Harpguide.org Website Review

More than 3.4 million have refinanced through HARP® thousands more are eligible Introduced in March 2009, HARP enables borrowers with little or no equity to refinance into more affordable mortgages without new or additional mortgage insurance. HARP targets borrowers with loan-to-value (LTV) ratios equal to or greater than 80 percent and who have limited delinquencies over the 12 months prior to refinancing. Through HARP, you can get a lower interest rate (which means less out-of-pocket costs each month), get a shorter loan term, or change from an adjustable to fixed-rate mortgage. There’s no minimum credit score needed, either. Borrowers will now be able to refinance regardless of how far their homes have fallen in value. Previous loan-to-value limits were set at Most homeowners will not have to get an appraisal or have their loan underwritten, making their refinance process smoother and faster. Certain risk-based fees for borrowers who refinance into shorter-term loans have been reduced. Lenders now need less paperwork for income verification, and have the option of qualifying a borrower by docu*enting that the borrower has The end date to get a HARP refinance is December 31, 2018. If you are current on your mortgage; have a mortgage that is owned by Fannie Mae or Freddie Mac, and owe as much or more than your home is currently worth, you may be eligible for HARP refinancing. That can mean significant savings by: Average savings for CALIFORNIA Homeowners Who have Refinanced with HARP: By refnancing to a mortgage with a lower interest rate, you could pay less each month and over the life of the loan. Today’s market rates are more than 30% lower than in 2008 By switching from a 30-year to a 15-year loan, you’ll build equity. USE ONLINE TOOL TO VERIFY YOUR HARP REFINANCE ELIGIBILITY. Even if you applied for HARP refinancing before and were declined, look into it again. If you qualify to refinance your mortgage through HARP, you’ll go through an application, approval and closing process (similar to when