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PennyMac Refinance Rates
Min. credit score: 620 · Min. equity: 20%
30-Year Refi
6.255%
APR 6.405%
15-Year Refi
5.430%
APR 5.580%
Cash-Out Refi
6.505%
APR 6.655%
Jumbo Refi
6.420%
APR 6.570%
VA IRRRL
5.630%
APR 5.780%
FHA Streamline
5.880%
APR 6.030%
vs. National Average
National Avg (30yr)
6.770%
PennyMac Difference
-0.515%
PennyMac Pros & Cons
Pros
- Competitive refi rates
- Strong VA specialty
- Nationwide lender
Cons
- Primarily online
- Service varies by region
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Frequently Asked Questions
What is PennyMac's current refinance rate?+
PennyMac's current 30-year refi rate is 6.255%, 15-year is 5.43%, and cash-out rate is 6.505%. Rates may vary based on credit score and loan amount.
What credit score do I need to refinance with PennyMac?+
PennyMac requires a minimum credit score of 620 for most refinance products. Higher scores qualify for better rates.
Does PennyMac offer cash-out refinancing?+
Yes, PennyMac offers cash-out refinancing at 6.505% for qualified borrowers with at least 20% equity remaining after the refinance.