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Loan Lookup | Know Your Options – Find the answers to common questions concerning your mortgage and the various options to avoid foreclosure.
Check Your Eligibility For a HARP Loan in South Bend, IN – Basic HARP Eligibility Requirements: Loan amount is more than 80% of home’s value Never refinanced under the HARP program Current and up to date on all mortgage payments No late mortgage payments in the last 12 months Current loan is owned by Fannie Mae or Freddie Mac Current loan was obtained or purchased by Fannie Mae/Freddie Mac before May.
If you’re not eligible for HARP but need to refinance to lower your monthly payment, the FHA loan refinance may be a good option for you. It’s also important to note that current FHA loan holders may be able to refinance their mortgage through a streamlined refinance process.
8 Eligibility Requirements for HARP (Home Affordable. – In fact, in order to be eligible for HARP, the loan-to-value (LTV) ratio of your mortgage and home must be at least 80%. To calculate your loan-to-value ratio, divide the current balance of your loan by the current appraised value of your home.
What Is a HARP Loan — and Can I Get One? — The Motley Fool – HARP loans do not have a loan-to-value (LTV) ceiling, so there is no specific minimum amount of equity nor a set maximum "depth" underwater for a property to be HARP-eligible.
What Is HARP and Is It Right for You? | DaveRamsey.com – Both Freddie Mac and Fannie Mae require any HARP loans to provide at least one of these benefits: A more stable mortgage (like moving away from an adjustable-rate mortgage) A lower interest rate; A shorter term loan; A reduced monthly principal and interest payment
Additionally, there is a loan age requirement for the new programs that didn’t exist under HARP. Fannie Mae and freddie mac require underwater loans to be at least 15 months old before they can.
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Nisall became eligible for HARP when the program was updated. He worked with his original lender to refinance his mortgage through HARP, which reduced his interest rate by more than 2 percent and shaved about $300 off his monthly mortgage payments.
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Obama's (HARP 2.0) Explained in Less Than 2 Minutes. Home. – The deadline to apply for a refinance under the current HARP program is. Can I ever waive my right to rescind on my mortgage loan?
If your interest-only mortgage is a conforming loan backed by Fannie Mae or Freddie Mac, you should be HARP-eligible. Otherwise, your loan may be an Alt-A or sub-prime mortgage in which case you.
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