Miami HARP Refinance

apply-now-todayWhen home owners are unable to get refinancing through traditional means in spite of being on time with their mortgage payments, they usually apply for HARP. Harp stands for Home Affordable Refinance Program and this program is designed to help borrowers in getting a mortgage that is stable and affordable.

Requirements for Eligibility of Miami HARP Refinance

The eligibility criterion for Miami HARP Refinance includes the following clauses:
• The mortgage of the property must be owned by either Freddie Mac or Fannie Mae. If it is not owned by them, it must at least be guaranteed by them.
• The mortgages should have been sold to Freddie Mac or Fannie Mae before the 31st of May, 2009.
• Refinanced HARP mortgages are not eligible for further refinancing unless it is a loan by Fannie Mae that was refinanced between the months of March till May of the year 2009.
• The present Loan-To-Value (LTV) ratio should be greater than 80%. This means that the home value has decreased considerably as compared to the loan.
• Refinancing will only be done if the borrower is on time with all his payments. He also needs to have a good payment history of the past 12 months of the mortgage.
• The mortgaged property that is being considered for HARP should the primary residence, a second home or an investment property of the borrower.

Applying For a Miami HARP Refinance

In order to apply for a Miami HARP Refinance, you first need to submit an application for the refinancing. Once it is approved, the process can continue until the refinancing process is completed. However, in order to apply for a Harp Refinance, you will need to collect all your financial documents together that show a detailed account of your timely mortgage payments for the past year.

If you wish to apply for Miami HARP Refinance and require assistance from the professionals, contact us at (877) 442-4023 and First Nationwide Lending will help you in getting a refinance for your property.

First Nationwide Lending offers a variety of Miami mortgage loans, including, but not limited to: purchase mortgages, refinance loans, FHA home loans, USDA mortgages, jumbo mortgage loans, HARP 2.0 mortgages, VA loans, and reverse mortgages.

 

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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