
+1 more

About PHH Mortgage
PHH Mortgage (NMLS #2726) has provided mortgage services and financing solutions for more than 30 years. PHH Mortgage offers a variety of loans for home purchases and refinancing and provides assistance from experienced loan officers. Its website also has mortgage resources, including educational articles, checklists and loan calculators.
- Variety of purchase and refinancing loan types
- Available nationwide
- Online tools and resources
- No fully online application
- No home equity loans or HELOCs
PHH Mortgage details
Rates
In 2021, PHH Mortgage had a slightly higher average rate for home purchase loans than the national average, but rates can vary significantly based on the borrower’s financial status and other factors.
PHH Mortgage does offer adjustable-rate mortgages, which are more popular during times when rates are high due to lower starting interest rates.
PHH Mortgage average home purchase rate vs. national average
Year | Difference from national average |
---|---|
2021 | +0.54% |
2020 | +0.23% |
2019 | +0.29% |
Information pulled from public Home Mortgage Disclosure Act data. Rates reflect noncommercial home purchase loans only.
Application process
From there, a loan officer will contact you directly to gather more information. Be prepared to answer questions about your income and assets; you will also need to submit documentation to verify this information (like W-2s and bank statements). After you receive preapproval, you can use the online borrower portal to see the up-to-date status of your loan.
PHH Mortgage application features
Features | Availability |
---|---|
Online application | X |
Online application | X |
Physical branches | X |
Publishes minimum rate on website | X |
Rate lock | 60 to 90 days |
Pre-qualification (no hard credit pull) | X |
Certified approval letter | Available |
Loan types
You can also refinance with PHH Mortgage, whether you’re aiming to cash out, get a lower interest rate or shorten your loan term. The company offers 15-, 20-, 25- and 30-year terms on its conventional loans.
In 2021, the company closed on 124 home purchase loans out of 355 applications (35%). It denied 145 applications (41%).
Loan applications for home purchases only by year
2021 | 2020 | 2019 | |
---|---|---|---|
Home purchase applications | 355 | 251 | 314 |
Home purchase loans closed | 124 | 97 | 122 |
Home purchase applications denied | 149 | 106 | 110 |
Home purchase preapprovals denied | 0 | 0 | 0 |
Information pulled from public Home Mortgage Disclosure Act data. Includes conventional, USDA, VA and FHA mortgages.
Refinancing
Home purchase vs. refinance loans by year
2021 | 2020 | 2019 | |
---|---|---|---|
Home purchase loans | 1.26% | 1.70% | 4.11% |
Refinance loans | 45.86% | 55.17% | 28.62% |
Cash-out refinance | 52.88% | 43.12% | 67.27% |
Information pulled from public Home Mortgage Disclosure Act Data. Includes conventional, USDA, VA and FHA mortgages.
Requirements
PHH Mortgage doesn’t disclose many of its loan requirements. However, most lenders require a 620 credit score to be eligible for a conventional loan; FHA loans require a credit score of at least 500 to 580.
Jumbo loans typically require higher credit scores — at least 680. PHH Mortgage does state that most FHA loans and VA loans require a 3.5% down payment. A conventional loan typically requires at least a 3% down payment.
National mortgage requirements by type
Min. credit score | Min. down payment | Compare with other lenders | |
---|---|---|---|
Conventional | Typically 620 | Typically 3% | Mortgage lenders |
FHA | 500 | 3.5% with 580 credit score | FHA lenders |
VA | Set by lender (often 580) | 0% | VA lenders |
At the time of publishing, PHH Mortgage does not offer USDA loans. For information on this type of loan, read our guide on the best USDA-approved lenders.
Cost and fees
Featured Reviews
FAQ
Does PHH Mortgage accept cards?
Yes. You can pay with a Visa, Mastercard or Discover card. You can also make payments through Apple Pay or your bank account.
How does PHH Mortgage work?
You can start the application process online by answering six short questions. The PHH Mortgage team then contacts you and walks you through the homebuying or refinancing process. Its representatives help customers understand different types of loans, down payment options and closing costs. You can then apply for preapproval and use PHH Mortgage’s online portal to track the status of your loan, from the time you get an accepted offer through closing.
Is PHH Mortgage legit?
PHH Mortgage is a legitimate mortgage company available throughout the U.S. It offers a variety of loan types for homebuyers and owners looking to refinance existing loans.
Where is PHH Mortgage available?
PHH Mortgage is available in all 50 states and Washington, D.C.
PHH Mortgage Reviews
Filter by Rating
- (1,345)
- (137)
- (104)
- (192)
- (2,683)
Popular Mentions
- 4,628,533 reviews on ConsumerAffairs are verified.
- We require contact information to ensure our reviewers are real.
- We use intelligent software that helps us maintain the integrity of reviews.
- Our moderators read all reviews to verify quality and helpfulness.
A link has directed you to this review. Its location on this page may change next time you visit.
- 4,628,533 reviews on ConsumerAffairs are verified.
- We require contact information to ensure our reviewers are real.
- We use intelligent software that helps us maintain the integrity of reviews.
- Our moderators read all reviews to verify quality and helpfulness.
Sources
- Federal Financial Institutions Examination Council, “ HMDA Data Publication .” Accessed Aug. 23, 2022.
PHH Mortgage Company Information
- Company Name:
- PHH Mortgage
- Year Founded:
- 1984
- Address:
- P.O. Box 5452
- City:
- Mount Laurel
- State/Province:
- NJ
- Postal Code:
- 08054
- Country:
- United States
- Website:
- www.phhmortgage.com
