Understand Basic Eligibility Criteria Before Applying For Student Loan
HARP Loan Program Eligibility
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Transcript of HARP Loan Program Eligibility
If you’re underwater onyour current mortgage,there are options that canhelp you. You could beeligible to refinance yourhome without the worry ofhaving to pay mortgageinsurance or pay down theprincipal on your existingmortgage.
MORTGAGE.INFO LENDER HOTLINE: 888-581-5008
What is the HARP Loan Program?
With HARP you can get alower interest rate thanyour existing loan, youcould also shorten yourloan term, or change froman adjustable to a fixedrate mortgage and there’sno minimum credit score.
MORTGAGE.INFO LENDER HOTLINE: 888-581-5008
HARP QualificationsCurrent on your existing mortgage
No more than 30 days late payments made to your
mortgage in the last 6 months
Your home is your primary residence
Your loan is backed by Freddie Mac or Fannie Mae
Your existing mortgage loan originated before May
31, 2009
Your current LTV (Loan-to-value) ratio must be
greater than 80%
MORTGAGE.INFO LENDER HOTLINE: 888-581-5008
Included in the HARP programNo “Underwater” Limits- Borrowers can now refinance
their mortgage regardless to how far their home has
dropped in value.
No Appraisals and No Underwriting- Your refinance
process will be much faster and smoother without
having to get an appraisal or having to get your loan
underwritten.
Modified Fees- Some risk based fees have been reduced
for borrowers who refinance into a shorter term loan.
MORTGAGE.INFO LENDER HOTLINE: 888-581-5008
Less Paperwork- Now when you use the HARP
program to refinance, lenders don’t require income
verification making for a lot less paperwork.
Program Deadline- Act fast if you’re contemplating
the HARP refinance program, because it’s set to end
December 31, 2016.
MORTGAGE.INFO LENDER HOTLINE: 888-581-5008
T O L E A R N M O R EMORTGAGE.INFO
LENDER HOTLINE: 888-581-5008
C L I C K H E R E
MORTGAGE.INFO LENDER HOTLINE: 888-581-5008
Justin McHood is Americas MortgageCommentator and has been providing
Mortgage commentary for over 10 years.
INFORMATION PROVIDED BY:Justin McHood
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MORTGAGE.INFO LENDER HOTLINE: 888-581-5008