HARP – Making Home Affordable Streamline Refinance

by Brian Berman on May 29, 2011

 

 

HARP or Streamline Refinance was created under the “Making Home Affordable” program administered by Fannie Mae and Freddie Mac.  Making Home Affordable offers strong options for homeowners to refinance into lower rate mortgages.

The number one objection to refinancing right now is people don’t think they can qualify for a lower payment.  HARP allows borrowers who are current on their loan to do a streamline refinance with minimal qualifications. 

Prior to HARP many borrowers had applied for loans and were turned down for various reasons.  HARP has fixed this problem and saved hundreds of thousands of people millions of dollars though refinancing.
Some of the features of HARP are:

  • You can refinance a first mortgage up to 125% of the appraised value
  • You may not be required to have an appraisal
  • Higher debt to income ratios
  • If you current loan does not have mortgage insurance, your new loan will not have mortgage insurance either.
  • Less documentation
  • No limit on second mortgages (Combined loan to value)
  • You do not have to go back to your current lender – you can shop for the best rates!

At Mortgage Atlanta, we pride ourselves on educating our clients on all of the best options to get the lowest possible rate.  For a home owner whose value has dropped a HARP refinance is often their best option.
Mortgage Atlanta offers a number of different types of mortgages under the HARP program; here are some examples:

  • Lower your interest rate /  payment
  • Convert from an ARM (adjustable rate mortgage) to a FIXED Rate Loan.
  • Convert from a 30 Year Loan to a 20, 15 or 10 year loan and save!
  • You can even refinance into an ARM for the lowest possible rates.
  • No Closing Costs loans
  • Low Closing Costs Loans

The first step in finding out if a HARP streamline refinance is right for you is to pick up the phone and call us today at  678-564-1522.

For HARP FAQ: Frequently Asked Questions CLICK HERE

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Mortgage Atlanta, LLC. 601 Woodlawn Dr,, Suite 340. Marietta GA 30067. Phone: 678-564-1522 info@mortgage-atlanta.com

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