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Monday, December 24, 2012

PHH Mortgage Rates

The mortgage programs at PHH include all major categories - fixed-rate, interest only fixed-rate and adjustable-rate mortgages.

  • Fixed-Rate Mortgage: Stable rates and fixed payment each month make this option attractive though you need to spend more over the entire loan period. Preferable for those who have stable income and have planned to stay in their houses for a long time, the program offers you a number of payment-term options, such as 40, 30, 20 and 15 years.
  • Interest Only Fixed-Rate Mortgage: This program offers you a fixed interest rate for entire loan term with an advantage to pay interest rates only during the initial 5, 10 or 15 year periods. After completing this phase, you will start paying the principal amount at current interest rate.
  • Adjustable-Rate Mortgage: It costs lower than a fixed-rate mortgage but your monthly payment may rise significantly when the market changes and interest rates go up. This is a favorable option if you plan to relocate in near future. On the other хэнд, borrowers with fixed income may not find it favorable to have an ARM. Under this program you have options like Advantage ARM; 3/1, 5/1, 7/1 and 10/1 adjustable-rate mortgage; and 3/1, 5/1, 7/1 and 10/1 interest only adjustable-rate mortgage.

PHH Mortgage Current Rates


Here is an example of PHH Mortgage Current Rates and Refinance Rates that you would find online at the website of the company.

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