People who Is a good fit towards the HARP Program
The first thing you must take a look at will be your most recent home loan and your commission background. Become eligible for the brand new HARP system, you need to be newest on your mortgage payments. While doing so, you simply can’t have any payments which were over thirty days later during the last six months, no several skipped percentage within the last 12 months.
Lender
Any home loan we should re-finance courtesy HARP should be secured or owned by Frannie Mae otherwise Freddie Mac computer. If you’re not yes which financial has actually your existing home loan, you should check your own Freddie Mac or Frannie Mae mortgage position.
Financial Sort of
Become qualified to receive the brand new HARP program, you could potentially simply have a conventional home loan. Most other mortgage solutions for instance the USDA, FHA, otherwise Virtual assistant financial are not approved into the HARP re-finance program.
One Have fun with
Your elizabeth property shortly after. Anytime you’ve had to refinance your property by this program before, you’ll not have the ability to refinance a moment day.
Origination Big date
Your home loan need an enthusiastic origination day on the otherwise ahead of , to meet up with the requirements on financing. You can utilize the equipment in the list above to get your origination time, or you can label 800-7FANNIE or 800-FREDDIE between 8 are and you can 8 pm eastern time.
Occupancy
Our home we should re-finance towards HARP program keeps several occupancy laws you must pursue to be eligible. The house possibly needs to be your primary household, a single device second home, or a-one so you can five tool money spent.
Several factors makes the newest HARP refinance program a great fit for most people. Because it are to start with designed to let property owners rating down home loan prices, this program could well be a good fit for everyone who desires so you’re able to refinance the newest mortgages but has been refused by the other lenders. Lees verder “People who Is a good fit towards the HARP Program”