Bonita Springs HARP Refinance

apply-now-today So you have always been on time with your home loan installments but nobody wants to allow your home to be refinanced because of its reduction of value? Well, there is a way to take out a refinance mortgage on your home faster and more effective than ever before. Meet HARP, aka the Home Affordable Refinance Program. So now you ask what exactly is a Bonita Springs HARP refinance mortgage loan?

Its Purpose

Created in March 2009, Bonita Springs HARP refinance hopes to provide refinance mortgage loans to homeowners which owned homes that dropped in value. The purpose of this was to counter the U.S. housing burst bubble of 2006. This program however was implemented solely for homeowners who are current on their home loan installments, but rather have been making timely payments towards paying their home loan off.

Eligibility

Similar to other government program, Bonita Springs HARP has many requirements. Here is a closer look at some: Only home loans backed by FNMA or Freddie Mac are covered by HARP. Home Loans must have been closed and funded before May 31, 2009. Homeowners can’t have defaulted on any loan payments, 6 months prior applying for Bonita Springs HARP refinance. The LTV ratio must be over 80% There must be some sort benefit to the home owners in regards to their home loan payments or stability in mortgage.

Who benefits from HARP?

The Bonita Springs HARP refinance mortgage has multiple benefits. For example, if you still have a $150,000 home loan balance on a now $120,000 home, you can have your home loan remortgaged. In doing so, you pay down the Bonita Springs home loan faster than before. Also, the monthly mortgage payments you make will likely be much smaller than you are currently paying. If your place of residence dropped in value and you want to refinance your mortgage, then Bonita Springs HARP mortgage loans is for you. If you would like to have additional information, or would like to speak to an expert about Bonita Springs HARP mortgages, feel free to call us on (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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