The Home Affordable Refinance Program (HARP) loan makes it possible for a large number of homeowners in Gilchrist County to re-finance their under water homes where it was previously unachievable. If you are one of the many who qualify for the latest HARP loan refinancing program, FiveStarsMortgage.com can help you to swiftly help you in your home loan. Call 800-871-2636 or fill out this HARP Information Request to get going toward a lower interest rate immediately.
HARP Refinance History, Eligibility Guidelines, and Enhancements
The Making Home Affordable Program, first created and initiated in late 2009, allows for many home owners who had been previously unable to refinance their mortgage loan. Resulting from all around declines throughout the market and property value decline, home owners were having difficulty spending more than they can afford on their homes. Amongst the main benefits of the program was the roll-out of the Home Affordable Refinance Program, or HARP. Utilizing this new mortgage refinancing approach, approved residents of Bell with HARP Refinancing could get a lesser payment for their mortgage loan and save yourself lots of money over the years.
The HARP system is for property owners with Freddie Mac or Fannie Mae backed mortgage loans who have a loan-to-value (LTV) ratio of greater than 80% on their home loan. Because home loans with an LTV of over 80% are often unable to qualify for conventional loan refinancing options, the HARP program was essential to let as many people as possible to start spending less on their monthly mortgage payments. As credit seekers expectations have changed since the program was implemented, the HARP program has additionally been through a number of adjustments permitting additional flexibility for approval. Presently, the HARP program offered is often called HARP 2.0 and gives more flexible qualification guidelines. This is a breakdown of the history and expansion of the HARP refinance loan program:
HARP 1 (Original HARP Home refinance)
The HARP 2.0 mortgage refinance loan program offers substantial assistance for Bell, FL home owners that could not refinance their home in the past as a consequence of reducing house values. The new version of the Home Affordable Refinance Program (HARP 2.0) has now been released. This new edition of HARP allows unlimited LTV, which is the most vital modification. Therefore no more limits on how much money a homeowner currently owes on their mortgage vs. how much their home is currently worth. Bell, FL homeowners upside down or under water with their mortgage can have some assistance. On top of that, there are also a reduced amount of restricted credit guidelines installed. Many of the so called government relief home refinance programs in the past have fallen short of truly aiding home owners to refinance their home mortgage to a lower interest rate. The current edition of the HARP mortgage program (2.0) offers the relief many Bell, FL home-owners have deparately needed for too long. No matter what who your existing loan servicing company is (Wells Fargo, Bank of America, Citi, Chase, etc) we can assist providing your mortgage loan is presently Fannie Mae or Freddie Mac backed.
HARP 3 is still a hypothetical scenario and all of the information specified is simply speculation. The important points of the program are derived from what is increasingly being reviewed but it is unknown what the final program can provide or if it will even pass through Government red tape. The federal government has assumed that it would probably help over 20 million borrowers and save homeowners an average of $200 a month on the monthly mortgage payments, which could add up to $35-70 billion in savings every year.
HARP 3.0 MYREFI (Suggested Potential Program)
HARP refinance loan application requests are being processed now. You can click here to get started and to check your HARP mortgage loan eligibility. The short application form only takes a minute without any personal information required. You can also call 800-871-2636 7 days a week.
Are you a home-owner that does not currently have a conventional mortgage loan?