Cape Coral HARP Refinance

apply-now-today

So you’ve always been on time with your mortgage loan payments but nobody is interested to allow your home to be refinanced due to its declined value? Luckily, there are ways to refinance your property easier and more effective than ever before. Welcome HARP, aka the Home Affordable Refinance Program. So what precisely is a Cape Coral HARP refinance?

The Purpose of HARP

Created in March 2009, Cape Coral HARP refinance hopes to be able to provide refinance mortgage loans to homeowners whose home dropped in value. This was primarily created to counter the U.S. housing burst bubble of 2006. However this program was implemented solely for homeowners who are current on their mortgage loan payments, but rather have been making timely payments towards paying their mortgage loan down.

Eligibility

Similar to other government program, Cape Coral HARP refinance has many requirements. Take a look at some:

Only mortgage loans backed by either FNMA or Freddie Mac are covered by HARP.
Home Mortgages are required to be applied for and acquired before May 31, 2009.
Property owners must not have defaulted on any mortgage loan payments, for the 6 months prior to requesting a Cape Coral HARP refinance loan.
The loan-to-value ratio must be over 80%

There has to be some benefit to the home owners regarding home loan payments or stability in mortgage.

How do you benefit?

The Cape Coral HARP refinance has multiple benefits. One example would be, if you currently have a $150,000 home loan balance on a now $120,000 property, you can have your loan refinanced. As such, you pay the Cape Coral home loan faster than before. Furthermore, the monthly loan payments you apply will likely be smaller than before.

If your residence dropped in value and you want to do a refinance, then Cape Coral HARP home loans is for you. If you are in need of additional information, or if you would like to contact an expert about Cape Coral HARP mortgages, feel free to call us at (877) 442-4023 or fill out our rate quote form.

 

 

Contact Us

map

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

Latest News