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Loan Officers
C. Mario del Pino
NMLS: 938420
C. Mario del Pino

HARP Loans

HARP Loans May Be the Affordable Way to Refinance -
See If It's Right For You

HARP loans

HARP Loans are a federal government program launched to help millions of underwater home owners refinance and get a fixed loan with lower payments. The program affects borrowers with a loan-to-value ratio of greater than 125%. The goal of the program is to make monthly payments more affordable for borrowers who don’t have enough equity in their homes to get conventional refinancing.

How to Get a HARP Refinance Quote

All you have to do in order to get a free HARP quote is to submit your request to an authorized HARP lender. When submitting the request, remember to say that your current loan is backed by federal programs Freddie Mac / Fannie Mae. You can also get in touch with your current mortgage lender to see if they participate in HARP.

What Happened to the Original HARP Program?

The first HARP program had a lot of obstacles that created difficulties for borrowers to refinance. For example, it only helped people with loan to value mortgages of between 80 and 125%. However, in many parts of the US homes have lost more than 50% of their value, meaning those borrowers were not eligible for the program.

Eligibility for HARP

• Your home mortgage is owned by Freddie Mac or Fannie Mae
• Your loan was sold to Freddie Mac or Fannie Mae on or before 1st June 2009
• You are up to date on your mortgage payments
• In the last year you have been 30 or more days late on your payment just once.
• In the 6 months before you apply for HARP you have not been more than 30 days late making your loan payment.

HARP Loans are a great way to go if you’re trying to refinance but your home is underwater. See if you qualify for this very helpful refinance plan.

To find out more about HARP Loans, call Mortgage Options today: (803) 732-5787 or Toll Free at (866) 456-5511.