The Home Affordable Refinance Program (HARP) loan makes it possible for a large number of homeowners in Levy County to re-finance their under water homes where it was previously unachievable. If you are among the numerous who are qualified for the latest HARP refinance program, FiveStarsMortgage.com will help you to efficiently assist in 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 Historical Background, Eligibility Criteria, and Features
The Making Home Affordable Program, first created and launched in 2009, enables a large number of home owners who had been previously struggling to refinance their mortgage. Because of all round decreases in the economy and home values, homeowners were having trouble having to pay more than they could afford on homes. One of the largest benefits of the program was the introduction of the Home Affordable Refinance Program, or HARP. Because of this new loan refinancing process, approved home owners of Chiefland with HARP Refinancing could get a decreased payment on their home loan and help you save a lot of money over time.
The HARP approach is for property owners with Freddie Mac or Fannie Mae backed mortgages that have a loan-to-value (LTV) ratio of greater than 80% on their home loan. Because home mortgages with an LTV more than 80% are often not able to qualify for typical loan refinancing options, the HARP program was important to let as many people as possible to start saving money on their mortgage payments. As credit seekers demands have changed since the program began, the HARP program has also undergone quite a few improvements to permit increased flexibility for approval. Presently, the HARP program offered is labeled HARP 2.0 and gives more flexible qualification prerequisites. Here is a summary of the history and expansion of the HARP refinance loan program:
HARP 1 (Original HARP Home refinance)
The HARP 2.0 home refinance loan process gives considerable assistance for Chiefland home owners that did not refinance their home in the past stemming from diminishing house values. The modern 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 prominent alteration. It indicates no more limitations on how much money a home owner owes on their home verses how much money their house is currently worth. Florida home-owners upside down or under water with their mortgage loan can get some relief. In addition to this, there are also fewer restrictive credit regulations in place. Many of the so called government relief home refinance programs in the last several years have fallen short of honestly aiding home-owners to refinance their home loan to a lower interest rate. The modern version of the HARP mortgage program (2.0) provides the help many Chiefland, FL home-owners have needed for way too long. Regardless of who your loan servicer is (Wells Fargo, Bank of America, Chase, Citi, etc) we can provide assistance providing your home mortgage is at present Fannie Mae or Freddie Mac backed.
HARP 3.0 is still a hypothetical scenario and all of the information provided is speculation. The facts of the program derive from what is increasingly being discussed but it is unknown what the finalized program can provide or if it will even have the chance of passing. The government has assumed that it would probably help over 30 million borrowers and save home-owners an average of $250 per month on their monthly payments, which could add up to $35-70 billion in cost savings each year.
HARP 3 MYREFI (Projected Potential Program)
HARP refinance loan application requests are being handled now. You can click here to get started and to check your HARP loan eligibility. The quick 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?