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Are there any lenders that will do the HARP refinance?

Profile picture for hurleyr
Contributions: 4
I want to refinance my mortgage, but like most people I have home value problems.
My note is owned by Fanni Mae, can some one help me?
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October 19 - Gilbert
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Profile picture for BayviewMortgage
Contributions: 289
Zillow All-Star

Since August 2009

I just did one for a client. they are now putting the home in for a web based appraisal so they will only go up to 125% of the value.
If the loan sits in underwriting for 60 days . they do the value again. I had one drop 20% in just 60 days . The delays were the cause of the lender too.
the old streamlines use to use the original appraised value. your congress at work changed that.
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October 19
Profile picture for Courtesy Mortgage
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Since January 2009

Should be no problem to get 30 year loan.  You can go up to 125% of current value on the program.  I would not trust the Zillow value, so understand that any quotes you get will be subject to the appraisal value.

The program has pricing adjustment where you will get best terms at 95% of apprasial, then slightly worse 95-97, then again slightly worse at 97-105, then a bit more than slightly worse at 105-125.   Credit score is also a factor.

Have you tried posting a request in the Zillow Mortgage Marketplace tab?  That would be a good start to meet some lenders.  

I can tell you that both Gregorio and Nic on the Top Lenders list to your right are great sources to talk to, though I'm not sure if they are doing the over 105 loans, you would need to ask them.
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October 19
Profile picture for hurleyr
Contributions: 4

My current mortgage is for 350,000 at 6.3%. Zillow has it for 336,000. My current loan is 7/1 arm and I want to get a 30 year loan. The home is in Arizona.

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October 19
Profile picture for Courtesy Mortgage
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Since January 2009

You should have options in HARP.  Depends on your loan amount and current interest rate to determine if you will be able to benefit from the program.   The higher your current rate and current loan, the better the chance you can improve via HARP.
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October 19
Profile picture for hurleyr
Contributions: 4
I have a conventional loan, not paying mortgage insurance and according to
Zillow I am at 104%.
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October 19
Profile picture for California Mortgage
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Since August 2009

What do you currently owe on your home and what is your home currently valued at?

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October 19
Profile picture for Scobe
Contributions: 24
Zillow All-Star

Since November 2009

Gilbert, Here is the question's you need anwsered.  Are you in a Conventional or FHA currently? (Conv).  Are you paying Mortgage insurance on that Conv loan? (hopefully not). do you meet the 105% LTV (hope so).   

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October 19
 

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