Saint Petersburg HARP Refinance

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Apparently you’ve never been late with your mortgage loan payments but for some reason there isn’t anyone who is interested to refinance your home due to its reduction of value? Luckily, there are ways to take out a refinance mortgage on your residence easier and better than ever before. Welcome HARP, aka the Home Affordable Refinance Program. So what exactly is a Saint Petersburg HARP refinance loan?

Purpose of Saint Petersburg HARP Refinance

Launched back in March of 2009, Saint Petersburg HARP refinance aims to provide refinance mortgage loans to property owners whose home decrease in value. This was primarily created to prevent the U.S. housing bubble of 2006. However this program was designed exclusively for property owners who are current on their mortgage loan payments, but instead have been effectively paying their home loan off.

Who’s Eligible for a Saint Petersburg HARP Refinance

Just like other government program, Saint Petersburg HARP has many requirements. Here is a closer look at some:

Only home loans guaranteed by either Fannie Mae or Freddie Mac can be refinanced.
Home Mortgages are required to be closed and funded before May 31, 2009.
Property owners must not have been delinquent on any loan payments, 6 months prior applying for Saint Petersburg HARP refinance.
The home’s Loan To Value (LTV) ratio must be at least 80%

There must be some sort benefit to the homeowner regarding home loan payments or stability in mortgage.

How do homewoners benefit from HARP?

The 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 home loan remortgaged. In doing so, you pay the Saint Petersburg home loan quicker than before. In addition, the monthly loan payments you make will likely be much smaller than before.

If your residence has gone down in value and you want to do a refinance, then Saint Petersburg HARP mortgage loans is for you. If you require additional information, or would like to contact an expert about Saint Petersburg HARP refinances, 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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