Refinancing using HARP
* Owe more than the house is worth? HARP allows negative equity refinance!
* Reduced income and credit requirements!.
* Get today’s low interest rates!
* Must currently have Fannie Mae or Freddie Mac loan.
Do you qualify? Find out now!
Submit your information for fast results, or call us now at 855- 2Trillion (855-287-4554)
– the Home Affordable Refinance Program was made available via federal funding for conventional loans. As discussed in a previous article on what is technically a conventional loan, HARP Requirements include the following criteria:
A Utah home mortgage must be serviced or guaranteed by Fannie Mae or Freddie Mac. To find out if you qualify, call us at 855-2TRILLION OR fill out the “Get a Quote” section and we will contact you with our results.
1. The current loan to value must be greater than 80%.
2. The borrower must be current on the mortgage at the time of the refinance with no late payments (Past 30 days late) in the past six months and no more than one late payment in the prior 12 month period.
3. Have a reasonable ability to pay the new mortgage payments.
Many Utah home owners would benefit greatly by taking advantage of the current federally funded conventional mortgage programs but do not. National studies show that most homeowners who qualify for today’s low rates using the HARP program do not take advantage of the opportunities despite the fact that rates have been low for some time. Currently it is estimated that only 10% of those qualifying for this special refinance program are taking advantage of it. A top reason many homeowners pass up the refinance opportunity comes from the homeowner assuming they will not qualify for the refinance due to employment situations, being upside down in the home, or due to increased debt to income ratio’s. The fact is that that home values throughout the state of Utah dropped, and large numbers of Utah homeowners had already tapped their equity prior to the housing crisis. Add to this that most of seen a reduction in income and it is easy to assume that refinancing to today’s rates is simply not possible. This is where the HARP program for conventional loans come in to play. There are now options for refinancing Utah mortgages that would not qualify in the past. So what is HARP all about? Its about rewarding those who have paid their mortgages on time but did not qualify due to the before mentioned problems- yet could not modify the mortgage because they were paying their mortgage payments on time.
Getting all the details on the HARP program may prove to be very advantageous. Most consumers save tens of thousands of dollars in payments and interest during the term of the loan, and the current low interest rates are unlikely to remain this low for forever. Further, the HARP program will expire December 31st 2013. Trillion Mortgage and refinance you’re qualifying HARP loan and provide you with many benefits.
Trillion Mortgage Benefits:
Some mortgage servicers claim they are not participating in the HARP program. While they are required to if they are servicing a Fannie Mae or Freddie Mac loan you are much better off using a mortgage company that is eager to service your needs. At Trillion Mortgage, we only make money if we successfully refinance your HARP qualifying mortgage. We do not participate in the higher interest rate income your current lender is getting.
Trillion Mortgage interest rates are typically ¼% better than the competition. This includes competition from credit unions and banks. For proof- get a loan quote now and we will compare the savings and costs of the mortgage side by side with any other lender.
Professional staff. It is important to know that those working with you on your finance are amongst the most professional and knowledgeable mortgage professionals in the state of Utah. You can rely on Trillion Mortgage’s undying commitment to excellence.
Don’t be a “90 percenter”. Take advance of of the HARP terms today.