The Home Affordable Refinance Program (HARP) loan helps many homeowners in Seminole County to re-finance their underwater homes when it was previously unattainable. If you are among the many who qualify for the new HARP loan refinancing program, FiveStarsMortgage.com can assist you to easily help out with your mortgage loan. Call 800-871-2636 or fill out this HARP Information Request to get started toward a lower interest rate immediately.
HARP Refinance Qualifications, Plan Criteria, and Information
The Making Home Affordable Program, first created and launched in 2009, allows for a large number of home owners who were previously unable to get refinancing for their mortgage. Through complete declines throughout the market and home value decline, home owners were stuck spending money on more than they can afford on their homes. One of the most significant benefits of the program was the roll-out of the Home Affordable Refinance Program, or HARP. Utilizing this type of new mortgage refinancing process, approved homeowners of Casselberry with HARP Refinancing could possibly get a lesser payment for their mortgage and save yourself a lot of money in the long term.
The HARP program is for property owners with Freddie Mac or Fannie Mae backed home loans that have a loan-to-value (LTV) ratio of more than 80% on their mortgage. Because home loans that have an LTV of more than 80% are often not able to qualify for traditional loan refinancing options, the HARP program was necessary to allow for as many people as possible to begin saving money on their monthly mortgage payments. As credit seekers needs have changed since the program began, the HARP program has also been through some improvements permitting a bit more flexibility for acceptance. Presently, the HARP program provided is referred to as HARP 2.0 and offers more flexible qualification specifications. This is the summary of the historical past and continuing growth of the HARP loan refinancing program:
HARP 1 (Original HARP Refinance)
The HARP 2.0 mortgage refinance loan program is providing considerable relief for Casselberry home owners that could not refinance in the past resulting from diminishing house values. The newest 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 critical adjustment. What this means is no more restrictions on how much a home owner currently owes on their mortgage loan vs. how much their house is currently worth! Casselberry, FL home owners upside-down or under water in their mortgage will have some relief. The best part is, there are a lot less restricted credit guidelines in place. Many of the so called government relief refinance loan programs in the past have fallen short of truly supporting home-owners to refinance their home loan to a lower rate of interest. The latest variation of the HARP mortgage program (2.0) offers the relief many Casselberry, FL property owners have needed for way too long. Despite who your loan provider is (Wells Fargo, Bank of America, Chase, Citi, etc) we can assist providing your mortgage 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 spoken about but it is not known what the eventual program will offer or if it will even pass through Government red tape. The federal government has assumed that it would probably help over 20 million borrowers and save families an average of $350 a month on the monthly payments, which might add up to $35-70 billion in savings yearly.
HARP 3.0 MYREFI (Proposed Potential Future Program)
HARP refinance mortgage application requests are being accepted now. You can click here to get started and to check your HARP mortgage loan eligibility. The quick application form only takes a few minutes and no personal data 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?