The Home Affordable Refinance Program (HARP) loan would allow a large number of homeowners in Polk County to re-finance their under water homes where it was previously out of the question. If you are one of the several who are qualified for the newest HARP refinancing program, FiveStarsMortgage.com can assist you to easily help you 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 Qualifications, Eligibility Prerequisites, and Enhancements
The Making Home Affordable Program, first created and launched in 2009, allows for a great number of homeowners who had been previously helpless to refinance their home loan. Mainly because of complete decreases throughout the market and home value decline, home owners were cornered spending money on more than they could afford on their homes. One of the largest benefits of the program was the roll-out of the Home Affordable Refinance Program, or HARP. Utilizing this new refinancing approach, qualified residents of Dundee, FL with HARP Refinancing can usually get a smaller payment for their mortgage and help you save a lot of money in the long run.
The HARP approach is for home owners with Freddie Mac or Fannie Mae backed home loans having a loan-to-value (LTV) ratio of more than 80% on the mortgage loan. Because mortgage loans with an LTV more than 80% are often unable to qualify for conventional mortgage refinancing options, the HARP program was necessary to enable as many people as possible to start lowering costs on their monthly mortgage payments. As borrowers expectations have changed since the program began, the HARP program has also been subject to quite a few adjustments to permit far more flexibility for acceptance. Right now, the HARP program offered is often called HARP 2.0 and gives more flexible qualification standards. This is a breakdown of the historical past and progression of the HARP loan refinancing program:
HARP 1 (Original HARP Refinance mortgage loan)
The HARP 2.0 home refinance loan program offers sizeable assistance for Dundee home owners that could not refinance in the past resulting from reducing home values. The modern version of the Home Affordable Refinance Program (HARP 2.0) has now been released. This new version of HARP allows unrestricted LTV, which is the most significant adjustment. Therefore no more limitations on how much money a homeowner owes on their mortgage verses how much money their property is currently worth. Dundee, FL homeowners upside down or under water with their mortgage loan will have some assistance. The best part is, there are less restrictive credit regulations installed. Many of the other government backed home refinance programs in the last several years have fallen short of truly aiding homeowners to refinance their home mortgage to a lower interest rate. The latest variation of the HARP mortgage program (2.0) provides the help many Dundee, FL home owners have needed for so long. No matter what who your existing loan servicer is (Citi, Chase, Wells Fargo, Bank of America, etc) we can assist so long as your home mortgage is currently Fannie Mae or Freddie Mac backed.
HARP 3 is still a hypothetical scenario and all of the information specified is simply hypothesis. The facts of the program are based upon what is increasingly being outlined but it is unknown what the final program offers or if it will even have the chance of passing. The government has assumed that it would likely help over 20 million borrowers and save home-owners an average of $400 per month on their payments, which could total $35-70 billion in financial benefits each year.
HARP 3.0 MYREFI (Projected Potential Program)
HARP refinance home loan application requests are being processed now. You can click here to get started and to check your HARP mortgage eligibility. The quick application only takes a minute without any personal info ever 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?