Home loans and home buying advice – Mortgage Choice #figure #mortgage #payment


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Home buying advice

With tax time fast approaching, now is the perfect time to review your current financial situation and make sure you are in the best possible position for your needs.

Tax time also provides us with the perfect time to make changes to our financial situation in order to improve it.

Generally speaking, there are three easy things all homeowners can do to improve their financial position.

Firstly, you can start overpaying on your mortgage. With interest rates sitting at historical lows, now is the perfect time to contribute additional funds to a mortgage.

Contributing an additional $100 a month can not only help you to save thousands of dollars in interest over the life of your loan, but it can significantly slash your loan period. Even one-off extra repayments can make a significant difference to the length and overall cost of your home loan.

In addition to overpaying your mortgage where possible, making salary sacrificed super contributions offers a simple way to save on tax and build wealth.

Salary scarified super contributions allows you to pay part of your before-tax salary into your super rather than taking the money as cash in hand. These contributions are taxed at 15%, which is likely to be below your marginal tax rate (which could be as high as 46.5%).

Finally, given that your income is your biggest asset, it makes sense to protect it. While the majority of superannuation funds offer some level of income protection cover, this cover is often not adequate.

It is important to do your due diligence and make sure whatever income protection insurance you currently have is adequate. If it isn’t, it is vital you do something about it, before it is too late.

In the same way that it is important for you to properly insure your vehicle in the event that unforeseen circumstances arise, it is also vital to properly insure your income.

Home buying guides

About Mortgage Choice

Established in 1992 by brothers Rod and Peter Higgins, Mortgage Choice was founded with the aim to help Australians improve their financial situation by offering a choice of home loan providers, coupled with the expert advice of a mortgage professional.

Since that time, we have grown and developed into a fully fledged financial services provider, and our founding principle remains very much at the heart of what we do.

Over 20 years of industry experience has taught us that you want advice you can trust and understand, from experts who have your best interest at heart. We now have the ability to deliver this across various financial products, including home loans, financial planning, car loans, personal loans, commercial loans, asset finance, deposit bonds, as well as risk and general insurance.

The information provided in this website is for general education purposes only and does not constitute specialist advice. It should not be relied upon for the purposes of entering into any legal or financial commitments. Specific investment advice should be obtained from a suitably qualified professional before adopting any investment strategy.

*Note: the home loan with the lowest current interest rate is not necessarily the most suitable for your circumstances, you may not qualify for that particular product, and not all products are available in all states and territories.

#The comparison rate provided is based on a loan amount of $150,000 and a term of 25 years. Warning: This Comparison Rate applies only to the example or examples given. Different amounts and terms will result in different Comparison Rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the Comparison Rate but may influence the cost of the loan.

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Mortgage Advice #jumbo #mortgage #rate


#mortgage advice

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Mortgage advice

If you re in debt and struggling with mortgage payments, remortgaging (changing your mortgage) can be an effective technique for either reducing your monthly mortgage repayments or using equity in your home to pay off a proportion or all of your debt.

If you’d like to find out more about using your mortgage (or a remortgage) to repay your debts, please talk to your existing mortgage provider, or contact an Independent Financial Advisor (IFA) to discuss your options. To find an IFA in your area, visit www.unbiased.co.uk.

What if a remortgage isn’t right for me?

At PayPlan, we provide free debt help and advice – and access to a wide range of practical debt solutions that help people to deal with their debt and get on with living their life.

The best way to find out what makes us different is to call us free on 0800 280 2816 and have a chat with one of our fully trained advisers. They’ll listen to you and talk about you, your life, your debt and your aspirations. You’ll find them understanding of your situation and helpful in your search for a solution that’s right for you.

Call us today on 0800 280 2816 for a confidential, no obligation chat about your options. Or you can complete and submit our online Debt Help form and we’ll call you back.

THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE OR ANY OTHER DEBT SECURED ON IT.

IF YOU ARE THINKING OF CONSOLIDATING EXISTING BORROWING, YOU SHOULD BE AWARE THAT YOU MAY BE EXTENDING THE TERMS OF THE DEBT AND INCREASING THE TOTAL AMOUNT YOU REPAY.

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PHH Mortgage, Service Center, Customer Service #mortgage #table


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PHH Mortgage

PHH Mortgage ranks among the ten largest originators and servicers of mortgage loans in the United States. A subsidiary of PHH Corporation headquartered in Mount Laurel, New Jersey, PHH Mortgage is distinguished as a leading non-bank originators and servicers of residential mortgages with a unique outsourcing model, offering mortgage solutions for the real estate market and financial institutions.

Your loan may be serviced by PHH Mortgage even if you have borrowed from Bank of America. USAA, Merrill Lynch or Wells Fargo. The list of companies that it serves can be impressively long with over 1,500 financial institutions, regional banks, community banks, credit unions, real estate companies, corporations and government agencies.

