The Home Affordable Refinance Program (HARP) loan enables many homeowners in Columbia County to refinance their under water homes where it was previously unachievable. If you are among the numerous who qualify for the newest HARP home refinance program, FiveStarsMortgage.com can assist you to easily 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 Qualifications, Eligibility Criteria, and Enhancements
The Making Home Affordable Program, first created and launched in late 2009, lets many homeowners who had been previously struggling to get refinancing for their mortgage loan. As a consequence of general decreases in the economy and property value decline, homeowners were bogged down having to pay more than they could afford on their homes. Among the most significant benefits of the program was the roll-out of the Home Affordable Refinance Program, or HARP. Because of this new mortgage refinancing approach, approved home owners of Fort White with HARP Refinancing can usually get a lower payment on their mortgage loan and help save lots of money over the long haul.
The HARP process is for property owners with Freddie Mac or Fannie Mae backed home mortgages having a loan-to-value (LTV) ratio in excess of 80% on the mortgage loan. Because home mortgages with an LTV of over 80% are often not able to qualify for typical loan refinancing options, the HARP program was essential to enable as many people as possible to begin saving money on their payments. As borrowers demands have changed since the program began, the HARP program has additionally been subject to some modifications to permit extra flexibility for approval. Right now, the HARP program offered is labeled HARP 2.0 and offers more flexible qualification prerequisites. Here is a summary of the history and progression of the HARP refinance program:
HARP 1 (Original HARP Refinance)
The HARP 2.0 home refinance loan program provides substantial assistance for Fort White, FL home owners that did not refinance their home in the past because of falling house values. The latest version of the Home Affordable Refinance Program (HARP 2.0) has now been released. This new version of HARP allows unrestricted loan to value, which is the most prominent adjustment. What this means is no more limitations on how much a homeowner owes on their home vs. how much their property is currently worth! Florida homeowners upside down or underwater with their home loan can have some assistance. On top of that, there are also a lot less restricted credit guidelines installed. Many of the other government relief loan refinancing programs in the last several years have fallen short of actually supporting homeowners to refinance their home loan to a lower interest rate. The present rendition of the HARP mortgage program (2.0) provides the relief many Fort White home owners have needed for too long. Regardless of who your current loan servicing company is (Citi, Chase, Wells Fargo, Bank of America, etc) we are able to help as long as your mortgage loan is presently 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 derive from what is increasingly being spoken about but it is not known what the eventual program will give you or if it will even pass. The federal government has assumed that it would probably help over 30 million borrowers and save home-owners an average of $250 a month on their monthly payments, that may add up to $35-70 billion in savings yearly.
HARP 3.0 My Refi (Proposed Potential Program)
HARP refinance loan application form requests are being handled now. You can click here to get started and to check your HARP mortgage eligibility. The short application only takes a few minutes and no personal data ever required. You can also call 800-871-2636 7 days a week.
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