what is the harp loan

Do you qualify for a HARP loan? Spend just a few minutes with Don Carriker from I Want A great home loan dot com to get those questions With all the big companies touting the HARP loan online and through TV commercials, you would think everyone can get one of these and that they are the.

HARP allows you to get a new loan with a better interest rate or better repayment terms overall, making your home more affordable. The loan must be older than May 31, 2009 and cannot have been previously refinanced through HARP, unless the refinance took place from March to May of 2009.

Loan-To-Value Ratio – Your current LTV ratio must be greater than 80%. Good Payment History – You must be current in your mortgage payments, with no missed payments during the last twelve months prior to application. You can qualify for HARP with a second mortgage, but the lender with the junior.

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Like any refinance transaction, HARP loans come with fees, so you’ll have to weigh the costs and benefits for your specific situation. The good news is that HARP’s fees are less than the fees for typical refinances. For instance, you won’t have to pay for a full appraisal if the lender can get a reliable.

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HARP is the acronym for the Home Affordable Refinance Program. The HARP program was originally a program designed for homeowners with loans serviced by Fannie Mae and Freddie Mac, allowing them to refinance with no mortgage insurance, and with loans that were "underwater", or.

Ask if they are an approved HARP lender. Since you are a current customer, your lender already has your loan application. However, they will need you to provide the details necessary to verify your current salary of your income.

What is a HARP loan? harp mortgage reviews. There are some common questions floating around regarding HARP loans. HARP stands for Home Affordable Refinance Program. It was enacted by the U.S. federal government and established by the Federal Housing Finance Agency in March of 2009.