Tallahassee HARP Refinance

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Let’s say you have always been on time with your home loan installments but for some reason nobody is interested to refinance your home due to its declined value? Luckily, there is a way to refinance mortgage your residence easier and more effective than previously available. Welcome HARP, also known as the Home Affordable Refinance Program. So what exactly is a Tallahassee HARP refinance loan?

The Purpose of HARP

Launched in March 2009, Tallahassee HARP refinance hopes to be able to provide refinancing to property owners which owned homes that decreased significantly in value. This was primarily created to counter the U.S. housing burst bubble of 2006. This program however was created exclusively for property owners who are current on their home loan installments, but rather have been effectively paying their mortgage loan down.

Who’s Eligible for a Tallahassee HARP Refinance

Similar to any other government program, Tallahassee 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.
Mortgages must have been funded before May 31, 2009.
Home owners can’t have defaulted on any home loan payments, for the 6 months prior to requesting a Tallahassee HARP refinance.
The LTV ratio must be over 80%

There has to be some sort benefit to the client in terms of their mortgage payments or stability in mortgage.

How do you benefit?

The Tallahassee HARP refinance mortgage has many measurable benefits. For example, if you still have a $150,000 mortgage on a now $120,000 residence, you can have your mortgage remortgaged. In doing so, you pay off the Tallahassee mortgage quicker than before. Also, the monthly mortgage payments you make will likely be smaller than you are currently paying.

If your home has gone down in property value and you want to refinance it, then Tallahassee HARP mortgage loans is for you. If you require additional information, or if you would like to speak to an expert about Tallahassee HARP mortgages, please call us on (877) 442-4023 or complete 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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