The Home Affordable Refinance Program (HARP) loan makes it possible for many home-owners in Broward County to re-finance their under water homes when it was previously unachievable. If you are one of the several who are qualified for the newest HARP loan refinancing program, FiveStarsMortgage.com will help you to efficiently be of assistance to you with the loan. Call 800-871-2636 or fill out this HARP Information Request to get started toward a lower interest rate immediately.
HARP Refinance History, Eligibility Guidelines, and Features
The Making Home Affordable Program, first created and started in late 2009, helps a great number of home owners who had been previously struggling to get refinancing for their mortgage loan. Because of basic decreases throughout the market and property values, home owners were having trouble spending money on more than they can afford on homes. One of the most significant benefits of the program was the development of the Home Affordable Refinance Program, or HARP. Utilizing this new mortgage refinancing process, approved home owners of Lauderhill, FL with HARP Refinancing may get a lesser payment on their mortgage and save yourself lots of money over the long haul.
The HARP process is for homeowners with Freddie Mac or Fannie Mae backed mortgages who have a loan-to-value (LTV) ratio of more than 80% on the mortgage loan. Because mortgages with an LTV of over 80% are often not in a position to qualify for common loan refinancing options, the HARP program was necessary to enable as many people as possible to start spending less on their payments. As borrowers expectations have changed since the program began, the HARP program has also gone through some improvements to allow for greater flexibility for approval. Right now, the HARP program made available is called HARP 2.0 and offers more flexible qualification standards. Below is a review of the history and continuing growth of the HARP loan refinancing program:
HARP 1 (Original HARP Refinance)
The HARP 2.0 mortgage refinance loan program gives serious assistance for Lauderhill, FL home owners that did not refinance their home in the past resulting from shrinking house values. The modern version of the Home Affordable Refinance Program (HARP 2.0) has now been released. This new version of HARP allows unlimited LTV, which is the most important adjustment. This means no more restrictions on how much money a home owner currently owes on their mortgage loan vs. how much money their house is currently worth. Florida home owners upside-down or underwater on their mortgage can have some help. In addition, there are less restricted credit regulations implemented. Most of the so called government refinance loan programs in the last several years have fallen short of truly assisting home-owners to refinance their home loan to a lower rate of interest. The present rendition of the HARP mortgage program (2.0) provides the help many Lauderhill, FL home owners have needed for such a long time. It does not matter who your existing loan provider is (Wells Fargo, Bank of America, Chase, Citi, etc) we can assist on condition that your home mortgage is presently Fannie Mae or Freddie Mac backed.
HARP 3 is still a hypothetical scenario and all of the information provided is speculation. The facts of the program derive from what is increasingly being reviewed but it is not known what the ultimate program will provide or if it will even pass. The government has assumed that it would likely help over 20 million borrowers and save home-owners an average of $250 per month on monthly payments, which could add to $35-70 billion in savings each and every year.
HARP 3 My Refi (Projected Potential Future Program)
HARP refinance home loan application form requests are being accepted now. You can click here to get started and to check your HARP mortgage eligibility. The fast application form only takes a 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 traditional mortgage?