Home Affordable Refinance Program – HARP 2.0

The concept is simple, allow underwater homeowner’s to take advantage of historically low mortgage rates by refinancing regardless of their equity position. Responsible homeowner’s who have stuck by their home will then use the HARP 2.0 savings to buy consumer goods, hire more employees for there small business and stimulate the economy.

It’s a good idea, a really good idea.

The Home Affordable Refinance Program will keep more people in their homes. The savings means less incentive to walk away. Fewer foreclosures helps stabilizes neighborhood prices. More stable home prices are good for the neighborhood, the community and the homeowner.

Originally started in April 2009, the Home Affordable Refinance Program (HARP) version one helped a lot of homeowner’s

However, under the old HARP setup, restrictions on Loan to Value of 125% and large interest rate adjustments for refinances over 100% LTV meant that many people we not eligible for the program. HARP need a facelift.

Enter the new Home Affordable Refinance Program, HARP 2.0.

Get a HARP 2.0 Quote NOW!

How Is HARP 2.0 Program Different?

The primary goal for the new Home Affordable Program is that refinancing will put responsible borrowers in a better position by reducing their monthly payments, reducing their interest rate, reducing the amortization period, or moving them from a more risky loan structure (such as an interest-only mortgage or ARM) to a more stable product fixed rate mortgage.

1. Expand opportunities for Fannie Mae to Fannie Mae refinances through Refi Plus™, which includes Desktop Underwriter® (DU®) and manual underwriting eligibility

2. Allow unlimited LTV ratios on the new loans and additional underwriting flexibilities (loans with LTVs of >105.01 are limited to fully amortizing fixed-rate mortgages with a maximum term of 30 years)

3. Provide a solution for borrowers with LTVs above 80% who currently may not be able to refinance because of mortgage insurance (MI) coverage requirements:

Does Home Affordable Refinance Program 2.0 Really Have No Loan to Value Restrictions?

Even if you are currently at 200+% LTV you can still benefit from Obama’s Home Affordable Refinance Program. Owner’s with condo’s also can participate, good news for our FLORIDA homeowner’s.

Ready to see if you meet HARP Guidelines? Stop waiting, click below for a HARP 2.0 consultation and we will let you know your refinance options.

Want to Know More? Get a Home Affordable Refinance Quote!