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Can you use HARP to refinance more than once?

Profile picture for mcy21
Due to divorce, the 15yr payment amount is too steep. Can I use HARP and refinance back to a 30yr loan?
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January 02 2011 - Massillon
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Answers (3)

Profile picture for Courtesy Mortgage
You can use HARP more than once if you own more than one property that is HARP eligible, but it can only be used once per property.

15 to 30 is certainly an available option in HARP, and you finance in your name only to remove the ex-spouse as long as the divorce is finalized.
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January 03 2011
HARP loans you can only do one time. AFter that you must fully credit qualify, income and assets, if ltv over 80 you will need MI as well.

IF you are buying out the spouse you may wish to look at FHA as an option as well.

Did you know that FHA loans are assumable? Also with FHA loans your future refi's can be done as a streamline with no appraisal.
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January 02 2011
Profile picture for CMG Financial
 It will depend on the amount owed and the value of the property.  You will also need to qualify with your credit, income and debt.  How do you owe and what is the property value?   
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January 02 2011
 

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Profile picture for Justin Sheftell
QuestionCan you use HARP to refinance more than once?
  • Latest answer by Justin Sheftell
  • January 03 2011
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