Phfa Form 67 PDF Details

Managing mortgage payments efficiently is crucial for homeowners aiming for financial stability. The Pennsylvania Housing Finance Agency (PHFA) underscores this point with its PHFA Form 67, released in June 2007. This comprehensive form facilitates the setup of automatic withdrawals (ACH transactions) for mortgage payments, ensuring that homeowners can make timely payments without manual intervention each month. Homeowners are offered the flexibility to choose a specific day each month, between the first and the sixteenth, for the automatic withdrawal. This option is particularly handy as it accommodates various payday schedules. Should the chosen date fall on a weekend or holiday, the transaction is processed on the next business day. Crucially, this service is offered at no additional charge, highlighting PHFA's commitment to accessibility and affordability. The form also details the prerequisites for a successful transaction, such as the need for sufficient funds in the account and the option to include additional payments towards the principal. An annual Escrow Analysis is provided to adjust the withdrawal amount if necessary, keeping homeowners informed about their financial responsibilities. The instructions section of the form simplifies the setup process, instructing homeowners on how to designate their account for ACH withdrawals and how to communicate any future changes. Complete with a section for authorization agreement, PHFA Form 67 illustrates a thoughtfully designed tool aimed at streamlining mortgage payments and enhancing the homeownership experience.

QuestionAnswer
Form NamePhfa Form 67
Form Length2 pages
Fillable?No
Fillable fields0
Avg. time to fill out30 sec
Other names67 po box 15057 harrisburg pa 17105 form

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June 2007

PHFA Form 67

PENNSYLVANIA HOUSING FINANCE AGENCY

211 North Front Street

P.O. Box 15057

Harrisburg, PA 17105-5057

Fax (717) 780-3853

1-800-346-3597

AUTOMATIC WITHDRAWAL

INSTRUCTIONS/INFORMATION

A NOTE TO THE BORROWER(S): PLEASE KEEP THIS INSTRUCTION/INFORMATION SHEET TO REFERENCE IN CASE OF ANY FUTURE CHANGES TO YOUR AUTOMATIC WITHDRAWAL.

Information

1.The draw will be done on the calendar day of your choosing between the first and the sixteenth of the month. In the event that the calendar day you choose falls on a weekend or holiday, the withdrawal will be completed on the next day that the Pennsylvania Housing Finance Agency (PHFA) is open for business.

2.Mail your first monthly payment to PHFA using the temporary coupon, which is on page 2 of the Hello/Good Bye Form 28, that was given to you at closing. Or submit your payment with the monthly billing statement that you will receive from PHFA. A letter will be sent advising when the automatic withdrawal will start. This automatic withdrawal is also referred to as an ACH transaction.

3.The Automatic Withdrawal service is FREE.

4.There must be sufficient funds in your account each month for the draw. Otherwise, you will be subject to a late charge and a $25.00 Non-Sufficient Funds charge. We recommend that you check with your financial institution regarding overdraft protection to avoid overdraft charges.

5.Additional monthly principal payments can be included with your automatic withdrawal, or you may send a check any time, at your convenience to the Harrisburg address. Indicate “Principal Payment” on your check.

6.Once a year you will receive an Escrow Analysis. If your payment changes, it will affect your draw.

Instructions To Complete ACH Form

1.If your ACH is coming from your checking account, circle “Checking” on the ACH Form, and include a voided check.

2.If your ACH is coming from your savings account, circle “Savings” on the ACH Form, and have your financial institution provide a letter on their letterhead listing their ABA/Routing Number and the Account Number.

3.CHANGES can be made by FAXING to 717-780-3853 or WRITING to PHFA at the above address.

4.If you have any questions in the future, please call our Customer Service Number at 1-800-346-3597.

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June 2007

PHFA Form 67

PENNSYLVANIA HOUSING FINANCE AGENCY

211 North Front Street

P.O. Box 15057

Harrisburg, PA 17105-5057

Fax (717) 780-3853

1-800-346-3597

AUTHORIZATION AGREEMENT FOR AUTOMATIC WITHDRAWAL PAYMENTS

Name:

Address:

City/State:____________________________________________ Zip Code:

PHFA Mortgage Acct Number:

Home Phone:__________________________ Work Phone:

E-Mail Address:

I hereby authorize Pennsylvania Housing Finance Agency to initiate automatic withdrawals referred to as ACH entries from my checking/savings account through the financial institution listed below.

Financial Institution Name:

Financial Institution Telephone #

Financial Institution ABA/Routing Number

Checking OR Savings Account Number:

Circle the type of account to be drafted.

•If Checking is indicated attach a voided check from your checking account.

•If Savings is indicated, submit a letter on the financial institution’s letterhead with the savings account number and the ABA/routing numbers.

Draft Day, Choose Draft Date You Prefer, (first through the sixteenth of the month): 1st thru 16th _______

Monthly Mortgage Payment $________________________ (Estimated at time of closing)

Additional Principal Payment $________________________ (Optional)

Total ACH Amount

$________________________

This authority is to remain in full force and effect until the above listed financial institution has received written notification from the undersigned of changes in such time and to afford the above listed financial institution a reasonable opportunity to act on it.

Signature:Date:

A REPRESENTATIVE OF THE ORIGINATING LENDER MUST FAX THIS FORM AND OTHER REQUIRED DOCUMENTATION ALONG WITH THE PRELIMINARY LOAN SET UP SHEET (FORM 26) TO (717) 780-3853.

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How to Edit Phfa Form 67 Online for Free

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With regards to the blanks of this particular document, here is what you should consider:

1. Firstly, when filling out the Phfa Form 67, begin with the area that features the subsequent blank fields:

Step no. 1 for filling in Phfa Form 67

2. Once the first part is done, proceed to type in the relevant details in all these: Circle the type of account to be, Draft Day Choose Draft Date You, Monthly Mortgage Payment, Total ACH Amount, Additional Principal Payment, This authority is to remain in, Signature, A REPRESENTATIVE OF THE, Date, and Page of.

Guidelines on how to fill in Phfa Form 67 portion 2

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