The Home Affordable Refinance Program (HARP) loan allows a large number of homeowners in Broward County to re-finance their underwater homes where it was previously out of the question. If you are among the many who are qualified for the latest HARP refinance program, FiveStarsMortgage.com will help you to easily help out 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 History, Eligibility Criteria, and Information
The Making Home Affordable Program, first created and started in 2009, lets many home owners who were previously unable to get refinancing for their mortgage loan. On account of total declines in the economy and home values, home owners were bogged down spending more than they could afford on homes. One of the most significant benefits of the program was the creation of the Home Affordable Refinance Program, or HARP. With this new refinancing approach, approved home owners of Lazy Lake, FL with HARP Refinancing can usually get a cheaper payment on their mortgage loan and help you save thousands of dollars over the years.
The HARP program is for homeowners with Freddie Mac or Fannie Mae backed mortgage loans that have a loan-to-value (LTV) ratio of greater than 80% on their mortgage. Because mortgage loans with an LTV of over 80% are often unable to qualify for typical loan refinancing options, the HARP program was essential to permit as many people as possible to begin spending less on their monthly mortgage payments. As credit seekers expectations have changed since the program was implemented, the HARP program has also been subject to quite a few changes to allow for additional flexibility for acceptance. At this time, the HARP program being offered is called HARP 2.0 and offers more flexible qualification requirements. Below is a summary of the history and development of the HARP refinancing program:
HARP 1 (Original HARP Refinance mortgage loan)
The HARP 2.0 home refinance loan process is providing substantial relief for Lazy Lake home owners that did not refinance in the past as a consequence of decreasing house values. The new 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 prominent modification. Meaning no more limitations on how much money a home owner currently owes on their home loan verses how much their property is currently worth. Lazy Lake home owners upside down or underwater on their home loan will now have some relief. The best part is, there are a reduced amount of restricted credit guidelines implemented. Most of the so called government backed refinance programs in the past have fallen short of honestly supporting home owners to refinance their home loan to a lower interest rate. The latest edition of the HARP mortgage program (2.0) provides the help many Lazy Lake home-owners have needed for so long. Irrespective of who your current loan provider is (Wells Fargo, Bank of America, Chase, Citi, etc) we are able to help on condition that your mortgage is presently Fannie Mae or Freddie Mac backed.
HARP 3.0 is still a hypothetical scenario and all of the information provided is speculation. The main points of the program are based upon what is currently being reviewed but it is not known what the final program may offer or if it will even pass. The federal government has assumed that it would likely help over 30 million borrowers and save home-owners an average of $400 per month on their payments, that may add to $35-70 billion in financial benefits each and every year.
HARP 3.0 MYREFI (Recommended Potential Program)
HARP refinance loan application form requests are being processed now. You can click here to get started and to check your HARP mortgage eligibility. The fast application form only takes one minute without any personal details ever 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?