Think you’re ready to start the loan process? Don’t make a move until you’ve asked your lender these five questions.
The basic purpose of the new rules is to help make sure you — the borrower — can afford to repay your mortgage.
Here is a simple guide to help you understand this sometimes very confusing document.
When you get offers for HARP, do a quick search to learn more about the company behind the offer.
Today, 1 in 6 HARP refinances are for a second home or investment property.
Fannie Mae borrowers who have refinanced through the Home Affordable Refinance Program (HARP) have saved an average of $82 per week on their mortgage payments.
Vicki and Steve were able to refinance the entire loan amount, including associated closing costs, and are now saving $430 a month.
With mortgage rates remaining near historic lows, you may be able to save money on your monthly payments by refinancing — even if you a have second loan on your home.
Research and preparation won’t take all the worry out of applying for a home loan, but it will go a long way toward reducing your anxiety.
The next time you go back to the bank for a new mortgage loan, your lender may be asking you a few more personal questions.
The process to get “HARPed” is very similar to when you first purchased your home, so you’ll need to get your financials and mortgage documents ready.
Do you owe way more on your home than it’s worth? You can still refinance through HARP no matter how underwater you are.
The government’s Home Affordable Refinance Program (HARP) has undergone significant changes enabling more homeowners to refinance. But those changes may also have caused confusion.
As of August 2013, HARP has saved approximately 2.9 million homeowners as much as $12 billion a year on their mortgage interest payments.
Once you determine that HARP is for you, your next step should be to talk to a lender.