How to Apply for Home Financing at PHH?

As a leading originator of residential mortgages, PHH can offer you a range of home loan options with some unique benefits. You can get preapproved without spending anything and also close your loan at a predetermined date. The company offers to pay $500 if it fails to close by your requested date.

PHH Mortgage offers a wide variety of fixed-rate and adjustable-rate mortgages. Depending upon your convenience, you can choose from 10, 15, 20, 25 and 30 year fixed-rate mortgages. Similarly, the choices in ARM can include 3/1, 5/1, 7/1 and 0/1 adjustable-rate mortgages.

To apply, you can either call (800)210-8849 or get started online at www.phhmortgage.com. You can talk to a mortgage consultant over phone for the best option from over 100 home loan products and a custom rate quote.

To apply online, you need to complete a form, providing all necessary information and calling on the phone number that appear on the confirmation page that gets generated after you submit the application.

PHH Mortgage Services

PHH is said to have over a million loans under its mortgage servicing portfolio, making it the nation’s leading servicer, offering services to over 500 community banks and nearly 900 credit unions, including many large national and regional banks.

How to make PHH Mortgage payments?

You can pay your mortgages either by phone or online. To pay by phone, you can call 1-877-729-3273 for a quick one-time payment through Western Union Speed Pay. To use online payment options, you should visit mortgagequestions.com, the online mortgage service center for PHH.

How can I log in to PHH Mortgage Service Center?

You must have correct login details to enter mortgagequestions.com, which is a website to access PHH Mortgage service center online. You need to sign up before you can log in to your account and view details on payment history, escrow, interest and taxes, and PMI. You can also set up auto pay to allow the service center to deduct the amount of your monthly payment automatically from a checking or savings account.

What is PHH Mortgage payoff phone number?

If you want to pay off early or make extra payments, you need to contact the mortgage servicing department for a payoff quote. You can ask anything about your existing mortgage, including mortgage payoff, by calling the phone number 800-449-8767 .

My loan is originated at USAA. How can I contact PHH Mortgage Service Center for USAA?

You can contact the servicing department by phone. Just call 1-800-449-8722 between 7:30 a.m. and 7:30 p.m. CT, Monday through Friday.

I can’t log in to mortgagequestions.com. How can I get the help?

You can call 800-449-8767 for any servicing-related issues, including problems with mortgagequestions.com login page.

PHH Mortgage Customer Service

If you are a new client, you can call (800)210-8849 for queries related to application.

What is the customer service mailing address?

The following is the mailing address to send your queries or complaints by post.

P.O. Box 5452
Mount Laurel,
New Jersey 08054-5452

What if I am not satisfied with the response of PHH Mortgage customer service department?

You can contact an escalation specialist by dialing (866)747-3927 between 8:30 a.m. and 5:00 p.m. ET.

What is the address of the company s Florida office?

The address is as follows.

PHH Mortgage
5201 Gate Parkway
Jacksonville,
Florida 32256


Current Home Loan Interest Rates #mortgage #rate


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Current Rates

* All rates above quoted with 1% origination

*Based on loan amounts of $165,000+

*Subject to credit income requirements

All conventional rates and APRs assume 80% financing on a $165,000 loan value with max loan of $417,000. Jumbo rate/APR minimum $417,000 loan amount and 70% financing. Offers may terminate at any time without notice. Rate/APR calculated on a 365 day year with typical closing costs. Rates/APRs subject to change in closing costs and properties. All rates as of date posted on this website with 40 day lock period. Signed loan application required to lock rate. Rates may be higher for credit scores below 740 middle score. APR will change with loan amount and percentage of home being financed.

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Current Rates


2nd mortgage calculator #arbor #mortgage


#2nd mortgage calculator

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Second/Vacation Home Mortgage

Learn More

1. Interest rate is an annual rate and is compounded half-yearly, not in advance. Interest rates are subject to change without notice at any time. Applicable to residential mortgages only and subject to Royal Bank of Canada lending criteria for residential properties.

2. Special Offers are discounted rates and are not the posted rates of Royal Bank of Canada. Specials Offers may be changed, withdrawn or extended at any time, without notice.

The annual percentage rate (APR) is based on a $ 250,000 mortgage for the applicable term assuming a processing fee of $250 (which includes fees associated with determining the value of the property). If there are no cost of borrowing charges, the APR and the interest rate will be the same.

For mortgages approved on or before October 31, 2016 funds must be advanced within 120 days of date of application in order to qualify for the Special Offer rate.

Start Your Online Mortgage Pre-Approval

Lock your rate and know exactly how much home you can afford. Start your pre-approval online and an RBC mortgage specialist will be in touch within 24 hours to help you complete your pre-approval application.


