Articol publicat in: Afaceri


The FHA which regulates the making home affordable program announced a few months back that the home affordable refinance program or HARP is being extended up to until the end of June 2012. By now everybody seems to be aware that the HARP has been primarily designed to provide mortgage assistance to homeowners whose home values have dwindled. By qualifying for a home refinance loan through the HARP, you could be able to avail loan amounts up to 125% of your home’s current market value.

Refinanceitt offers highly customized mortgage refinancing solutions to help borrowers in addressing their mortgage debt problems.

In order to get a HARP home mortgage refinance loan, you could be needed to navigate through a rigorous application as well as underwriting process which generates a lot of stress. In any case, you could be eligible for the HARP only if you could meet the below mentioned eligibility requirements.

  • Current mortgages need to be backed or guaranteed by either Freddie Mac or Fannie Mae.
  • FHA, VA and USDA loans may not be eligible to receive the benefits provided by HARP.
  • Applicants are required to be current on their existing monthly payments for the past 12 months and any mortgage payment default should not have exceeded a period of 30 days.
  • Borrowers need to owe more than their home’s present actual worth.
  • To qualify for federal home affordable refinancing, an additional requirement states that an applicant needs to demonstrate his ability to stay current on the new monthly installments.

There could be little doubt that if you are HARP qualified; refinancing could help you get affordable as well as stable long term monthly mortgage payments. But qualification criteria could be basically aimed for the purpose of providing guidance. You could no more about the procedural essentialities by contacting your mortgage servicer. Additionally, you could even obtain quotes from other lenders and compare them to get access to the lowest refinance rates at the most suitable terms.

Refinanceitt could actively assist you to navigate through the entire process of the making home affordable refinance program. This could reduce the rigors of the process and make your task less stressful as well as improve your chances of getting a HARP refinance home loan approval.