The Home Affordable Refinance Program (HARP) loan enables a great number of homeowners in Hernando County to refinance their under water homes when it was previously unattainable. If you are among the numerous who qualify for the newest HARP refinance program, FiveStarsMortgage.com will help you to efficiently 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 Qualifications, Plan Prerequisites, and Updates
The Making Home Affordable Program, first created and started in late 2009, helps many homeowners who had been previously helpless to get refinancing for their home loan. By way of general decreases in the economy and home value decline, home owners were having trouble spending more than they can afford on their homes. Amongst the most significant benefits of the program was the creation of the Home Affordable Refinance Program, or HARP. Utilizing this new loan refinancing process, approved residents of Weeki Wachee with HARP Refinancing can get a more affordable payment for their home loan and save lots of money over the years.
The HARP system is for home-owners with Freddie Mac or Fannie Mae backed home mortgages having a loan-to-value (LTV) ratio greater than 80% on the mortgage loan. Because home loans that have an LTV of over 80% are often not in a position to qualify for typical refinancing options, the HARP program was necessary to let 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 gone through some adjustments permitting added flexibility for approval. Currently, the HARP program provided is labeled HARP 2.0 and offers more flexible qualification guidelines. This is a review of the historical past and continuing growth of the HARP loan refinancing program:
HARP 1 (Original HARP Refinance mortgage loan)
The HARP 2.0 home refinance loan program is providing critical assistance for Weeki Wachee, FL home owners that did not refinance their home in the past because of diminishing house values. The new 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 significant alteration. This simply means no more limitations on how much a homeowner owes on their home loan vs. how much money their home is currently worth! Florida home-owners upside-down or under water with their home loan will get some assistance. On top of that, there are also a lot less restrictive credit guidelines in place. Most of the so called government relief refinance programs in the past have fallen short of honestly aiding homeowners to refinance their mortgage loan to a lower rate of interest. The current rendition of the HARP mortgage program (2.0) offers the help many Weeki Wachee, FL homeowners have deparately needed for too long. Whatever who your current loan provider is (Wells Fargo, Bank of America, Chase, Citi, etc) we can provide assistance providing your mortgage loan is presently Fannie Mae or Freddie Mac backed.
HARP 3 is still a hypothetical scenario and all of the information provided is hypothesis. The important points of the program derive from what is increasingly being spoken about but it is unknown what the eventual program will offer you or if it will even pass. The government has assumed that it would probably help over 20 million borrowers and save families an average of $200 a month on their payments, that could total $35-70 billion in financial benefits annually.
HARP 3.0 MYREFI (Planned Potential Program)
HARP refinance mortgage application form requests are being processed now. You can click here to get started and to check your HARP mortgage loan eligibility. The short application form only takes a moment without any personal info required. You can also call 800-871-2636 7 days a week.
Are you a homeowner that does not currently have a conventional mortgage loan?