Many homeowners are not aware of the special “Home Affordable Refinance Program (HARP)” offered through the government. HARP provides a refinance option to homeowners who owe more on their mortgage than their home is worth. This is great news for homeowners that are upside down on their mortgage who would like to take advantage of the current record-low mortgage rates.
Eligibility requirements for a refinance through HARP include:
• The loan on your property is owned or guaranteed by Fannie Mae or Freddie Mac.
• The amount you owe on your first mortgage does not exceed 125% of the current market value of your property.
NOTE: Some lenders may require a lower percentage.
• You are the owner-occupant of a one- to four-unit home.
• Your mortgage payments are current, at the time you apply.
• The refinance improves the long term affordability or stability of your loan.
About Me
- Effective Mortgage Company
- Northridge, CA, United States
- We are a full service mortgage brokerage with experience in the areas of mortgage lending, real estate and business. Our company has established relationships with many mortgage investors and banks to provide the best programs for your individual circumstances. We specialize in Conventional, Goverment, Investment, and Reverse Mortgage. We are experts regarding any FHA or VA (veteran) questions you may have. Post any questions or feel free to call our office 818-773-0033. If our clients don't fit into one of the many loan programs offered we promise to help them overcome the roadblocks that can stop them from securing a loan. When purchasing we suggest always getting a pre-approval early on to have ease of mind knowing what amount you will qualify for and make the loan process as smooth as possible.
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