Article Side

Online Article Directory!

Hello Guest! Login or Register to submit articles!

Safe and Secure HARP Streamline Refinance Rates

By Dewittwalkins Subscribe to RSS | May 15th 2012 | Views:

The helpful initiative taken from the side of Federal Housing Financial Agency, USA to financially support the underwater homeowners was the formation of Home Affordable Refinance Program (HARP). The two important organizations associated with HARP mortgage refinance are the Federal National Mortgage Association (Fannie Mae) and Federal Home Loan Mortgage Corporation (Freddie Mac). Here the homeowners active on their regular mortgage payments are backed by this financial program.

There are some criteria imposed by the US Federal Housing Financial Agency in order to apply for HARP. The authorization and approval of Fannie Mae and Freddie Mac are the first qualifying point to avail the same. Also there should not have any previous application made for availing this mortgage refinance. Regarding the start date of your loan, it should ensure that it was started before 1st June 2009. The loan-to-value ratio of the property must be above 80% according to the parameters. While applying the refinance, you should not be made any single monthly shortage of payment in the last 12 consecutive months. This shows your credit worthiness and the reliability to apply for the HARP streamline refinance to approve your eligibility.

In the case of HARP, there will not be any mortgage replacement measures possible for the homeowners to avail any usual mortgage refinances. The attempt to think of a short sale can be a huge mistake to experience the losses. Unlike other loans, here is no certain limit on the loan amount which enables the homeowner to decide his refinance value and structure. The interest rate varies according to the loan amount positively in order to cover the risk factor and the tenure of loan varies from 10 to 30 years normally. But here the Home Affordable Refinance Program Rates has got a ceiling at a particular level which is comparatively the lowest range than the other mortgages. In the case of couples who are in the edge of legal separation, the flexibility to change the borrower from husband to wife or vice versa can be done while availing the HARP refinance. The necessary information on the job and your earnings should be officially handed over to the authority.

It is a wise thinking to choose an optimum refinance loan amount in order to avoid much lengthy interest paying period and long run financial burdens. The future income addition can be a useful option for you if you are able to avoid paying higher interests & longer monthly installments. Easy HARP Refinance is an authorized professional lender dealing in the Home Affordable Refinance Program Refinance with a reasonable market rates. You may be assisted by them on the current mortgage rates by requesting for a free quote on their website. Lead your future to a safe and secure way.

This Content is Taken From this Website:

Dewittwalkins - About Author:
HARP loan refinance program is a refinance program available to borrower's whose mortgages are owned by Fannie Mae or Freddie Mac. The HARP program was initially introduced in 2010. Want to know more information about harp interest rates and harp streamline please visit our website.

Share on Facebook Tweet It Stumbleupon this post This post is delicious !

Article Source:

Related Mortgage Articles Subscribe to RSS

Bad credit and mortgage refinance option
Published by Kam Brar on December 16th 2011 | Finance
As people think, it is not easy to get mortgage refinance with bad credit. There are various factors...
All you need to know about affordable home refinance loans
Published by Apil Gupta on June 24th 2012 | Mortgage
In the present scenario, having a healthy credit score is certainly a utopian situation, more so aft...
Looking for refinance mortgage loan - How to find the right one
Published by Apil Gupta on June 24th 2012 | Mortgage
In case you are looking to refinance mortgage loan for your home, there are many things that need co...
Versatile Repayment Options of San Diego Loans
Published by Frank Joseph on August 23rd 2012 | Mortgage
Most lenders perform background check and credit check to determine in the event the borrower can ac...
Unique Methods with San Diego Lenders
Published by Frank Joseph on August 23rd 2012 | Mortgage
San Diego lenders can supply with buyers distinctive alternatives. They will even customize them to ...
Tips and Hints in Getting Loans in San Diego
Published by Frank Joseph on August 23rd 2012 | Mortgage
Quite a few people today have located remedy to their economic troubles by means of loans in San Die...
Mortgage Loan Firms GA: Delivering a Quicker Route to Home Acquisition
Published by Avrilcopperfield on August 17th 2012 | Mortgage
Although it may take some months or years to save up money for a brand-new auto in Georgia, it's sti...
Survey shows new financial policies still unknown to Canadians
Published by Reyan Hunt on August 13th 2012 | Mortgage
Mortgage rules in Canada have changed but it is not known to half of the Canadians. This report was ...
Great structural design and implementation in the home building front
Published by Rkweb on August 8th 2012 | Mortgage
A whole lot of construction work is needed when you go for building a mega structure, be it a home o...