Boynton Beach HARP Refinance

apply-now-today So you’ve been timely with your mortgage payments but there isn’t anyone who is interested to allow your home to be refinanced due to its declined value? Well, there are ways to refinance your property faster and better than ever before. Meet HARP, also known as the Home Affordable Refinance Program. So now you ask what precisely is a Boynton Beach HARP refinance?

Purpose of Boynton Beach HARP Refinance

Created back in March 2009, Boynton Beach HARP refinance aims to be able to provide refinancing to home owners which owned homes that decreased significantly in value. This was primarily created to minimize the United States housing bubble of 2006. However this program was designed exclusively for home owners who are current on their mortgage payments, but instead have been making timely payments towards paying their mortgage loan down.

Who’s Eligible for HARP

Just like other government program, Boynton Beach HARP refinance loans has many requirements. Take a look at some: Only mortgage loans backed by Fannie Mae or Freddie Mac are covered by HARP. Home Mortgages are required to be closed and funded before May 31, 2009. Homeowners can’t have been delinquent on any mortgage payments, for the 6 months prior to requesting a Boynton Beach HARP refinance mortgage. The home’s Loan To Value (LTV) ratio must exceed 80% In order to qualify there needs to be some sort benefit to the client in terms of their mortgage payments or stability in mortgage.

Who benefits from HARP?

The HARP refinance mortgage has multiple benefits. One example would be, if you currently have a $150,000 mortgage balance on a now $120,000 property, you can have your loan remortgaged. As such, you pay the Boynton Beach mortgage faster than before. Furthermore, the monthly mortgage payments you make will most likely be much smaller than before. If your place of residence has gone down in property value and you want to refinance your mortgage, then Boynton Beach HARP mortgage loans is for you. If you require further information, or if you would like to contact an expert about Boynton Beach HARP mortgage loans, please call us at (877) 442-4023 or complete 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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