The Home Affordable Refinance Program (HARP) loan makes it possible for many home owners in Lake County to re-finance their under water homes when it was previously unattainable. If you are one of the numerous who qualify for the newest HARP loan refinancing program, FiveStarsMortgage.com will help you to swiftly assist with the mortgage. Call 800-871-2636 or fill out this HARP Information Request to get going toward a lower interest rate immediately.
HARP Refinance History, Eligibility Prerequisites, and Features
The Making Home Affordable Program, first created and started in late 2009, enables a great number of home owners who had been previously unable to get refinancing for their mortgage. Because of all round decreases throughout the market and property value decline, homeowners were having trouble paying more than they could afford on homes. One of the main benefits of the program was the development of the Home Affordable Refinance Program, or HARP. Because of this new refinancing program, eligible home owners of Eustis, FL with HARP Refinancing can get a cheaper payment on their home and help you save lots of money over the years.
The HARP process is for home owners with Freddie Mac or Fannie Mae backed home loans that have a loan-to-value (LTV) ratio in excess of 80% on the home loan. Because home loans that have an LTV of over 80% are often not in a position to qualify for standard loan refinancing options, the HARP program was needed to allow for as many people as possible to begin saving money on their payments. As borrowers demands have changed since the program was implemented, the HARP program has also been subject to some changes to permit far more flexibility for approval. At present, the HARP program provided is identified as HARP 2.0 and provides more flexible qualification requirements. Here is a summary of the historical past and expansion of the HARP refinance program:
HARP 1 (Original HARP Refinance mortgage loan)
The HARP 2.0 mortgage refinance loan program can give considerable relief for Eustis home owners that could not refinance their home in the past attributable to decreasing home values. The newest 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 important change. This simply means no more limitations on how much money a home owner currently owes on their mortgage loan vs. how much money their property is currently worth! Eustis, FL home-owners upside down or under water with their home loan will get some relief. The best part is, there are also a lot less restricted credit regulations installed. Most of the other government relief home refinance programs in the last several years have fallen short of honestly supporting home owners to refinance their home mortgage to a lower interest rate. The present rendition of the HARP mortgage program (2.0) provides the relief many Eustis property owners have deparately needed for so long. It does not matter who your current loan servicer is (Wells Fargo, Bank of America, Chase, Citi, etc) we are able to help so long as your mortgage loan is at present Fannie Mae or Freddie Mac backed.
HARP 3.0 is still a hypothetical scenario and all of the information discussed is simply speculation. The details of the program derive from what is increasingly being outlined but it is unknown what the finalized program offers or if it will even pass through Government red tape. The government has assumed that it would probably help over 20 million borrowers and save families an average of $400 a month on the monthly mortgage payments, which could add up to $35-70 billion in savings annually.
HARP 3.0 MYREFI (Recommended Future 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 quick application only takes one minute with zero personal info required. You can also call 800-871-2636 7 days a week.
Are you a home-owner that does not presently have a conventional mortgage loan?