For Fannie Mae and Freddie Mac Guaranteed Loans
Underwater On Your Mortgage?
This NEW HARP2 program may help!
With the new Home Affordable
Refinance Program (HARP) loan, you may be able to refinance no matter
how upside-down your mortgage is!
HARP2 may be a viable option if you intend to stay in your home for the next 20 years. The
Federal Reserve's View: Can the 60/40 Plan Really Save The Housing
Market? What if the homeowner needs to move before
their homes' value returns to outstanding loan balance?
Would you like to lower your monthly mortgage payments and have more cash in your pocket?
Freddie Mac and Fannie Mae have adopted changes to the Home Affordable Refinance Program (HARP) and you may be eligible to take advantage of these changes. If you currently have a mortgage held by Fannie Mae or Freddie Mac, the HARP II refinance loan can help you lower your interest rate, decrease your monthly payments and help you start turning your finances around.
- Appraisals may be waived
- No LTV/CLTV restrictions on fixed-rate loans of 30 years or less
- Only 620 FICO required
- Loan was sold to Fannie or Freddie before June 1, 2009
If your mortgage is owned or guaranteed by either Freddie Mac or Fannie Mae, you may be eligible to refinance your mortgage under the enhanced and expanded provisions of HARP. The refinance must benefit you in one of four ways:
- Reduction in the borrower's monthly principal and interest payment
- Reduction in the interest rate
- Reduction in the amortization term
- Movement to a more stable product (i.e., interest-only to fully amortizing, ARM to fixed, 30-year to 15-year, etc.)
The HARP II loan may be the solution you’ve been looking for!
To take advantage of updated HARP2 guidelines:
to your lender and asks
if they support HARP;
- IF your lender does not support HARP, contact us.
Contact Us 702-677-8796
Linda Strasberg Las Vegas Realtor
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