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Do HARP loans now apply to non owner occupied properties?

I was called to refinance a loan on an investment property with a HARP loan. This refinancing would save me over $500 per month. The rules were that non-owner occupied properties were not elligible for HARP loans. Has this changed? It seems too good to be true. JR
  • October 14 2010 - US
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Answers (6)

Best Answer

Wells your loan is likely owned by Freddie...

Guidelines: http://www.freddiemac.com/sell/factsheets/relief_refi_open_access.html
  • October 14 2010
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No Problem...You are not the first to be given bad info from a big lender!
  • October 14 2010
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Profile picture for abc_homeowner
The investment is in Texas.

Yes, my loan is owned by Freddie Mac.  Thank you for the link.
  • October 14 2010
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What state are you in?
  • October 14 2010
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My application for a HARP loan refi on my investment property was denied today because it is non-owner occupied. This was with Wells Fargo.

  • October 14 2010
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To my knowledge that was never a rule.  Investment properties are great under the HARP refi programs because they cap the points that can be collected at 2%.  On a non HARP 2+ family investor loan the LLPA's are 4%with less than 25% equity.  Investors under harp get a great deal in comparison.
  • October 14 2010
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