The Home Affordable Refinance Program (HARP) loan lets a large number of home-owners in Citrus County to re-finance their underwater homes where it was previously unachievable. If you are among the many who qualify for the newest HARP refinance program, FiveStarsMortgage.com can assist you to swiftly be of assistance to you in your loan. Call 800-871-2636 or fill out this HARP Information Request to get started toward a lower interest rate immediately.
HARP Refinance Historical Background, Eligibility Prerequisites, and Updates
The Making Home Affordable Program, first created and launched in 2009, helps numerous homeowners who were previously unable to refinance their mortgage. By way of basic declines in the economy and property value decline, home owners were having difficulty spending money on more than they can afford on homes. Among the largest benefits of the program was the creation of the Home Affordable Refinance Program, or HARP. With this new mortgage refinancing program, eligible home owners of Lecanto with HARP Refinancing may get a cheaper payment for their mortgage loan and save lots of money in the long term.
The HARP program is for homeowners with Freddie Mac or Fannie Mae backed home loans that have a loan-to-value (LTV) ratio greater than 80% on the home loan. Because mortgages that have an LTV in excess of 80% are often not able to qualify for typical refinancing options, the HARP program was necessary to permit as many people as possible to start spending less on their monthly mortgage payments. As credit seekers expectations have changed since the program was implemented, the HARP program has additionally been through quite a few improvements to permit a bit more flexibility for approval. At this time, the HARP program made available is referred to as HARP 2.0 and provides more flexible qualification specifications. Here is a breakdown of the history and progression of the HARP refinance loan program:
HARP 1 (Original HARP Refinance)
The HARP 2.0 home refinance loan process provides essential assistance for Lecanto, FL home owners that were not able to refinance in the past due to declining home values. The new 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 vital adjustment. This simply means no more limitations on how much a homeowner currently owes on their home verses how much money their home is currently worth! Lecanto home owners upside down or under water on their mortgage loan can have some help. The best part is, there are also fewer restricted credit guidelines installed. Many of the so called government refinance loan programs in the past have fallen short of honestly aiding home owners to refinance their mortgage to a lower rate of interest. The latest version of the HARP mortgage program (2.0) provides the relief many Lecanto, FL property owners have needed for so long. Whatever who your loan provider is (Citi, Chase, Wells Fargo, Bank of America, etc) we are able to help you so long as your mortgage loan is at present Fannie Mae or Freddie Mac backed.
HARP 3 is still a hypothetical scenario and all of the information discussed is simply speculation. The main points of the program are based upon what is currently being spoken about but it is unknown what the eventual program will offer you or if it will even pass through Government red tape. The federal government has assumed that it would likely help over 30 million borrowers and save families an average of $200 a month on their monthly mortgage payments, that may add to $35-70 billion in savings every year.
HARP 3.0 My Refi (Proposed Potential Program)
HARP refinance home loan application requests are being handled now. You can click here to get started and to check your HARP mortgage loan eligibility. The short application only takes a minute with no personal data required. You can also call 800-871-2636 7 days a week.
Are you a homeowner that does not presently have a traditional mortgage loan?