United States Prime Rate #best #mortgage #rates


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Prime Rate

The Current United States Prime Rate is: 3.5 %

July 27, 2016: The FOMC has voted to keep the
target range for the fed funds rate at 0.25% – 0.5%.
Therefore, the United States Prime Rate remains at 3.5%
The next FOMC meeting and decision on short-term rates
will be on September 21 ST. 2016.

The U.S. Prime Rate is a commonly used, short-term interest rate in the banking system of the United States. All types of American lending institutions (traditional banks, credit unions, thrifts, etc.) use the U.S. Prime Rate as an index or foundation rate for pricing various short- and medium-term loan products. The Prime Rate is consistent because banks want to offer businesses and consumers loan products that are both profitable and competitive. A consistent U.S. Prime Rate also makes it easier and more efficient for individuals and businesses to compare similar loan products offered by competing banks.

Each U.S. state does not have its own individual Prime Rate, so the New York Prime Rate or the California Prime Rate are in fact the same as the United States Prime Rate.

When the 4 largest bank holding companies in the United States (by assets) change their Prime Rate, this website, www.FedPrimeRate.com. will update its published U.S. Prime Rate. Currently, these four banks are:

  1. JPMorgan Chase Co.

  • Bank of America Corp.

    Providers of consumer and commercial loan products often use the U.S. Prime Interest Rate as their base lending rate, then add a margin (profit) based primarily on the amount of risk associated with a loan. Moreover, some financial institutions use Prime as an index for pricing certain time-deposit products like variable-rate Certificates of Deposit.

    It’s important to note that the Prime Rate is an index, not a law. Consumers and business owners can sometimes find a loan or credit card with an interest rate that is below the current Prime Lending Rate. Lenders will sometimes offer below-Prime-Rate loans to highly qualified customers as a way of generating business. Furthermore, below-Prime-Rate loans are relatively common when the loan product in question is secured, as is the case with home equity loans, home equity lines of credit and car loans.

    Every U.S. bank sets its own Prime Rate. However, the Prime Rate is invariably tied to America’s cardinal, benchmark interest rate: the Federal Funds Target Rate (or Fed Funds Target Rate [FFTR].) The FFTR is set by a committee within the Federal Reserve system called The Federal Open Market Committee (FOMC ). The FOMC usually meets every six weeks, and it is at these meetings that the FOMC votes on whether or not to make changes to the FFTR. When the FFTR changes, the United States (Fed) Prime Rate will also change. If the FOMC votes to make no changes to the FFTR, then the U.S. Prime Rate will also remain unchanged.

    Since the second quarter of 1994, a rule of thumb for the U.S. Prime Rate has been:

    The FOMC’s primary objectives are to keep inflation under control and maintain steady economic growth with maximum sustainable employment within the United States.

    The U.S. Prime Interest Rate is used by many banks to set rates on many consumer loan products, such as student loans, home equity lines of credit, car loans and credit cards. If you read or hear about a change to the U.S. Prime Rate, then any loan product that is tied to the Prime Rate will also change, like variable-rate credit cards or certain adjustable-rate mortgages.

    The Current Fed Prime Rate is: 3.5 %

    (the last rate change — an increase of 25 basis points
    [0.25 percentage point] — occurred on December 17, 2015)


  • What Is Prime Mortgage Rate – Mortgage Refinance Information #compare #mortgage #calculator


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    What is prime mortgage rate If you do this, then chances are you will find the best rate you can control in your situation. 2.Target to lower the refinancing rate mortgage, if you have trouble making your monthly payments.

    what is prime mortgage rate

    Talk to your supervisor loan provider about obtaining a savings approach in place.�The best place to get more information about bad credit mortgage refinancing is on the Internet. With the recent decline in home sales, most home mortgage refinance lenders are skeptical on future profit margins.

    what is prime mortgage rate

    what is prime mortgage rate

    When you look into refinancing your home, it is important to ask these questions, or you can run into many problems.�You can refinance existing loans VA home loan with a lower rate using a VA IRRRL (Interest Rate Reduction Refinancing Loan). Get on the road is more fun than watching the clock tick time in a small apartment.�Most companies organize sites that offer comprehensive information on all the services and options.


    Prime Rate Definition #interest #rates #today


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    Prime Rate

    What is the ‘Prime Rate’

    The prime rate is the interest rate that commercial banks charge their most credit-worthy customers. Generally, a bank’s best customers consist of large corporations. The prime interest rate, or prime lending rate, is largely determined by the federal funds rate. which is the overnight rate that banks use to lend to one another; the prime rate is also important for individual borrowers, as the prime rate directly affects the lending rates available for a mortgage. small business loan or personal loan.

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    BREAKING DOWN ‘Prime Rate’

    Default risk is the main determiner of the interest rate a bank charges a borrower. Because a bank’s best customers have little chance of defaulting, the bank can charge them a rate that is lower than the rate charged to a customer who has a higher likelihood of defaulting on a loan.

