HARP Refinance – Are You Eligible?


In the aftermath of the crash in the mid- to-late 2000’s, the government introduced the Making Homes Affordable initiative to provide relief to certain homeowners with conventional or FHA loans through the Home Affordable Refinance Program, or HARP.

With rates at three-year lows, you owe it to yourself to see if refinancing will make a differenceExisting loans had to have been made by May 31, 2009 to be eligible for the program, and owned by either FannieMae or FreddieMac.  So, while Colonial services your loan, it’s typically owned by a third party investor.  You can check the ownership of your loan and your eligibility at the following websites.

If you are eligible, you may be able to take advantage of a streamlined process to refinance that requires very little in the way of documentation or qualifying, and may NOT require the expense or process of an appraisal on your home!

Similar programs are offered by the FHA if you currently have an existing FHA loan, by the Department of Veterans Affairs for VA loans, and by the USDA for rural and agricultural loans.

Additionally, we offer other refinance programs for other investors including jumbo loans, and for other purposes, such as to take cash out of your equity in your current home.

With rates at three-year lows, you owe it to yourself to see if refinancing will make a difference. To discuss your eligibility to refinance, contact us by calling 800.937.6001, or click here for more information.

 

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