HARP Loan Refinancing
The Federal Government has issued a new program in which homeowners who owe more than their home's value can now refinance their loans. Designed to help homeowners take advantage of lower rates, this program now opens doors for those with good credit, and a good credit history to apply to refinance.
For details on Harp Loan refinancing call Toni Taylor at 561-207-8049.
The Home Affordable Refinance Program (HARP) issued by the federal government assists homeowners in refinancing their mortgages. Mortgages must be backed by Freddie Mac or Fannie Mae in order for homeowners to qualify.
In a climate where homeowners have refinanced at rock bottom rates, those with homes that have decreased in value haven't had many options for refinancing. Especially when they haven't any equity in their homes. But the HARP program creates a way for homeowners with or without equity to qualify for a home refinance when they are "upside down" on their mortgages.
Not sure if your loan is guaranteed by Freddie Mac or Fannie Mae? Contact us on 561-207-8049 and we'll check your loan for you.
Qualifying for HARP
Wondering if you qualify for the HARP program? Here are a few guidelines...
- The mortgage MUST be owned or guaranteed by Fannie Mae or Freddie Mac.
- The mortgage MUST have been sold to Fannie Mae or Freddie Mac on or before May 31, 2009.
- The mortgage CANNOT have been refinanced under HARP previously unless it is a Fannie Mae loan that was refinanced under HARP from March-May, 2009.
- The current loan-to-value (LTV) ratio MUST be greater than 80%
- The borrower MUST be current on the mortgage at the time of the refinance, with no late payment in the past six months and no more than one late payment in the past 12 months.
- You have a reasonable ability to pay the new mortgage payments.
- The refinance improves the long term affordability or stability of your loan.
How do I apply for HARP?
Applying for HARP is as simple as contacting our mortgage office in Palm Beach Gardens. We'll first ask to see your current mortgage statement to determine if your loan is backed by Freddie Mac or Fannie Mae.
Then, we'll have you fill out a loan application that will give us all of the information that we need to determine if you qualify for the loan. Refinancing through a HARP loan takes the same process as any refinance, and we'll need to pull your credit history, current income, past payment history, etc. Begin gathering tax statements and pay stubs for the process.
As loan specialists who perform HARP loans, we'll walk you through each step of the process.
Toni and her team are simply the best, this is our 3rd mortgage using their service. Communication is excellent and they make it as painless as a mortgage can be.
Excellent Service and communication from start to finish. The cost and rate we were initially quoted was what we got. Easy to use portals for gathering information. Responses to questions were timely. Completely professional , I would highly recommend using them.
Team Taylor is a great group and a pleasure to work with, will definitely use again! Very organized team and made the paperwork simple and easy. I would recommend to anybody.
Toni and team were the consummate professionals in every sense and kept me connected and on target with all the loan requirements. They didn’t skip a beat, which was extremely important to me since the new home I was buying was contingent upon selling my existing home. They made every step of the way straight forward and stress free with their one-on-one updates and feedback. I would highly recommend them to anyone!
Tony was great through the whole process everything when I smooth as could possibly be expected. She was on top of everything and kept me well informed I would have no hesitation to use her again.
Everyone at Interconnect Mortgage was efficient, timely and very helpful throughout the process. This is my second transaction with them and I quickly remembered why I had returned, Thank you!
As painful as getting a mortgage has become, Toni was on top of all of the required docs, statements, letters etc required to acheive the final goal of closing on our property.
Toni and her team made my home buying experience very easy and simplified. I would definitely recommend her, and of course plan on using her for any future home buying.
I can honestly say that Toni is professional, a straight shooter, and all around just a very professional woman. She has proven her honestly and knowledge time and time again throughout this transaction. In my experience with Toni, her prompt and courteous service, and her keen attention to detail cannot be matched. Not many can boast 29 years of mortgage experience and that experience really showed while dealing with her. Thank you Toni
Toni took the time to make sure we understood everything that was going on and she was very helpful and made the process very easy and stress free!!!!