The Home Affordable Refinance Program (HARP) loan will allow many homeowners in Marion County to re-finance their under water homes where it was previously unattainable. If you are one of the many who qualify for the latest HARP loan refinancing program, FiveStarsMortgage.com can help you to swiftly assist in your mortgage. Call 800-871-2636 or fill out this HARP Information Request to get started toward a lower interest rate immediately.
HARP Refinance Qualifications, Plan Guidelines, and Updates
The Making Home Affordable Program, first created and launched in late 2009, lets many homeowners who were previously helpless to get refinancing for their mortgage loan. Because of the total decreases throughout the market and home values, home owners were stuck spending money on more than they can afford on homes. One of the largest benefits of the program was the development of the Home Affordable Refinance Program, or HARP. Utilizing this type of new loan refinancing program, eligible homeowners of Candler with HARP Refinancing can usually get a cheaper payment for their home and save yourself thousands of dollars in the long run.
The HARP approach is for home-owners with Freddie Mac or Fannie Mae backed mortgage loans having a loan-to-value (LTV) ratio of more than 80% on their mortgage loan. Because home loans with an LTV of more than 80% are often unable to qualify for typical loan refinancing options, the HARP program was needed to permit as many people as possible to begin saving money on their monthly payments. As borrowers demands have changed since the program began, the HARP program has additionally been through a number of modifications to allow added flexibility for acceptance. At this time, the HARP program available is named HARP 2.0 and gives more flexible qualification requirements. This is a summary of the background and progression of the HARP loan refinancing program:
HARP 1 (Original HARP Refinance mortgage loan)
The HARP 2.0 mortgage refinance loan process gives critical relief for Candler, FL home owners that were not able to refinance their home in the past due to declining house values. The new version of the Home Affordable Refinance Program (HARP 2.0) has now been released. This new version of HARP allows unlimited loan to value, which is the most significant modification. This means no more limits on how much a homeowner owes on their home loan vs. how much money their house is currently worth! Florida homeowners upside-down or under water on their home loan can get some help. In addition, there are also a lot less restrictive credit guidelines implemented. Many of the other government refinance programs in the last several years have fallen short of honestly aiding homeowners to refinance their home mortgage to a lower rate of interest. The latest version of the HARP mortgage program (2.0) provides the help many Candler, FL property owners have deparately needed for way too long. Regardless of who your actual loan servicer is (Bank of America, Wells Fargo, Chase, Citi, etc) we can help you on condition that your mortgage loan is currently Fannie Mae or Freddie Mac backed.
HARP 3.0 is still a hypothetical scenario and all of the information specified is simply hypothesis. The details of the program are based on what is currently being discussed but it is not known what the finalized program can provide or if it will even pass. The government has assumed that it would most likely help over 20 million borrowers and save home owners an average of $350 per month on the payments, that may add to $35-70 billion in reductions each and every year.
HARP 3 My Refi (Proposed Potential Future Program)
HARP refinance home loan application form requests are being processed now. You can click here to get started and to check your HARP loan eligibility. The short application form only takes one minute and no personal details 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?