what are the requirements for a harp loan?

HARP Loans from Federated Mortgage – Under water? – HARP refinance loans require a loan application and underwriting process, and. You may be eligible for HARP if you meet ALL of the following criteria:.

Through HARP, homeowners that have loans owned by Fannie Mae or Freddie Mac on or before 5/31/09, and have been current on their mortgage payments,

The Home Affordable Refinance Program, or HARP, was a federal government initiative introduced in 2009 after the housing crisis to help struggling homeowners.It is no longer active. HARP’s purpose was to help mortgage borrowers who were underwater on their loans – meaning they owed more than what their house is worth – to refinance their mortgage.

conventional bankruptcy waiting period Waiting Period – Mortgage Included in Bankruptcy –  · There is an interesting guideline with a conventional fannie mae mortgage, where the waiting period to obtain new home financing is based on the bankruptcy discharge date, NOT the foreclosure date when mortgage is included in bankruptcy.

On a HARP loan, there is no maximum loan-to-value set by Fannie Mae or Freddie Mac. The exception is that Freddie sets a maximum loan-to-value of 105% when the new loan is an adjustable rate. Loan-to-Value, or LTV, is the proposed new loan compared to the property’s value.

but you have to demonstrate you are capable of paying your loan on time. To qualify, you have to meet very specific HARP eligibility requirements such as: Your loan is underwater. An “underwater”.

The HARP Program Guide – HARPguide.org – New programs are essentially an extension of HARP but with different names and slightly different requirements. Through new programs, homeowners can get a lower interest rate (which means less out-of-pocket costs each month), get a shorter loan term, or change from an adjustable to fixed-rate mortgage.

HARP 2.0 Eligibility and Qualifications – Mortgage Rates – So you made it to the end of the race: your mortgage is owned by Fannie Mae or Freddie Mac, you have a perfect or close to perfect payment history for your mortgage in the past twelve months, your payments are less than 20% more expensive than the prior amount or you re-qualified for a new HARP 2.0 loan.

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Welcome To The H.A.R.P. Program Website! – HARP is designed to help you get a new, more affordable, more stable mortgage. HARP refinance loans require a loan application and underwriting process. For more information about HARP eligibility and requirements, CLICK HERE

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HARP 2.0 Mortgage Refinance Loan Program Tips – These requirements are now removed. insurance on a loan does not block a refinance under harp 2.0 automatically. See the Bills.com resource mortgage insurance and HARP Refinance to learn more..

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