You may be eligible to refinance, without paying down your principal or adding costly PMI, through the HARP program or Home Affordable Refinance Program if you are underwater on your mortgage as many are here in Ocala. The HARP program was created to offer home owners with underwater mortgages the chance to refinance to today’s lower rates, lacking any assessment! This system had been revised in March of 2012, so in the event that you attempted to refinance before that point without success, the parameters have actually changed and you’ll now meet the requirements. The program that is new now called HARP 2.0.
Eligibility Demands for HARP 2.0
There are lots of demands you have to satisfy to qualify for HARP 2.0 Refinance:
1). Your loan needs to be a loan that is conventional by Fannie Mae or Freddie Mac. You are not eligible for HARP, but may qualify for an FHA Streamline Refinance or VA Streamline Refinance if you have an FHA or VA loan. Läs mer