A sweet sound for struggling homeowners.
The housing market crash undermined a lot of people’s finances. The Home Affordable Refinance Program (HARP) Loan is designed to help homeowners who are paying off a house that has lost significant value. This federal government program can provide some financial freedom. Refinance to a lower-rate mortgage with no down payment requirement. Plus, you have the choice of fixed or adjustable rates over various terms.
- Expanded loan-to-value ratios provide additional assistance
- Get financial relief if you’re paying off a high-rate mortgage on a home that’s worth less than you owe
|Terms||Multiple years, fixed and ARM|
|Credit Score||620 minimum|
|Maximum Loan Limit||$417,000*|
|*Some “high balance” areas have loan limits above the standard level.|