The Home Affordable Refinance Program (HARP) is a program designed to help qualified homeowners take advantage of today’s low interest rates even when their property values have declined since they purchased their home and they owe more than the property is worth.
You need a home loan lender who understands your financial situation as much as they understand your personal goals. And that’s where we come in.
See if you meet these basic eligibility requirements:
Work with us whatever way works for you. Connect in person, online, or over the phone. Your home mortgage consultant will be by your side throughout the home-buying process.
Compare different types of new home and refinance mortgage loan programs and their features to help you decide which product is best for you.
Looking to buy a home with as little as 3.5% down and easy qualification and credit requirements? Learn more about FHA loans and apply today!
Discover the benefits of a VA loan including VA mortgage rate information. Government-backed VA loans require no down payment or PMI insurance. Apply today.
Introduced in March 2009, HARP enables borrowers with little or no equity to refinance into more affordable mortgages without new or additional mortgage insurance.
HomePath allows you to buy homes that have previously been repossessed by Fannie Mae. It allows you to get a home with as little as 5% down and have no mortgage insurance.
Jumbo loan mortgages are a great way to buy a luxury home . Jumbo mortgages can exceed the conforming loan limit. Learn more to see if this is the right option for you.
A conventional fixed-rate mortgage guarantees a fixed interest rate and payment over the life of the loan with terms ranging in average from 10 to 30 years.
No mortgage insurance. Many home owners discover that refinancing will require them to pay costly mortgage insurance, which protects lenders from an owner’s default. With a HARP loan, you are not required to pay mortgage insurance, even if you owe significantly more than your house is worth.
Any salaried, self-employed or professional Public and Privat companies, Government sector employees including Public Sector is eligible for a personal loan.
Maximum age of applicant at loan maturity: 60 years
Minimum Net Monthly Income: Rs 15,000
Applicant should have the bank specified credit score.
Frequently Asked Questions and Answers To Your Loan Needs.
Your loan servicer is the financial institution that collects your monthly mortgage payments and has responsibility for the management and accounting of your loan. It is possible that the owner of your mortgage also services it, however many loans are owned by groups of investors and these investors hire loan servicers to interact with homeowners on their behalf. Many lenders also have the loan servicers handle all contact with homeowners.
For example, your servicer could be “Bank A” but the investor in your loan could be Fannie Mae, Freddie Mac or a group of investors.
Both Fannie Mae and Freddie Mac have established toll-free telephone numbers and web submission processes to make this data available. Homeowners can enter information to determine if either agency owns or guaranteed the loan. This information is not a guarantee of eligibility for a refinance under HARP ®, as other qualifying criteria must also be met.
For Fannie Mae:
www.fanniemae.com/loanlookup
For Freddie Mac:
www.freddiemac.com/mymortgage
HARP is like any other mortgage where you may be required to pay certain costs for the application, processing, appraisal, title search and other necessary items to complete your refinance.
The rate will be based on market rates in effect at the time of the refinance and the homeowner will be subject to any associated points and fees quoted by your lender. Interest rates may vary across lenders and over time as market rates adjust. The refinanced loans must have no prepayment penalties or balloon payments.
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