Pembroke Pines HARP Refinance

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Let’s say you’ve never been late with your home loan installments but for some reason there isn’t anyone who wants to allow your home to be refinanced due to its declined value? Well, there is a way to refinance mortgage your residence faster and more effective than previously available. Welcome HARP, also known as the Home Affordable Refinance Program. So what precisely is a Pembroke Pines HARP refinance?

Its Purpose

Created in March 2009, Pembroke Pines HARP refinance aims to be able to provide refinancing to home owners which owned homes that dropped in value. The purpose of this was to prevent the United States housing bubble of 2006. This program however was designed solely for home owners who are not behind their home loan installments, but instead have been making timely payments towards paying their home loan down.

Who’s Eligible for HARP

Same as other government program, Pembroke Pines HARP has a lot of basic requirements. Take a look at some:

Only mortgages backed by either Fannie Mae or Freddie Mac are covered by HARP.
Home Loans are required to be funded before May 31, 2009.
Home owners must not have been delinquent on any mortgage loan payments, 6 months prior applying for Pembroke Pines HARP refinance mortgage.
The home’s Loan To Value (LTV) ratio must be at least 80%

In order to qualify there must be some type benefit to the client in terms of their home loan payments or stability in mortgage.

How do homewoners benefit from HARP?

The Pembroke Pines HARP refinance mortgage has many measurable benefits. One example would be, if you currently have a $150,000 mortgage on a now $120,000 residence, you can have your home loan remortgaged. As such, you pay off the Pembroke Pines home loan faster than before. In addition, the monthly mortgage payments you apply will likely be smaller than you are currently paying.

If your home dropped in property value and you would like to refinance your mortgage, then Pembroke Pines HARP refinance mortgage is for you. If you require additional information, or if you would like to contact an expert about Pembroke Pines HARP mortgage loans, please 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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