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MORTGAGE LOANS

Building Your Path to Homeownership

At Penny Lane Financial, we provide personalized mortgage solutions tailored to each individual—not a one-size-fits-all approach. Unlike traditional lenders, we use a common-sense approach to help you secure the best loan for your unique financial needs. With access to competitive rates from top A-rated lenders and flexible options from non-conforming private lenders, we offer affordable mortgage solutions, including home equity loans, fixed and adjustable-rate mortgages, FHA loans, and VA loans. Our customized mortgage plans are designed to suit your needs, with competitive mortgage rates and terms. Whether you’re seeking personalized mortgage assistance or professional mortgage advice, our local mortgage experts are here to guide you through affordable home financing options.

Buying a House

How we work...

We partner with over 100 investors to secure highly competitive rates across a wide variety of mortgage loan programs. Our offerings include fixed-rate mortgages (10, 15, 20, and 30-year terms), adjustable-rate mortgages (fixed for 1, 3, 5, 7, or 10 years), and specialized loans such as Conventional, High-Balance, Jumbo, VA, USDA, FHA, Commercial, Non-Conforming, and Reverse Mortgages. We also provide Home Equity Lines of Credit (HELOCs) and HELOANS. Whether you need full documentation, limited documentation, non-owner-occupied (investor) financing, or multi-family options, our team is here to meet your unique financing needs.

Type of Mortgage Loans We Offer

Suburb Houses

Conventional

Home Loans

A flexible mortgage option with competitive rates, ideal for buyers with strong credit and stable income. Perfect for purchasing or refinancing your home.

Couple with Dog

Reverse Mortgage

Unlock your home’s equity for tax-free cash with no monthly mortgage payments. A smart solution for retirees seeking financial flexibility.

Together Again

Veterans Affair

Home Loans

Exclusive for veterans and active-duty service members, offering no down payment, competitive rates, and flexible terms to make homeownership more accessible.

Interior design

FHA Home Loans

Backed by the Federal Housing Administration, this loan is ideal for low-to-moderate-income buyers with lower down payment and credit score requirements.

House with a Pool

Jumbo

Home Loans

Need to borrow above the conforming limits? We offer tailored lending solutions with competitive rates and flexible terms to help you secure your dream home.

Flexible Payment Planning

Non-Qualified

Mortgage Loans

Designed for borrowers with unique financial situations, these flexible loans offer customized solutions without the strict requirements of traditional mortgages.

Penny Lane Financial is your trusted partner in navigating the path to homeownership. Whether you're refinancing or purchasing your next home, we make the process simple and stress-free. Our streamlined approach ensures a smooth and straightforward loan experience tailored to your needs.

With a wide range of home loan options—including Conventional, FHA, Reverse Mortgages, and VA loans—and competitive mortgage rates and terms, our experienced mortgage specialists are here to provide professional mortgage advice and help you find the right solution for your unique situation.

We offer affordable mortgage solutions, home equity loans, mortgage refinancing, and first-time homebuyer loans. Our customized mortgage plans and personalized mortgage assistance are designed with your financial goals in mind. As local mortgage experts, we focus on providing affordable home financing options and the best mortgage services to help you achieve your homeownership dreams.

Dedicated Professionals

Wide Variety of

Loan Options

Local and Friendly

Advice

Ready to explore your options? Talk to one of our experts to check today's rates and a Pre-Approval for your next home purchase.

When you're ready, our easy online application makes getting started a breeze.

Why Choose Penny Lane Financial?

Home Deck and Kitchen
Are you 62+ years old, looking to enhance your lifestyle and unlock the full potential of your home's equity?

If you're 62 or older and looking to enhance your lifestyle by accessing your home’s equity, a reverse mortgage could be the perfect solution. At Penny Lane Financial, we specialize in guiding seniors through the reverse mortgage process with care and expertise. Discover how a reverse mortgage can offer financial flexibility and security. Learn about reverse mortgage benefits and check your eligibility today.

Find out the Reverse Mortgages benefits and check your eligibility.

