The Home Affordable Refinance Program (HARP) loan makes it possible for many home owners in Putnam County to refinance their under water homes where it was previously out of the question. If you are one of the several who are qualified for the new HARP home refinance program, FiveStarsMortgage.com will help you to easily help out in your loan. Call 800-871-2636 or fill out this HARP Information Request to get started toward a lower interest rate immediately.
HARP Refinance Qualifications, Plan Criteria, and Features
The Making Home Affordable Program, which was created and initiated in late 2009, enables many home owners who had been previously helpless to get refinancing for their mortgage. By reason of common decreases in the economy and property values, home owners were trapped paying more than they can afford on homes. Among the best benefits of the program was the creation of the Home Affordable Refinance Program, or HARP. Utilizing this type of new mortgage refinancing process, qualified residents of Crescent City with HARP Refinancing can get a reduced payment for their mortgage and save lots of money in the long term.
The HARP approach is for homeowners with Freddie Mac or Fannie Mae backed mortgage loans which have a loan-to-value (LTV) ratio of more than 80% on the mortgage. Because mortgages that have an LTV of more than 80% are often not in a position to qualify for conventional loan refinancing options, the HARP program was important to enable as many people as possible to start spending less on their payments. As credit seekers expectations have changed since the program was implemented, the HARP program has additionally been through quite a few modifications permitting significantly more flexibility for approval. Presently, the HARP program provided is known as HARP 2.0 and provides more flexible qualification guidelines. This is the review of the history and development of the HARP refinance program:
HARP 1 (Original HARP Refinance loan)
The HARP 2.0 home refinance loan process offers significant assistance for Crescent City, FL home owners that were not able to refinance their home in the past because of shrinking home values. The latest version of the Home Affordable Refinance Program (HARP 2.0) has now been released. This new version of HARP allows unlimited LTV, which is the most prominent adjustment. This indicates no more limitations on how much money a home owner owes on their home verses how much money their property is currently worth! Florida homeowners upside-down or under water in their mortgage loan will now have some assistance. On top of that, there are also less restrictive credit guidelines implemented. Most of the other government relief refinance loan programs in the past have fallen short of truly supporting homeowners to refinance their mortgage loan to a lower interest rate. The present rendition of the HARP mortgage program (2.0) offers the help many Crescent City, FL home owners have needed for too long. It does not matter who your existing loan provider is (Bank of America, Wells Fargo, Chase, Citi, etc) we can help so long as your mortgage is currently Fannie Mae or Freddie Mac backed.
HARP 3.0 is still a hypothetical scenario and all of the information discussed is simply speculation. The facts of the program derive from what is currently being reviewed but it is unknown what the finalized program offers or if it will even have the chance of passing. The government has assumed that it would most likely help over 20 million borrowers and save home-owners an average of $200 per month on their payments, that can add up to $35-70 billion in reductions annually.
HARP 3 My Refi (Proposed Possible Future Program)
HARP refinance home loan application form requests are being handled now. You can click here to get started and to check your HARP mortgage eligibility. The quick application only takes a moment with zero personal information ever 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?