The Home Affordable Refinance Program (HARP) loan makes it possible for a great number of home owners in Volusia County to refinance their underwater homes where it was previously impossible. If you are one of the several who qualify for the latest HARP home refinance program, FiveStarsMortgage.com can help you to easily be of assistance to you in your loan. Call 800-871-2636 or fill out this HARP Information Request to get going toward a lower interest rate immediately.
HARP Refinance Qualifications, Plan Guidelines, and Information
The Making Home Affordable Program, first created and started in 2009, allows for a great number of home owners who were previously unable to get refinancing for their mortgage. As a result of complete declines throughout the market and property value decline, home owners were trapped paying more than they can afford on their homes. Among the chief benefits of the program was the development of the Home Affordable Refinance Program, or HARP. With this new refinancing approach, eligible home owners of Deleon Springs, FL with HARP Refinancing could get a lower payment on their home loan and help save thousands of dollars over time.
The HARP approach is for property owners with Freddie Mac or Fannie Mae backed home loans who have a loan-to-value (LTV) ratio of over 80% on their mortgage. Because mortgage loans that have an LTV more than 80% are often not able to qualify for standard loan refinancing options, the HARP program was important to allow as many people as possible to start spending less on their mortgage payments. As borrowers needs have changed since the program was implemented, the HARP program has additionally undergone a number of changes to permit added flexibility for approval. At this time, the HARP program available is called HARP 2.0 and provides more flexible qualification requirements. This is the summary of the background and progression of the HARP loan refinancing program:
HARP 1 (Original HARP Refinance mortgage loan)
The HARP 2.0 home refinance loan program provides considerable relief for Deleon Springs, FL home owners that were not able to refinance in the past attributable to shrinking house values. The modern 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 significant alteration. This indicates no more limits on how much money a homeowner currently owes on their mortgage vs. how much money their house is currently worth. Florida home-owners upside-down or under water with their mortgage loan will now get some assistance. In addition to this, there are fewer restrictive credit guidelines in place. Most of the so called government backed refinance programs in the last several years have fallen short of actually supporting home owners to refinance their home loan to a lower rate of interest. The modern edition of the HARP mortgage program (2.0) offers the relief many Deleon Springs homeowners have deparately needed for so long. It does not matter who your loan provider is (Citi, Chase, Wells Fargo, Bank of America, etc) we can help you providing your mortgage is at present Fannie Mae or Freddie Mac backed.
HARP 3 is still a hypothetical scenario and all of the information provided is speculation. The details of the program derive from what is currently being outlined but it is not known what the finalized program will give you or if it will even have the chance of passing. The government has assumed that it would likely help over 20 million borrowers and save home-owners an average of $300 per month on payments, that could add up to $35-70 billion in reductions each year.
HARP 3.0 My Refi (Projected Possible Future Program)
HARP refinance loan application requests are being processed now. You can click here to get started and to check your HARP loan eligibility. The fast application only takes one minute with zero personal data ever required. You can also call 800-871-2636 7 days a week.
Are you a homeowner that does not presently have a conventional mortgage loan?