Bonita Springs HARP Refinance

apply-now-today Apparently you have never been late with your mortgage loan payments but for some reason nobody wants to refinance your home because of its depletion of value? Luckily, there are ways to take out a refinance mortgage on your residence easier and better than ever before. Meet HARP, aka the Home Affordable Refinance Program. So now you ask what exactly is a Bonita Springs HARP refinance loan?

What is HARP’s Purpose

Created in March of 2009, Bonita Springs HARP refinance aims to be able to provide refinance mortgage loans to property owners which owned homes that dropped in value. The purpose of this was to minimize the United States housing bubble of 2006. However this program was implemented exclusively for property owners who are current on their mortgage loan payments, but rather have been making timely payments towards paying their home loan off.

Who’s Eligible for a Bonita Springs HARP Refinance

Same as any other government program, Bonita Springs HARP refinance loans has a lot of basic requirements. Take a look at some: Only home loans backed by FNMA or Freddie Mac are covered by HARP. Home Mortgages must have been closed and funded before May 31, 2009. Homeowners can’t have been delinquent on any mortgage payments, 6 months prior applying for Bonita Springs HARP refinance. The loan-to-value ratio must be in excess of 80% In order to qualify there has to be some type benefit to the homeowner in regards to their mortgage payments or stability in mortgage.

How do homewoners benefit from HARP?

The HARP refinance mortgage has multiple benefits. One example would be, if you still have a $150,000 home loan balance on a now $120,000 residence, you can have your mortgage remortgaged. In doing so, you pay the Bonita Springs mortgage faster than before. Also, the monthly loan payments you make will most likely be smaller than you are currently paying. If your place of residence dropped in property value and you want to do a refinance, then Bonita Springs HARP refinance mortgage is for you. If you require further information, or would like to speak to an expert about Bonita Springs HARP refinances, feel free to call us at (877) 442-4023 or fill out our rate quote form.


 

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1990 Main Street, Suite 750
Sarasota, FL 34236
Phone: (941) 256-3729
Toll Free: (877) 442-4023

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