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PHH Mortgage

in Home Purchase Mortgages from PHH Mortgage Corporation · NMLS ID #2726

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PHH Mortgage

Unaffiliated

in Home Purchase Mortgages from PHH Mortgage Corporation · NMLS ID #2726

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Highlights
Loan Amount N/A
Loan Term (Years) 15 - 30 years
Credit Score Range 620 - 850
No Origination Fee N/A

PHH Mortgage Review

PHH Mortgage is offered by PHH Mortgage Corporation (NMLS #2726), a direct lender founded in 1977 and based in Mount Laurel, NJ. PHH Mortgage is available in 50 states (and Washington, DC).

Key Takeaways
  • 3 different mortgage programs offered. PHH Mortgage offers FHA, VA, jumbo, conforming, and conventional mortgages.
  • Financing for a variety of property types. Offers home loans for manufactured, single, and multi-family homes.
  • Standard interest rates types. PHH Mortgage offers adjustable-rate mortgages and fixed-rate mortgages.
  • Considers personal use and investment properties. Financing available for primary homes, vacation homes, and even investment homes, such as rental properties.
  • Charges a prepayment fee. This means you will be charged an additional fee if you repay the mortgage early.
  • High maximum LTV ratio. PHH Mortgage has a maximum loan to value ratio of 96.5%, which is higher than average. Most lenders want you to have at least 20% equity.
  • Fair credit accepted. Borrowers with a credit score as low as 620 may qualify for PHH Mortgage.
PHH Mortgage Pros & Cons
Pros Cons
  • Considers applicants with fair credit.
  • Offers financing for single family, multi-family, and manufactured homes.
  • Available in all 50 states.
  • Charges an origination fee.
  • Charges prepayment fees.
PHH Mortgage FAQ

What is the maximum loan term you can get with PHH Mortgage?

PHH Mortgage offers mortgages with terms ranging from 15 to 30 years. Having the option of longer terms allows borrowers to take on larger loan amounts while keeping monthly payments more affordable. However, the longer the term of your loan, the more interest you will pay.

What mortgage rates does PHH Mortgage Corporation offer?

Mortgage rates change daily based on market conditions and vary significantly depending on the loan type and the length of the term. For instance, fixed rate mortgages will typically have a higher interest rate than mortgages with variable rates, and jumbo loans usually have higher mortgage rates than conforming conventional loans. Find the best interest rate available to you by getting quotes from three or more mortgage lenders before choosing a home loan.

Do they charge mortgage origination fees?

Yes, PHH Mortgage may charge a loan origination fee.

What mortgage programs are available?

Besides conventional mortgages, PHH Mortgage offers the following mortgage types:

  • FHA loans: FHA loans are mortgages insured by the FHA. They offer competitive mortgage rates and have less stringent eligibility requirements. However, borrowers must pay a mortgage insurance premium. For instance, you can apply for an FHA loan with a credit score as low as 580. Co-applicants are allowed and you can qualify for a down payment as low as 3%.
  • Jumbo loans: Any mortgage with a loan amount above the conforming loan limits set by the Federal Housing Finance Agency ($548,250 as of 2021).
  • VA loans: A zero down payment mortgage or a refinance of up to 120% of the home's value for American military members, veterans, and their spouses. VA loans offer competitive mortgage rates, and don't have a minimum credit score. However, the mortgage lenders that offer them will typically require a credit score of at least 640.

What property usage types does PHH Mortgage allow?

Some mortgage lenders restrict the type of usage borrowers give mortgaged properties. PHH Mortgage allows the following property usage types: 

  • Primary home
  • Secondary homes and vacation properties
  • Investment properties and house flipping projects

What is the customer service phone number?

The customer service number for PHH Mortgage is .

What is the support contact email?

The support contact email for this business credit card is CustomerCare@mortgagefamily.com.

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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.

Message From PHH Mortgage

A new home is probably the largest purchase you’ll make in your life. As with any purchase, however, more information will often lead to greater satisfaction during and after the buy.

Our expert loan consultants are ready to help you understand your financing options and answer your questions about how much you can afford, the buying process and more. You can get started here by learning some basics about making financing decisions that work best for you now and in the future.

Contact

Hours of Operation

  • Sunday Closed
  • Monday 9:00am - 8:00pm
  • Tuesday 9:00am - 8:00pm
  • Wednesday 9:00am - 8:00pm
  • Thursday 9:00am - 8:00pm
  • Friday 9:00am - 8:00pm
  • Saturday Closed

About PHH Mortgage

Availability

  Available in 50 states and Washington, D.C.
  • Alaska
  • Alabama
  • Arkansas
  • Arizona
  • California
  • Colorado
  • Connecticut
  • Washington, DC
  • Delaware
  • Florida
  • Georgia
  • Hawaii
  • Iowa
  • Idaho
  • Illinois
  • Indiana
  • Kansas
  • Kentucky
  • Louisiana
  • Massachusetts
  • Maryland
  • Maine
  • Michigan
  • Minnesota
  • Missouri
  • Mississippi
  • Montana
  • North Carolina
  • North Dakota
  • Nebraska
  • New Hampshire
  • New Jersey
  • New Mexico
  • Nevada
  • New York
  • Ohio
  • Oklahoma
  • Oregon
  • Pennsylvania
  • Rhode Island
  • South Carolina
  • South Dakota
  • Tennessee
  • Texas
  • Utah
  • Virginia
  • Vermont
  • Washington
  • Wisconsin
  • West Virginia
  • Wyoming

Feature Breakdown

Credit Score Range 620 - 850
Employment Statuses Considered
  • Other
  • Employed Full-Time
  • Employed Part-Time
  • Self-Employed
  • Retired
Intended Use
  • Primary Home
  • Secondary Home
  • Investment
Joint Loan Applications Accepted
  • Individual Applications
Maximum LTV 96.5%
Minimum Age 18
Minimum Down Payment 3.5%
Property Type
  • Single Family Home
  • Townhome
  • Multi-Family Home
  • Manufactured/Mobile Home
Verification Documents Required
  • Driver License (or other photo ID)
  • Proof of citizenship/residence (Green Card)
  • Recent Pay Stubs
  • Proof of Income
  • Proof of Identity
  • Government Issued Photo ID
  • Recent Bank Statements
  • Social Security Number
Investment
Primary Residence
Loan Term 15 - 30 years
Interest Rate Types Offered
  • Fixed-Rate Mortgage
  • Adjustable-Rate Mortgage (ARM)
Mortgage Programs
  • FHA
  • VA
  • Jumbo

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