Mortgages Unlimited is please to offer HARP and HARP 2
What is HARP? HARP stands for Home Affordable Refinance Program, an initiative from the Federal Housing Finance Agency (FHFA) to assist homeowners whose homes are now worth less than what they owe. And just recently, new enhancements to the program were announced, making refinancing options available again to an estimated one million more homeowners.
If you are a responsible homeowner but the current marketplace loan-to-value (LTV) requirements and need for a new appraisal have made it difficult or impossible for you to refinance at today's record low interest rates,Mortgages Unlimited may be able to help you without needing a new appraisal or meeting previous LTV requirements.
Do you have a Fannie Mae or Freddie Mac loan and cannot refinance due to declining property values or a loss of income? Would you like to reduce the cost of your monthly mortgage payments or move into a stable fixed rate mortgage? We may be able to assist through the Homeowner Affordability and Stability Plan. A special "Affordable Program," which is designed to help up to 9 million American families refinance their loans to a payment that is affordable now, and into the future.
One of the initiatives in this program is aimed at helping responsible homeowners "refinance" their loans to take advantage of historically low interest rates.
How do I know if my loan is owned or controlled by Fannie Mae or Freddie Mac?
I owe more than my property is worth. Do I still qualify to refinance under the HARP Home Affordable Refinance Program?
If I am behind (delinquent) on my mortgage, do I still qualify for the Obama HARP Refinance Initiative?
I have both a first and a second mortgage. Do I still qualify to refinance under HARP affordable Refi program?
I have both a first and a second mortgage. Can I combine these into one new loan under the HARP program?
Will refinancing lower my payments?
What will the interest rate be?
Will refinancing reduce the amount that I owe on my loan?
Can I get cash out to pay other debts?
Do I need to pay closing costs?
I am really far underwater on my mortgages, can I still use HARP?
What is the maximum loan amount? I have / need a jumbo loan?
I heard adjustable mortgage refinances are different?
My current loan is FHA, can I use HARP?
My current mortgage company says they are the only ones that can help me refinance with HARP. Is this true? Do I have to use my current lender?
I put over 20% down originally, so I have no PMI. Will I have to have PMI on the new loan?
Can I refinance my second / vacation home or a rental / investment property with HARP?
How do I apply for the HARP Refinance Initiative?
As part of the discussion, we may need to look at the following information:
As always, if you have any questions or would like to discuss how this may specifically impact you, I'd be happy to sit down with you. Just call or E-Mail me to set up an appointment.
If you are a homeowner who is current on your mortgage payments but unable to refinance to a lower interest rate because your home value has decreased, you may be able to refinance.