The Home Affordable Refinance Program (HARP) loan would allow a large number of home-owners in Hillsborough County to re-finance their underwater homes when it was previously impossible. If you are one of many who are qualified for the latest HARP loan refinancing program, FiveStarsMortgage.com will help you to quickly be of assistance to you with the 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, Plan Requirements, and Enhancements
The Making Home Affordable Program, which was created and started in late 2009, helps a large number of home owners who were previously struggling to get refinancing for their mortgage. Because of the complete decreases in the economy and property value decline, home owners were stuck spending money on more than they can afford on their homes. Among the best benefits of the program was the creation of the Home Affordable Refinance Program, or HARP. Because of this new refinancing approach, approved residents of Riverview with HARP Refinancing may get a lower payment for their home and help save a lot of money over the long haul.
The HARP approach is for homeowners with Freddie Mac or Fannie Mae backed home loans having a loan-to-value (LTV) ratio of over 80% on the mortgage loan. Because mortgage loans that have an LTV in excess of 80% are often not able to qualify for typical mortgage refinancing options, the HARP program was important to allow for as many people as possible to start lowering costs on their monthly payments. As borrowers expectations have changed since the program began, the HARP program has additionally been subject to a number of adjustments to enable increased flexibility for approval. At this time, the HARP program sold is known as HARP 2.0 and provides more flexible qualification requirements. Below is a breakdown of the historical past and development of the HARP loan refinancing program:
HARP 1 (Original HARP Refinance)
The HARP 2.0 mortgage refinance loan program gives serious relief for Riverview home owners that did not refinance in the past due to diminishing house values. The newest 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 essential alteration. This indicates no more limits on how much a home owner owes on their mortgage loan vs. how much money their home is currently worth! Florida home owners upside down or under water in their mortgage loan will get some relief. In addition to this, there are a lot less restricted credit regulations installed. Most of the other government backed home refinance programs in the last several years have fallen short of honestly helping home-owners to refinance their mortgage to a lower rate of interest. The modern version of the HARP mortgage program (2.0) offers the relief many Riverview, FL home-owners have needed for so long. It does not matter who your loan provider is (Wells Fargo, Bank of America, Citi, Chase, etc) we can help you so long as your mortgage loan is presently Fannie Mae or Freddie Mac backed.
HARP 3.0 is still a hypothetical scenario and all of the information specified is simply hypothesis. The facts of the program are based on what is increasingly being reviewed but it is not known what the eventual program offers or if it will even pass through Government red tape. The government has assumed that it would likely help over 30 million borrowers and save home-owners an average of $300 a month on monthly payments, that would total $35-70 billion in savings each year.
HARP 3 My Refi (Recommended Potential Program)
HARP refinance home loan application requests are being processed now. You can click here to get started and to check your HARP loan eligibility. The short application only takes one minute with no 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 loan?