If you have been searching for a lender that has NO restrictions on the HARP 2.0 program, you have found it!
Unlike most Banks and Mortgage companies, CMG Mortgage offers the complete HARP 2.0 program free of restrictions and credit overlay's.
Here is a comparison:
CMG offers some of the best rates for this program in the market and we do not charge higher rates based on LTV, Credit Scores or Approval Levels.
To see how much money you can save with a CMG HARP 2.0 Refinance CLICK HERE
Important HARP Loan Program Update:
On October 24, 2011, the Federal Housing Finance Agency announced that it is making a series of changes to the Home Affordable Refinance Program (HARP). The changes are intended to allow even more underwater homeowners refinance their homes under the HARP loan program. The biggest impact of these modifications is due to the elimination of the 125 LTV ceiling on HARP loans. What this means is that a homeowner can qualify regardless of how upside down they may be on their home.
The biggest changes to HARP are:
- The eliminating certain risk-based fees for borrowers who refinance into shorter-term mortgages and lowering fees for other borrowers;
- Removing the current 125 percent LTV ceiling for fixed-rate mortgages backed by Fannie Mae and Freddie Mac;
- Waiving certain representations and warranties that lenders commit to in making loans owned or guaranteed by Fannie Mae and Freddie Mac;
- Eliminating the need for a property appraisal where there is a reliable AVM (automated valuation model) and
- Extending the programs end date for the HARP loan program until Dec. 31, 2013 for loans originally sold to Fannie Mae or Freddie Mac before May 31, 2009.
Employment verification will still be required and the program will only apply to those who have either a Fannie Mae or Freddie Mac loan that has not been more than (30) days late in the last (12) and not in the previous (6) months. Those who have already refinanced with HARP are not eligible.
What you should keep in mind:
•It’s important to keep paying your mortgage.
•Lenders are not required to take part in the revamped program. So far, some of the major banks have stated they will likely particiapte including Bank of America and Wells Fargo. However, implementation may vary. Bank of America also states on their website that it will take approximately (75) days to notify you if you are approved and then go on to a typical closing process from there, apx. another (30) to (60) days from what we have been told. At CMG Mortgage, we can approve your HARP Streamline Refinance and close your transaction in as little as (30) days. This becomes very important as program guidelines are known to change over time as do interest rates.
•Assuming you qualify for the program, consider how long you plan to live in your home and when you plan to retire. Those factors could impact what’s financially best. Please call us at 602-492-8393 to see is HARP would be a good option for you.
HARP Mortgage Refinance Program
Are you currently upside down on you home loan? Have you tried in the past to get your Mortgage refinanced? Have you been told you can't qualify for a loan modification? Have the BIG banks made your life misreable when you tried to get some kind of payment relief? If so, we can help. The NEW HARP loan program has been enhanced to help those that could not be helped before! Let us help you save some real money on your mortgage payments.
HARP Mortgage Program Changes Announced
Let our team of Mortgage experts put our 50 yrs of experience to work for you! We have have helped thousands of borrowers refinance and save money on their monthly mortgage payments. We don't treat you like just a number like the BIG Banks do...We will treat you with the respect and dignity you deserve!
What is HARP
HARP is the Home Affordable Refinance Program. It was an initiative by the Obama Administration begun in 2009 to allow underwater homeowners to refinance their homes at today's low mortgage rates. The program is currently available through June 30, 2012.