Cape Coral HARP Refinance

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So you have never been late with your mortgage loan payments but there isn’t anyone who wants to allow your home to be refinanced because of its declined value? Luckily, there is a way to refinance mortgage your residence faster and better than ever before. Meet HARP, also known as the Home Affordable Refinance Program. So what exactly is a Cape Coral HARP refinance?

The Purpose of HARP

Launched back in March 2009, Cape Coral HARP refinance aims to provide refinance mortgage loans to property owners which owned homes that dropped in value. The purpose of this was to counter the United States of America’s housing bubble of 2006. This program however was designed exclusively for property owners who are current on their mortgage loan payments, but rather have been effectively paying their mortgage loan off.

Who’s Eligible for HARP

Same as other government program, Cape Coral HARP refinance loans has a lot of basic requirements. Take a look at some:

Only mortgages backed by either Fannie Mae or Freddie Mac can be refinanced.
Home Loans are required to be applied for and acquired before May 31, 2009.
Home owners can’t have been delinquent on any mortgage loan payments, 6 months prior applying for Cape Coral HARP refinance.
The home’s Loan To Value (LTV) ratio must be in excess of 80%

There has to be some sort benefit to the client in regards to their home loan payments or stability in mortgage.

Who benefits from HARP?

The Cape Coral HARP refinance mortgage has many measurable benefits. One example would be, if you currently have a $150,000 home loan balance on a now $120,000 residence, you could have your mortgage remortgaged. As such, you pay the Cape Coral home loan quicker than before. Also, the monthly mortgage payments you apply will most likely be smaller than you are currently paying.

If your home has gone down in property value and you want to refinance your mortgage, then Cape Coral HARP refinance mortgage is for you. If you require additional information, or if you would like to contact an expert about Cape Coral HARP refinances, please call us at (877) 442-4023 or fill out our rate quote form.

 

 

Contact Us

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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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