The Home Affordable Refinance Program (HARP) loan allows for a large number of home-owners in Gilchrist County to refinance their underwater homes where it was previously unachievable. If you are one of many who are qualified for the latest HARP refinance program, FiveStarsMortgage.com will help you to easily be of assistance to you with your mortgage loan. Call 800-871-2636 or fill out this HARP Information Request to get going toward a lower interest rate immediately.
HARP Refinance Qualifications, Eligibility Prerequisites, and Information
The Making Home Affordable Program, which was created and initiated in 2009, lets numerous home owners who were previously struggling to get refinancing for their mortgage loan. Attributable to total declines throughout the market and property values, homeowners were having difficulty having to pay more than they could afford on homes. One of the main benefits of the program was the roll-out of the Home Affordable Refinance Program, or HARP. With this new loan refinancing approach, qualified homeowners of Trenton with HARP Refinancing can usually get a cheaper payment for their mortgage and save lots of money in the long term.
The HARP approach is for property owners with Freddie Mac or Fannie Mae backed mortgages who have a loan-to-value (LTV) ratio of greater than 80% on their home loan. Because home mortgages with an LTV in excess of 80% are often not able to qualify for conventional loan refinancing options, the HARP program was needed to let as many people as possible to start lowering costs on their mortgage payments. As credit seekers demands have changed since the program began, the HARP program has additionally gone through quite a few adjustments to permit far more flexibility for approval. At this time, the HARP program being offered is called HARP 2.0 and offers more flexible qualification conditions. Below is a review of the history and continuing growth of the HARP refinancing program:
HARP 1 (Original HARP Refinance mortgage loan)
The HARP 2.0 mortgage refinance loan program can give significant assistance for Trenton, FL home owners that were not able to refinance their home in the past on account of dropping 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 prominent adjustment. What this means is no more restrictions on how much a homeowner owes on their mortgage loan verses how much their property is currently worth. Trenton, FL home owners upside-down or under water with their mortgage can get some relief. The best part is, there are fewer restricted credit guidelines installed. Most of the other government loan refinancing programs in the last several years have fallen short of truly assisting home owners to refinance their home loan to a lower interest rate. The modern variation of the HARP mortgage program (2.0) provides the help many Trenton, FL homeowners have needed for so long. Irrespective of who your actual loan servicer is (Wells Fargo, Bank of America, Citi, Chase, etc) we are able to help so long as your mortgage is currently 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 on what is increasingly being outlined but it is unknown what the ultimate program offers or if it will even pass. The federal government has assumed that it would probably help over 20 million borrowers and save home-owners an average of $250 per month on the monthly payments, that may add to $35-70 billion in savings annually.
HARP 3.0 MYREFI (Planned Possible Future 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 a minute and no personal info required. You can also call 800-871-2636 7 days a week.
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