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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
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- 4,628,533 reviews on ConsumerAffairs are verified.
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- We use intelligent software that helps us maintain the integrity of reviews.
- Our moderators read all reviews to verify quality and helpfulness.
Reviewed March 7, 2025
The reason I looked up the reviews was to see how many other customers had experienced the same issues I have. My loan began around 2005 for approximately $60,000 or less when I recovered my childhood home for my parents, both of whom are now deceased. Over the years, I’ve noticed my monthly payments have increased from $635 to nearly $1,000 per month. Despite making payments on time, the escrow account is consistently negative, and only a small portion of my payments goes toward the principal. After nearly 20 years, the principal balance is still around $30,000 or more. I am completely baffled.
We sincerely apologize that your experience wasn't what you expected. Thank you for bringing this to our attention. Your feedback is incredibly valuable as we work on improving our service. We'll be sure to evaluate your experience and explore ways to enhance our offerings. If you're open to it, we may reach out to you via phone or email to gather more details and see how we can further assist you.
Reviewed March 6, 2025
Horrible service. My insurance, according to PHH did not meet their standards. I was asked to find another company, which I did. After getting the insurance, I received a letter advising, the insurance needed to be back dated to 1/21/25 or I'd be charged 158.00. At no time did the agent I spoke to initially advise of back dating. Nevertheless, agents are incompetent and you get the run around. Plus their English is difficult to understand and they get annoyed when asked to repeat themselves.
We sincerely apologize that your experience wasn't what you expected. Thank you for bringing this to our attention. Your feedback is incredibly valuable as we work on improving our service. We'll be sure to evaluate your experience and explore ways to enhance our offerings. If you're open to it, we may reach out to you via phone or email to gather more details and see how we can further assist you.
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Reviewed Feb. 20, 2025
Well after reading their reviews it looks like everyone has the same issue. I applied to have my house payment in deferral for 3 months due to a divorce for Sept, Oct, and Nov. I received the deferral letter approval in November and I was told my deferral balance would roll to the end of my of my loan and I would resume my new monthly payments. Well that was a lie and I have been trying to deal with this giant circle jerk ever since.
Their international customer service that I had to deal with in whatever foreign country is a joke. Those people don't have a clue about anything and can only read a stupid script that doesn't get you anywhere or answer any of your questions. I was suppose to go back to making my normal monthly payment in December but I couldn't because I had to pay the entire deferral balance which that was the whole point of the deferral.... I wouldn't have to pay my house payment so I could pay lawyer bills and "LIVE".
Fast forward to January, they had me refill out the deferral application in December which was intern was approve in January again right before we closed on our house so now it doesn't even matter. Now my house is sold and I'm trying to purchase a new home and we are suppose to close in 2 weeks and I can't get a loan because they are reporting a 120 day past due on my credit.... In 18 years of owning a home I have never had a late payment and have never dealt with a company that was this big of a joke.... If you are thinking about using them, RUN AWAY!
We're sorry to hear about your experience. We appreciate your feedback and will evaluate opportunities to improve our service in the future. We may reach out to you via phone or email for further information.
Reviewed Jan. 28, 2025
Worst customer service!!! Please Google this company and read all the reviews.... They really suck. When you call there you are directed offshore. Very sad... Nobody knows how to handle customer service.
Reviewed Jan. 28, 2025
Honestly, these people are either breaking the law or they are walking the fine line of doing so. This company does not believe in giving their customers multiple payment options. It always seems to be more of an issue when they change their name. They have had 4 name changes. The customer service is non-existent and their representatives are liars.
During this most recent name change, they have canceled my direct payment that I've had for years and when I went back to add it back online they cancelled it 2 weeks later. When I requested for payment over the phone, they refused and said that they need an amended note. Their agents don't have access to do anything. They are also liars because the people that talks to customers are not PHH employees, but they will lie and say they are. They are contracted service people that I did not authorize PHH for these 3rd party people to have access to my sensitive information.
Reviewed Jan. 14, 2025
I have called over and over and no resolution and now my home is foreclosure. I have payment and they are refusing to take and constantly giving me the run around. They offered mortgage assistance, made me fill out a form and send in documents just for no update after weeks and then they tell me, I have to do it all over again. I have requested a call from the supervisor, and we are going on day 5 and no callback has been received.
Everyone in customer service provides you different information and no one seems to leave notes of the previous conversations. They have told me on a recorded line that I should wait to for the response to mortgage assistance before making payment and now my account is in foreclosure. I just want to make a payment and reinstate my loan at this point. I need justice against this company because I can not lose my home. I need help, they are the worst company.
We're sorry to hear about your experience. We appreciate your feedback and will evaluate opportunities to improve our service in the future. We may reach out to you via phone or email for further information
Reviewed Jan. 8, 2025
Their autopay started failing and kept on charging me late fees for their own system errors. Customer service keeps on denying fault when there is clearly a bug in their software. PHH Mortgage needs to exercise more integrity and stop cheating their customers. And yes, fix their bugs also.
We're sorry to hear about your experience. We appreciate your feedback and will evaluate opportunities to improve our service in the future. We may reach out to you via phone or email for further information.
Reviewed Dec. 16, 2024
PHH violates the law in multiple ways. They are the worst mortgage servicer in the nation. They keep changing their name to avoid litigation and law. They were once Ocwen, now PHH, New Rez, and now they are changing to Onity. The Relationship manager is never available (Gabriel **), never answers the phone nor returns promised phone calls. They use foreign call centers with people who can barely understand, let alone speak English. They make promises to call and deal with issues, but never call you. Anyone would be crazy to have a mortgage with them.
We're sorry to hear about your experience. We appreciate your feedback and will evaluate opportunities to improve our service in the future. We may reach out to you via phone or email for further information.
Reviewed Nov. 8, 2024
Worst ever. They are criminals masquerading as mortgage servicers. DO NOT GIVE THEM YOUR BUSINESS. Bankrupting my poor mother all the while gaslighting and deceiving her. They are inhuman monsters. RUN!
We're sorry to hear about your experience. We appreciate your feedback and will evaluate opportunities to improve our service in the future. We may reach out to you via phone or email for further information
Reviewed July 23, 2024
I rarely write a review online but it seems this is uncontrollable anymore. If there is a 0 rating for them or negative rating I would give them. My previous lender sold my loan to PHH and then from the first day a problem occurred already. They are claiming that they did not got my payment but my bank manager told me they got it. The issue last until present still they haven’t resolve. It’s been 3 months I called them every week to follow and able to escalate to their escalation manager the same so I can’t wait to be refinanced so that I could get out from this horrible experience with this lender.
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