Explore Reverse Mortgage Solutions

First-Time Homebuyer Information

Buying your first home can feel overwhelming, but with the right guidance, it can be an exciting and rewarding process. We're here to help you throughout every step of the way. To make things easier, we've created several blogs to help you better understand the homebuying journey and have more detailed insights on each step.

Related Blogs

Take the first step toward the right mortgage

Frequently Asked Questions About The Mortgage Process

The mortgage process can bring up lots of questions for homebuyers, as well as concerns about various loan options and requirements. Whether you're curious about mortgage loans, refinancing, eligibility, or the steps in the process, we're here to help. Consider some of these frequently asked questions about the mortgage process and more.

  • What are the differences between fixed, fixed index and variable annuities?
    Fixed, fixed index and variable annuities differ in the way they generate earnings and also in the amount of risk involved. When you buy a fixed annuity, the insurance company guarantees you an interest rate for a certain period of time. At the end of this period, the insurance company will declare a renewal interest rate and another guarantee period. In addition, most fixed annuities have a minimum interest rate that is guaranteed for the life of the contract. In other words, regardless of market conditions, you will never receive less than your guaranteed percentage rate. Fixed annuities typically appeal to individuals who feel more comfortable knowing exactly how much their money is earning. A fixed index annuity gives you more performance risk than a fixed annuity however more potential return. It has less performance risk than a variable annuity but also less potential return. It is also known as an equity indexed annuity, but the name is not appropriate as you are not actually invested in specific equity products. As its name implies, a fixed index annuity is a type of fixed annuity in which the interest rate is determined in part by reference to an investment-based index such as the S&P 500 Composite Stock Price Index which is a collection of 500 stocks intended to represent a broad segment of the market. As interest is credited, the interest earnings are locked in to the account value and the account will not participate in any future market downturns. Because of this reference to an index, the annuity offers the ability to earn credited interest resulting from a rising financial market while at the same time providing the security and guarantees similar to those associated with traditional fixed annuities. With a variable annuity, you have added control over your investment dollars. You allocate your funds among a variety of investment options with objectives ranging from aggressive to conservative; insurance companies call these sub-accounts. Your investment returns are tied to the performance of the underlying investments of the sub-accounts. As an investment in securities, the principal amount and investment earnings in a variable annuity are not guaranteed and will fluctuate with the performance of the underlying investments. They differ from fixed products because the policy owner bears investment risk and possible loss of principal. As these products are more complex and have associated with them more risk. Fixed, fixed index and variable annuities offer you a combination of compound interest and tax deferral. When your earnings are not subject to taxes each year, they compound faster. Faster growth of your money means more retirement income for you in the long run.
  • What are the main advantages of annuities?
    One of the biggest advantages that annuities have to offer is that they can provide guarantee income payments. Only an insurance company issuing the annuity can guarantee lifetime and beneficiary income payments. Unlike other tax-deferred retirement accounts such as 401(k)s and IRAs, there is no annual contribution limit for a non-qualified annuity. That allows you to put away more money for retirement, and is particularly useful for those that are closer to retirement age and need to catch up. All the money you pay into an annuity compounds year after year without a tax bill from Uncle Sam. That ability to keep every dollar working for you can be a big advantage over taxable investments. When you cash out, you can choose to take a lump-sum payment from your annuity, however most retirees prefer to set up guaranteed payments for a specific length of time, or for the rest of their life, providing a steady stream of income. The annuity serves as a complement to other retirement income sources, such as Social Security and pension plans to enable you to maintain a certain standard of living.
  • What are the main disadvantages of annuities?
    Surrender charges - You're likely to face a prohibitive surrender charge for pulling money out of an annuity within the first several years of buying it. Surrender charges generally decline annually until they get to zero. High annual fees - If you invest in a variable annuity you may encounter high annual expenses. You will have an annual insurance charge that can run 1.25% or more, annual investment management fees that range anywhere from .5% to more than 2% and fees for various insurance riders that can add another .6% or more. Add them up and you could be paying 2% - 3% a year, if not more. Also, as with a 401(k) or IRA it's generally not a good idea to take out any money from an annuity until you reach age 59 1/2 because withdrawals made prior to that are hit with a 10% early withdrawal penalty from the IRS.
