What is a HARP 2.0 Loan?
HARP 2.0 Is A Refinance Program That Allows The Refinancing Of Homes Where The Mortgage Balance Exceeds The Value Of The Property.
E Loans Mortgage In Spring Hill FL is offering the HARP.20 Refinance Program in addition to our other Mortgage Products.
What Are The Requirements Of HARP 2.0?
The Loan Must Be Owned By Either FANNIE MAE Or FREDDIE MAC The Loan Must Have Been Closed Before May 31st Of 2009
What Are The Benefits Of HARP 2.0?
Loan To Values For Lending Purposes Can Go Up As High As 125%. In Other Words, You Can Be Up To 25% Negative In Equity And Still Qualify For A Refinance Low Rates!
The Maximum Loan Level Pricing Adjustments Are Only .75%. That Means Its Realistic To Achieve Today’s Very Low Interest Rates Which Nationally Are Averaging Below 4% For A 30 year Fixed Term.
There is No Loan Level Pricing Adjustments On 10, 15, and 20 Year Terms Condominiums Are Eligible!
Condo’s Can Be Refinanced Under HARP 2.0 Up To 125% LTV
Property Inspection Waivers Are Available In Many Cases. This Means An Appraisal May Not Be Required At All!
For More Information About HARP 2.0 Or Other Mortgage Products Contact Us Today:
Steve Fingerman
President
4117 Mariner Blvd.
Spring Hill FL, 34609
Office 352-688-7949 Cell 727-946
President
NMLS #276682
4117 Mariner Blvd
Spring Hill FL, 34609
Office 352-688-7949 Cell 727-946-0904
Sounds like you are on top of things as usual. Do you have to be current on your underwater mortgage to take advantage of this product?
Great information and leav it to Jeanne to ask the right questions! Thanks for the post, Steve!
Sorry I did not get back to you right away on this one! Ok so here is the scoop. The program is not designed for homeowners who are in default nor is it for foreclosure rescue. It's for borrowers who have been responsible, but who's homes are underwater and preventing them from refinancing to today's lower rates. Maximum mortgage late payments borrower can have is 1 30 day late payment in past 6 months. Most of the approvals will come in with an appraisal waiver, some may require it based on risk factors. However either way under the HARP 2.0 Program the appraisal will not prevent a borrower from refinancing regardless of value or how much the home is underwater. Hope that helps some, let me know if you have any other questions. I have full guidelines on this now.
AR MeetUp April 17th........hope you can make it and bring a colleague or two........Tarpon Turtle at 1 pm or a little later if need be.....we will be there for a few hours. If you can come, RSVP to the blog about it posted today.