    The prime rate serves as a basis, or point of reference, for determining most other interest rates lenders make available to borrowers, even though it might not be specifically listed as a component of the rate ultimately charged. Interest rates serve as compensation for the risk taken on by the lender based on the borrower’s credit history and other financial details, and provide a way to cover costs associated with lending.

    Prime Rates and Variable Interest Rates

    In cases of variable interest rates, such as those used on certain credit cards, the card’s interest rate may be expressed as the prime rate plus a set percentage. This means the rate rises and falls with the prime rate but always remains a fixed percentage above the prime rate at all times.

    Determining the Prime Rate

    The prime rate is not set by a particular legal entity, and the prime rate used by one institution may be different than the prime rate in use by another. While changes to the Federal Reserve’s prime rate are commonly noted by other U.S. institutions, and may be used to justify changes in the institution’s prime rate, it is not a requirement for the institution to raise its prime rate accordingly.

    Prime Rate and Best-Qualified Customers

    Generally, the prime rate is reserved for only the most qualified customers, determined as those who pose the least amount of risk of default. Prime rates may not be available to individual borrowers as often as to larger entities, such as particularly stable businesses.

    Even if the prime rate is set at a particular percentage, such as 5%, that does not mean a lender cannot offer rates below that amount to well-qualified customers. The prime rate is considered a benchmark only, and though it is likely to be the lowest announced rate available, it should not be considered a mandatory minimum.


    Home Loan Rates – find the latest interest rates here #private #mortgage


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    Last updated: 16 September 2016 10:00am

    This table is updated regularly and is intended as a brief guide to residential loans on owner-occupied properties in New Zealand. Users are advised to confirm the rates and conditions that will apply in your particular situation directly with the lender.

    Terms explained

    Floating rate: also known as the variable rate. This fluctuates according to market conditions.
    Fixed rate: this rate applies for the length of the loan, which is fixed for a set period. We have given a sample of fixed rate periods only: many lenders offer fixed rate loans for as little as six months, while some go out to seven years.
    LVR: this stands for the loan to value ratio and is the maximum percentage of a property’s value that the institution will lend to. Check with the lender for any special conditions. Many, for example, may require you take out mortgage insurance if the LVR is over a certain level, or there may be other restrictions such as lending for apartments, which can be to a much lower LVR.
    Front-end fees: these are also known as establishment, application or loan approval fees. They are are one-off charges by the lender for setting up the loan.
    Capped rate: the maximum rate that will apply to a loan during its capped period. If the floating rate drops below the capped rate applicable then the lower floating rate will apply instead. There is no penalty for paying off lump sums, totally repaying the loan or for increasing your payments.

    Disclaimer

    Every possible effort has been made to keep the information in this table as accurate as possible, however, neither the publishers of Good Returns nor anyone engaged to compile this table accept any liability for inaccuracies or any loss suffered as a result. It is strongly advised that readers check loan details with providers.


    Mortgage Amortization period #home #loan #interest #rates


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    Mortgage Term vs. Amortization

    The mortgage payments under scenario B are smaller each month, but the home owner will make monthly payments for 5 additional years. The total interest saved by going with a shorter amortization period exceeds $100,000.

    For the savvy investor, these savings should be compared to the opportunity cost of other investments. Using the example above, the monthly savings of $142 under scenario B, could be invested elsewhere, and, depending on the rate of return, could come out ahead after 35 years.

    Prepayment privileges set out by your lender will determine whether you can shorten your amortization period, by either increasing your regular monthly payments and/or putting lump sum payments towards the principal, without penalty. However, beyond these privileges, you will often incur costly penalties for making additional payments. According to the Canadian Association of Mortgage Professionals, 24% of Canadians took advantage of prepayment options in 2009.

    Popularity of mortgage term and amortization periods

    A 5-year mortgage term, at 66% of all mortgages, is by far the most common duration. A further breakdown shows that an additional 8% of mortgages have terms exceeding five years, while 26% of mortgages have shorter terms, including 6% with one year or less and 20% with terms from one year to less than four years.

    Type of purchase 2 .

    The most common mortgage amortization period, on the other hand, is 25 years. However, 42% of new mortgages had amortization periods exceeding 25 years. This is an interesting observation considering amortization periods were only extended to 35 years in 2006.1 As of July 9th 2012, the maximum amortization period on all CMHC insured homes will be reduced from 30 to 25 years.

    References and Notes

    1. Source: Canadian Association of Accredited Mortgage Professionals (CAAMP) Fall 2010 Consumer Report
    2. Source: Canadian Association of Accredited Mortgage Professionals (CAAMP) Fall 2010 Consumer Report

    500,000
    Canadians a month

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