The Home Affordable Refinance Program (HARP) loan allows countless home owners in Indian River County to refinance their underwater homes when it was previously unachievable. If you are among the many who qualify for the newest HARP refinance program, FiveStarsMortgage.com can assist you to easily help you in your mortgage. Call 800-871-2636 or fill out this HARP Information Request to get going toward a lower interest rate immediately.
HARP Refinance Qualifications, Plan Requirements, and Information
The Making Home Affordable Program, first created and launched in late 2009, helps a great number of homeowners who were previously struggling to refinance their home loan. Attributed to common declines throughout the market and property value decline, homeowners were bogged down spending more than they can afford on homes. Amongst the primary benefits of the program was the introduction of the Home Affordable Refinance Program, or HARP. With this new refinancing approach, eligible homeowners of Fellenfere, FL with HARP Refinancing could get a more affordable payment for their home and save yourself a lot of money over time.
The HARP approach is for property owners with Freddie Mac or Fannie Mae backed home loans which have a loan-to-value (LTV) ratio of greater than 80% on their mortgage. Because mortgages that have an LTV more than 80% are often not able to qualify for traditional mortgage refinancing options, the HARP program was necessary to enable as many people as possible to start saving money on their monthly payments. As credit seekers needs have changed since the program began, the HARP program has additionally undergone quite a few modifications to permit far more flexibility for acceptance. Right now, the HARP program provided is known as HARP 2.0 and offers more flexible qualification requirements. This is a review of the historical past and continuing growth of the HARP refinance loan program:
HARP 1 (Original HARP Refinance)
The HARP 2.0 home refinance loan program is providing critical assistance for Fellenfere home owners that could not refinance their home in the past stemming from decreasing home values. The newest version of the Home Affordable Refinance Program (HARP 2.0) has now been released. This new edition of HARP allows unrestricted LTV, which is the most important adjustment. Therefore no more restrictions on how much money a home owner currently owes on their mortgage verses how much money their property is currently worth! Fellenfere homeowners upside-down or under water with their mortgage loan can have some assistance. On top of that, there are less restricted credit regulations in place. Many of the so called government loan refinancing programs in the last several years have fallen short of honestly assisting home-owners to refinance their home mortgage to a lower interest rate. The current version of the HARP mortgage program (2.0) provides the help many Fellenfere home owners have needed for too long. Whatever who your loan provider is (Citi, Chase, Wells Fargo, Bank of America, etc) we can assist so long as your mortgage loan is at present Fannie Mae or Freddie Mac backed.
HARP 3.0 is still a hypothetical scenario and all of the information discussed is simply speculation. The main points of the program are based on what is currently being outlined but it is not known what the finalized program will provide or if it will even pass. The government has assumed that it would likely help over 30 million borrowers and save home-owners an average of $250 a month on the monthly mortgage payments, that would total $35-70 billion in reductions each year.
HARP 3 My Refi (Recommended Future Program)
HARP refinance home loan application requests are being accepted now. You can click here to get started and to check your HARP loan eligibility. The short application only takes a moment without any personal information ever required. You can also call 800-871-2636 7 days a week.
Are you a home-owner that does not presently have a traditional mortgage loan?