westlake Village, CA 91361
United States
Customer Service
Phone: 888-870-6229 (general)
Phone: 866-545-9070 (loan payment)
Phone: 800-777-4001 (customer service)
Email: nil
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About PennyMac Loan Services
PennyMac is a leading American mortgage lender and servicer established in 2008. The California-based company – officially operating as PennyMac Loan Services – employs more than 3,500. A subsidiary of PennyMac Financial Services, the mortgage lending company has offices in 14 locations and caters to more than 1.5 million customers. Products include 15-year-old fixed rate loans, 20-year-old fixed rate loans, 30-year-old fixed rate loans, FHA loans, VA loans, USDA loans and jumbo loans.
Among the top 5 lenders in the US, PennyMac offers homebuyers affordable rates and quick approval for qualified borrowers. The conventional fixed rate mortgages are apparently lower than many government programs which even require mortgage insurance. Homebuyers can choose a fixed-rate or adjustable rate mortgage, with a wide range of down payment options. Conventional loan purchasers can avoid mortgage insurance with a 20% down payment. Term options are flexible and can be used for many types of properties. If you already have a running mortgage, refinancing will help you save on the current payments. Customers will need an 80% LTV to avoid mortgage insurance.
To qualify for a conventional loan, homebuyers will need to show good credit score, minimum 3% down payment, cash reserves for at least cover two months and proof of income. The conventional loan can be used to buy single family homes, planned unit developments, 2 to 4 unit properties and condominiums. There are tools available to calculate the interest rates and monthly payment. The Rates section on the website also has details on the rates and APR. Additionally, you can compare loan options online and pick the most convenient. If you have a question, you can request a call back and speak to PennyMac’s support.
Besides conventional loans, you have FHA home loan, a mortgage insured by the Federal Housing Administration. The FHA loans are easier to qualify and are more affordable with lower down payment requirements. If you are a US service member or veteran, the Department of Veterans Affairs VA Home Loan might be the best pick. VA home loans have no down payment, PMI or upfront Mortgage Insurance Premium. Do you live in an area designed as rural by the United States Department of Agriculture? The USDA home loans offers no appraisal, debt to income ratio or no maximum loan amount. For borrowers who are looking to purchase or refinance a high value property, PennyMac offers jumbo loans. To secure a jumbo home loan, you will need good reserves and a high credit score.
New customers can apply for a loan right on the PennyMac website. If you are an existing customer, login to your account to view statements and make payment. Customers can make payments by debit/credit card or bank account. Set auto payments to have your loan amount automatically debited from bank account. You can also pay by mail and phone. For complaints or queries on branch locations, payment, cancellation, refund, career, or others, reach the PennyMac support.
