Boynton Beach HARP Refinance

apply-now-today So you’ve always been great with your mortgage payments but for some reason there isn’t anyone who is interested to refinance your home due to its reduction of value? Well, there is a way to refinance your property faster and better than previously available. Meet HARP, aka the Home Affordable Refinance Program. So now you ask what exactly is a Boynton Beach HARP refinance?

The Purpose of HARP

Created back in March 2009, Boynton Beach HARP refinance aims to be able to provide refinancing to home owners whose home decrease in value. This was primarily created to prevent the United States of America’s housing bubble of 2006. This program however was designed solely for home owners who are not behind their mortgage payments, but instead have been effectively paying their home loan down.

Eligibility

Just like any other government program, Boynton Beach HARP refinance loans has a lot of basic requirements. Take a look at some: Only mortgages guaranteed by either Fannie Mae or Freddie Mac are covered by HARP. Home Loans are required to be funded before May 31, 2009. Property owners must not have defaulted on any home loan payments, 6 months prior applying for Boynton Beach HARP refinance mortgage. The LTV ratio must exceed 80% There has to be some benefit to the home owners regarding mortgage payments or stability in mortgage.

Who benefits from HARP?

The HARP refinance mortgage has many measurable benefits. One example would be, if you still have a $150,000 home loan balance on a now $120,000 property, you can have your mortgage remortgaged. In doing so, you pay the Boynton Beach mortgage faster than before. In addition, the monthly loan payments you apply will most likely be smaller than you are currently paying. If your residence has gone down in value and you would like to do a refinance, then Boynton Beach HARP mortgage loans is for you. If you require additional information, or would like to speak to an expert about Boynton Beach HARP refinances, 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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