The Home Affordable Refinance Program (HARP) loan will allow many home-owners in Hamilton County to refinance their underwater homes where it was previously not possible. If you are among the numerous who are qualified for the newest HARP refinancing program, FiveStarsMortgage.com can assist you to quickly help 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, Eligibility Requirements, and Features
The Making Home Affordable Program, first created and launched in 2009, allows many homeowners who were previously unable to get refinancing for their mortgage loan. As a consequence of common declines throughout the market and home value decline, homeowners were bogged down paying more than they could afford on their homes. Amongst the main benefits of the program was the development of the Home Affordable Refinance Program, or HARP. Utilizing this new loan refinancing program, eligible residents of Jasper, FL with HARP Refinancing can get a lesser payment for their mortgage loan and save thousands of dollars in the long term.
The HARP process is for home-owners with Freddie Mac or Fannie Mae backed mortgage loans having a loan-to-value (LTV) ratio of over 80% on their home loan. Because home loans that have an LTV more than 80% are often not able to qualify for conventional mortgage refinancing options, the HARP program was essential to allow as many people as possible to begin saving money on their payments. As credit seekers demands have changed since the program was implemented, the HARP program has also undergone some improvements to allow for greater flexibility for acceptance. Presently, the HARP program being offered is labeled HARP 2.0 and gives more flexible qualification conditions. This is the review of the historical past and progression of the HARP home refinance loan program:
HARP 1 (Original HARP Refinance loan)
The HARP 2.0 mortgage refinance loan process can give major relief for Jasper, FL home owners that could not refinance in the past resulting from declining home 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 significant modification. This suggests no more restrictions on how much a home owner owes on their home verses how much their home is currently worth! Florida home-owners upside-down or underwater in their mortgage will now have some help. Also, there are fewer restrictive credit regulations installed. Most of the so called government relief loan refinancing programs in the last several years have fallen short of truly assisting homeowners to refinance their mortgage loan to a lower rate of interest. The modern edition of the HARP mortgage program (2.0) provides the relief many Jasper, FL home-owners have needed for way too long. Irrespective of who your actual loan servicing company is (Wells Fargo, Bank of America, Citi, Chase, etc) we can help you provided that your mortgage loan is presently 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 are derived from what is increasingly being outlined but it is not known what the finalized program will offer or if it will even have the chance of passing. The federal government has assumed that it would most likely help over 20 million borrowers and save home-owners an average of $200 a month on their monthly payments, which could add to $35-70 billion in financial benefits yearly.
HARP 3.0 My Refi (Projected Potential Program)
HARP refinance loan application requests are being handled now. You can click here to get started and to check your HARP mortgage loan eligibility. The quick application form only takes one minute with zero personal details required. You can also call 800-871-2636 7 days a week.
Are you a home-owner that does not currently have a traditional mortgage loan?