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PennyMac Refinance Review
By the Wirly Editorial Team | AI-assisted, human-reviewed
Key Statistics
Total Originations
360,049
HMDA 2024
Avg Loan Amount
$0
National average
Denial Rate
0%
National average
States Active
41
With HMDA filings
At a Glance
Min Credit Score
620
Loan Types
Conventional, FHA, VA, Jumbo
Notable Features
- Streamlined refi for existing customers
- Online and phone-based process
- Competitive rates for conforming loans
HMDA Lending Data
Top states by refinance origination volume. Source: HMDA 2024
Pros and Cons
Pros
- +Simple refinance process for current PennyMac customers
- +Competitive rates on conforming and government loans
- +No in-person visit required
Cons
- -Limited branch locations
- -Less competitive for jumbo or non-conforming loans
- -Online tools are functional but not best-in-class
Frequently Asked Questions
Is PennyMac good for refinancing?
PennyMac is rated 4.1/5 on Wirly and is best suited for borrowers looking for existing pennymac borrowers. They processed 360,049 refinance originations nationally in 2024, according to HMDA data.
What credit score do I need for PennyMac?
PennyMac requires a minimum credit score of 620 for mortgage refinancing. However, better rates are typically available for borrowers with scores of 740 or higher.
What loan types does PennyMac offer?
PennyMac offers Conventional, FHA, VA, Jumbo refinance loans. VA loans are available for eligible military members and veterans.
What is PennyMac's denial rate?
PennyMac's national refinance denial rate is 0%, based on 2024 HMDA data. Denial rates vary by state and borrower profile.
How does PennyMac handle complaints?
CFPB complaint data for PennyMac can be found on the Consumer Financial Protection Bureau's complaint database.
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Ready to explore PennyMac?
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This review is for educational purposes only and does not constitute financial advice. HMDA data sourced from the CFPB. Complaint data from the CFPB Consumer Complaint Database. Wirly is not a lender or mortgage broker. See our methodology.