You have a few options to request a payoff quote. Once we receive your request, we will generate the payoff quote and send it to you by fax or mail within four business days. A payoff quote fee of up to $30 may be applied to Residential Loans, and up to $50 for Commercial Loans, as permitted by state law.Option 1: Online Log in to your account on PHHMortgage.com and click Payment at the top of the screen. In the "Loan Payoff" box, click View Payoff Quote. Click CONTINUE to submit the...
READ MOREDepending on the account characteristics, a payoff quote fee of up to $30 may be applied to Residential Loans, and up to $50 for Commercial Loans, as permitted by state law. If the fee applies, it will be included in the payoff quote.
READ MOREOur system can generate a payoff quote with a good-through date up to 30 days in the future.
READ MOREIn addition to the unpaid principal balance, the payoff quote shows the interest due and any outstanding fees and expenses. These may include late charges, tax or insurance advances, recoverable balances, attorney fees, payoff-related fees, etc.
READ MOREAfter we make any required escrow disbursements, we will refund the remaining escrow balance. We will send the refund check to the mailing address on file. Please allow 20 business days to receive the refund check.
READ MOREWe will send a check for the PMI or hazard insurance refund to the mailing address on file within 20 days. Please allow additional time for mailing.
READ MOREIf you send additional payoff funds, we will send a check for the overage to the mailing address on file within 20 days. Please allow additional time for mailing.
READ MOREWe will send the loan documents within 90 days after payoff.
READ MOREMortgage insurance helps you to get a mortgage without having to make a substantial down payment. By paying a mortgage insurance premium, you can purchase a new home with less than 20% down. Mortgage insurance protects the mortgage investor if the account becomes past due. The most common types of mortgage insurance are private mortgage insurance (PMI) and insurance through the Federal Housing Administration (FHA), called a mortgage insurance premium (MIP). If you are...
READ MOREPMI is a type of mortgage insurance. It is typically required on a conventional loan if the down payment is less than 20% of the home’s purchase price. PMI may also be required to refinance if your equity is less than 20% of the value of your home. Equity is the amount you have paid toward the loan principal through the down payment, your monthly payments, and additional payments to principal. Increases to your house’s market value can also increase your equity.
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