Low Rates On Obama’s HARP Refinance Program 2015 – Check If You Can Get One Today – No Obligation Quotes

The good news is that homeowners who are dealing with financial troubles in being current on their mortgage payments and simply need to refinance their mortgage, can consider applying for HARP refinance program 2015 or Home Affordable Refinance Program.  

Making Home Affordable program MHA, which involves HARP, is specifically designed for distressed homeowners who are finding it increasingly difficult to manage mortgage debts. Typically MHA offers home mortgage modification and refinancing options to help borrowers in reducing their monthly payments and thus get them a more stable and affordable mortgage. If you could qualify for Obama’s refinance program, you may get access to low HARP refinance rates.

Home Affordable Refinance Program is one of the MHA alternatives. The rate of interest offered on HARP loans could be quite lower in few cases but in order to secure the same, applicant needs to satisfy several eligibility criteria. To be eligible to get benefited with HARP refinance 2015, the homes have to be primary residence of applicants. Moreover, one needs to make sure that he has been current on payments of his existing mortgage for the past twelve months. In addition to this, applicant also needs to make sure that his current mortgage has been backed, owned or insured by either Freddie Mac or Fannie Mae. It is evident that qualifying for the federal HARP refinance loans is not just about meeting approval criteria. But in order to improve chances of securing early HARP approval, it is equally important to furnish accurate documentation. Besides, applicant also should determine debt-to-income ratio and new target payments. This makes it necessary for an applicant to seek help from a competent mortgage expert who is well versed with HARP eligibility criteria as well as process requirements.

Nowadays, many online firms offer expert assistance to help distressed homeowners in securing low HARP refinance rates 2015 regardless of their credit status. Such firms do employ professionals or mortgage experts who have required knowledge, skills and experience to assist applicants who are in need of a stable and affordable mortgage. By approaching such an expert, you will be able to explore various mortgage refinancing options and also could choose the best solutions for your individual financial needs and budget. Derive guidance of a mortgage expert and learn how to qualify for a loan that will fit in your budget.  But, you have to make sure that the expert assistance you have chosen is absolutely reliable.  

Obama’s HARP refinance program 2015, a part of Making Home Affordable offers mortgage refinancing solutions to homeowners who are in need of more stable and affordable product.  You could get the lowest HARP refinance rates and reduce your monthly payments substantially. Determine your eligibility for low HARP refinance rates 2015 with professional assistance of a competent mortgage expert and see if you could take best advantage of HARP refinance loans. 

What Is The Harp Refinance Program – Home Affordable Refinance Guidelines Online With No Hassle

It is very important for home owners to learn about the Home Affordable Refinance Program the HARP. So, what is the harp refinance program? This loan is part of a federal program introduced in the year 2009. It was the set up by the Federal Housing Finance Agency which wanted to offer some relief to homeowners, whose homes have reduced in value. With the help of the HARP program, these homeowners can take advantage of the low interests. Here is more on. Read on

Before, we delve in to the details of the Home Affordable Refinance Program, let us tell you that this will only last till the end of December 2015. So, make sure you are making the most of this wonderful plan designed to help distressed homeowners. Now, if the value of your home is less than the total amount of your loan to the creditor, he (i.e. the creditor) will not really approve you for a refinance program. There were several borrowers who had faced a deep decline in the value of their homes post the US Housing Market Correction. What is harp refinance? And, how exactly is it helpful in these situations? The next part of this post explains the same.

The HARP lenders are there to help borrowers who are current on their payments but have experienced a sharp drop in the value of their homes. However, before applying for such a program (i.e. the harp refinance program) you should check whether at all, you are eligible for the same or not. Besides finding out what is a harp refinance, you should also know what qualifies you for the program.

You should be current on the monthly payments with proper repayment record of at least the past twelve months,

• The loan should be a Freddie Mac or Fannie Mae guaranteed one
• The home must be your primary residence (with you living there)
• The Loan and home value ratio must be 80%

Kindly visit the website www.mortgagerefinanc101.com for further information in this regard. Please ensure that you are going through this website thoroughly in a bid to keep track of even the minutest detail in relation to the mortgage loans. 

Ways To Avail Government Home Affordable Refinance Program With No Closing Cost

Refinancing Mortgage loans simply mean to reduce the interest rates and saving up on the high interest rates that one usually pays for their houses taken with the help of house loans. Keeping such refinancing programs in mind, the governing body of United States started a program for those whose homes has less worth than the outstanding balance of their loan called the Home affordable refinance Program (HARP).

As introduced by the government home affordable refinance program includes those who have mortgages either owned or guaranteed by government approved mortgage companies namely Freddie Mac and Fannie Mae which was purchased by these companies before the year 2009. refinancing one’s home loans saves one from bad credit scores and thus by being a part of HARP one can pay back their mortgage on time.

 For home loans under affordable refinance program the closing costs and the mortgage rates vary with various banks and therefore the home loan affordable refinance program rates also differ. When one takes a new home loan for a higher amount than what is the due amount for a current home loan and receives the difference in cash, it is then referred to as cash out home loans refinance.

The Home affordable refinance Program (HARP) is not always meant for anyone who plans to refinance their mortgage home loans. They need to be certified by government agencies and checked whether they qualify for the program or not. It is usually advised by experts that before settling down for any refinancing plan, it is always smart to check and compare quotes from various mortgaging companies and finally ensuring that they receive the best refinancing plans for their mortgage home loans.

Before choosing any mortgaging company to refinance one’s mortgaging loan under Home affordable refinance Program (HARP), one should make sure that they are certified by government bodies and allows the customers to have free access to the services. For further information on cash out home loans refinancing, one can log on to www.mortgagerefinanc101.com

Check Out If You Can Really Qualify For The Making Home Affordable Program

The making home affordable program or MHA initiated by the Obama administration is still in action to help homeowners lower their monthly payments and makes them more manageable. 

But qualifying for the MHA plan might not be that easy considering the stringent eligibility guidelines and process requirements. Typically, the federal schedule, which is supported by a massive $ 75 billion stimulus package, offers home refinancing and loan modification options to borrowers who have been struggling to deal with their existing mortgage debts. Nevertheless, if you are unaware of the essentials to get qualified, your application may simply get denied.    

MortgagRefinance101 offers professional services online to guide borrowers in understanding the qualification criteria as well as documentary needs and in navigating through the process of getting successfully approved for government assistance.

You could enhance your chances of availing an approval for the harp refinance program if you are able to meet few basic requirements. To that effect, to determine whether you really eligible to receive the benefits of low rate mortgage refinancing or modifications, just find out if you could meet the below mentioned requirements.

• Home that is to be refinanced or for which mortgages are to be modified needs to be your primary residence. 

• Existing unpaid mortgage loan balances cannot exceed prescribed limits for homes between 1 to 4 units.

• All Fannie Mae or Freddie Mac backed home mortgages automatically qualify for federal mortgage assistance. 

• Financial hardship situation faced by the home maker has to be foreseeable and has to be clearly demonstrated.

There could be a host of options available to eligible borrowers under the government program, the making home affordable refinance plan (HARP) and the making home affordable modification plan (HARP) being the most sought after. In any case, to enhance your chances of being HARP or HAMP approved, it could be important for you prepare and furnish correct and accurate documentation.

MortgagRefinance101 has experts who are well versed with the government home affordable refinance program or home loan modification plan.  Hence, by availing our expert services you could get actively assisted to improve your chances of getting an early approval for the HARP or the HAMP.