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.