The Home Affordable Refinance Program (HARP) loan allows many homeowners in Clay County to refinance their under water homes where it was previously unachievable. If you are one of many who are qualified for the newest HARP refinancing program, FiveStarsMortgage.com can help you to quickly help out 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 Guidelines, and Features
The Making Home Affordable Program, which was created and launched in 2009, enables a large number of homeowners who had been previously unable to get refinancing for their mortgage. Because of the complete declines throughout the market and home value decline, homeowners were having problems paying more than they can afford on their homes. One of the main benefits of the program was the introduction of the Home Affordable Refinance Program, or HARP. Utilizing this new refinancing program, approved residents of Green Cove Springs with HARP Refinancing may get a smaller payment for their mortgage loan and save yourself thousands of dollars over the years.
The HARP program is for property owners with Freddie Mac or Fannie Mae backed home mortgages which have a loan-to-value (LTV) ratio of greater than 80% on their mortgage loan. Because mortgage loans that have an LTV in excess of 80% are often unable to qualify for standard loan refinancing options, the HARP program was needed to enable as many people as possible to start saving money on their monthly payments. As borrowers expectations have changed since the program was implemented, the HARP program has additionally been subject to quite a few modifications to permit a lot more flexibility for acceptance. Presently, the HARP program available is referred to as HARP 2.0 and gives more flexible qualification requirements. This is a review of the historical past and development of the HARP refinancing program:
HARP 1 (Original HARP Refinance loan)
The HARP 2.0 home refinance loan program is providing major relief for Green Cove Springs, FL home owners that were not able to refinance their home in the past on account of shrinking house values. The newest 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 alteration. What this means is no more restrictions on how much a homeowner owes on their home verses how much money their house is currently worth. Green Cove Springs homeowners upside-down or underwater in their mortgage loan can get some assistance. Also, there are less restrictive credit regulations in place. Most of the other government loan refinancing programs in the past have fallen short of honestly supporting home owners to refinance their mortgage to a lower interest rate. The latest rendition of the HARP mortgage program (2.0) offers the relief many Green Cove Springs, FL property owners have deparately needed for such a long time. Regardless of who your existing loan provider is (Wells Fargo, Bank of America, Chase, Citi, etc) we are able to help on condition that your mortgage is currently Fannie Mae or Freddie Mac backed.
HARP 3.0 is still a hypothetical scenario and all of the information provided is speculation. The details of the program are derived from what is currently being outlined but it is unknown what the finished program will give you or if it will even have the chance of passing. The government has assumed that it would probably help over 20 million borrowers and save families an average of $200 per month on the monthly payments, that would total $35-70 billion in cost savings every year.
HARP 3 My Refi (Projected Potential 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 fast application form only takes one minute and no personal information ever required. You can also call 800-871-2636 7 days a week.
Are you a homeowner that does not currently have a conventional mortgage loan?