  • What can an annuity do for me?
    Provide growth potential - A fixed index annuity has the potential for higher interest earnings than a traditional fixed annuity with a guaranteed minimum interest crediting rate. There's also no direct downside market risk to your money. Your principal is protected from market fluctuations. Helps you sleep better - An annuity can help you save money on a tex-deferred basis and can guarantee you'll receive income for life. so no matter how long you live, you won't outlive your retirement income. Fills in the gaps - Sometimes pensions, IRAs and Social Security don't provide enough income for you to live the way you want during retirement. A fixed index annuity can help suppliment your retirement income.
  • When is an annuity right for me?
    The following situations are examples where an annuity might be exactly what you need. 1. You're saving for retirement - If you're already contributing the maximum to other retirement plans like an IRA or 401(k), a fixed index annuity is an attractive retirement planning option that grows tax-deferred. 2. You don't need the money soon - If you don't anticipate needing the money from a fixed index annuity prior to the time you turn 59 1/2 then a fixed index annuity may be a good option for you. 3. You're worried you might outlive your savings - Annuities can provide guaranteed income for the rest of your life, no matter whether you live to be 100 or even 120. With modern advances in health and medicine people are living longer than ever.
  • What is an annuity income rider?
    Annuity riders have been around for decades, but became popular after the stock market crash in 2008. Investors were driven to find annuities that had income guarantees attached to their mutual fund investments. Those attached benefits are called income riders, and were originally used with variable annuites. Today, income riders are diverse and can be purchased on fixed index annuites as well.
  • How do life annuities differ from life insurance?
    While traditional life insurance guards against "dying too soon", an annuity, in essence, can be used as insurance against "living too long". With an annuity, you will receive in return a series of periodic payments that are guaranteed as to the amount and the payment period. Thus, if you choose to take the annuity payments over your lifetime (there are many other options), you will have a guaranteed source of "income" until your death. If you "die too soon" (that is if you don't outlive your life expectancy), your beneficiary will get back from the insurer what is left in the account. On the other hand, if you "live too long" and outlive your life expectancy you may get back far more than what you paid in.
  • What sources of guaranteed income do you already have?
    Guaranteed sources of income in retirement may include pensions, annuities, Social Security, or other investment vehicles designed to provide a regular income stream. When planning for retirement, it's important to take stock of these guaranteed income sources to understand how they contribute to your overall financial security and ensure you're prepared for retirement.
  • How much do you already have saved for retirement?
    Knowing how much you've saved for retirement is an essential aspect of planning for your future. It's crucial to understand your current savings and investments as they play a pivotal role in achieving your retirement goals. This can encompass various accounts, such as 401(k)s, IRAs, or other personal investments that serve as a foundation for your retirement planning.
  • Have you discussed your concerns with a financial professional?
    Discussing your retirement concerns with a financial professional is a critical step in creating a robust and personalized plan for your future. Engaging with a financial advisor ensures that your worries, aspirations, and specific financial goals are thoroughly addressed. Through these discussions, you gain tailored advice and strategies, providing you with the confidence needed to make informed decisions about your retirement.
  • Do I have enough money and how long will it last?
    Ensuring financial security in retirement is a common concern. Determining whether you have enough savings and how long they will last can be daunting. Consulting with a financial professional can provide clarity on these important aspects. By assessing your current finances and future financial goals, a financial professional can help develop a comprehensive plan, offering strategies to sustain your retirement funds for the duration you need.
Get expert advice from a local and friendly company. 
CONTACT US
ADDRESS
OFFICE HOURS
PHONE
EMAIL

1804 W Union Ave, Suite 202, Tacoma, WA 98405

Monday to Friday

9:00 am - 5:00 pm

253-327-1177

You can also visit us; we'd love to meet you.
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