HARP Loan Refinancing
The Federal Government has issued a new program in which homeowners who owe more than their home's value can now refinance their loans. Designed to help homeowners take advantage of lower rates, this program now opens doors for those with good credit, and a good credit history to apply to refinance.
For details on Harp Loan refinancing call Lori Hawkins at (916) 371-6300.
The Home Affordable Refinance Program (HARP) issued by the federal government assists homeowners in refinancing their mortgages. Mortgages must be backed by Freddie Mac or Fannie Mae in order for homeowners to qualify.
In a climate where homeowners have refinanced at rock bottom rates, those with homes that have decreased in value haven't had many options for refinancing. Especially when they haven't any equity in their homes. But the HARP program creates a way for homeowners with or without equity to qualify for a home refinance when they are "upside down" on their mortgages.
Not sure if your loan is guaranteed by Freddie Mac or Fannie Mae? Contact us on (916) 371-6300 and we'll check your loan for you.
Qualifying for HARP
Wondering if you qualify for the HARP program? Here are a few guidelines...
- The mortgage MUST be owned or guaranteed by Fannie Mae or Freddie Mac.
- The mortgage MUST have been sold to Fannie Mae or Freddie Mac on or before May 31, 2009.
- The mortgage CANNOT have been refinanced under HARP previously unless it is a Fannie Mae loan that was refinanced under HARP from March-May, 2009.
- The current loan-to-value (LTV) ratio MUST be greater than 80%
- The borrower MUST be current on the mortgage at the time of the refinance, with no late payment in the past six months and no more than one late payment in the past 12 months.
- You have a reasonable ability to pay the new mortgage payments.
- The refinance improves the long term affordability or stability of your loan.
How do I apply for HARP?
Applying for HARP is as simple as contacting our mortgage office in West Sacramento. We'll first ask to see your current mortgage statement to determine if your loan is backed by Freddie Mac or Fannie Mae.
Then, we'll have you fill out a loan application that will give us all of the information that we need to determine if you qualify for the loan. Refinancing through a HARP loan takes the same process as any refinance, and we'll need to pull your credit history, current income, past payment history, etc. Begin gathering tax statements and pay stubs for the process.
As loan specialists who perform HARP loans, we'll walk you through each step of the process.
Lori and team answered all of our questions, got us the best possible rate, and were professional. We are very happy with their service and would not hesitate to use them again.
Lori and her team were phenomenal in all areas!! Loved our communication, loved the rate that we got locked, everything was sooo easy peasy!! All little challenges with swiftly navigated; I honestly can not say enough about how much I enjoyed having Lori and her team be my loan pros for my refi. I shopped around; and hands down she gave me the best deal I could have ever found! The best part is she is part of my awesome community, and it was great to work with that I know and admire in my community!
We have now completed two new loans and two refinances with Lori. She is always on top of her game, providing numerous options to help us determine what will best work for our situation. Lori is responsive, attentive, helpful, and patient. Thank you as always for your help and service, Lori! 2020 update: Lori is responsive, professional, and efficient. Our latest mortgage with Lori (a refinance) was remarkably easy to close.
Lori and her provide world class service throughout the loan process. They were ready and willing to answer any questions throughout the process and provided daily updates.
SUPER EASYsuper smooth transaction. Website for you to upload what you need. Lori almost knocked our APR in half. Also the price to refi was almost half of what we were charged on our last refi. Lori is so easy to work with. If you done a refi before you know how things can go.
Lori and her team were extremely professional, informative, and friendly. They walked me through every step of the process and answered all my questions, got everything done faster than I had thought possible. So happy with my decision and the results! Would recommend to everyone!
I purchased a home and completed a refinance with Lori, and she and her team make the process seamless. I will definitely call Lori for my future loan needs!
Lori and her team were patient and always answered my questions quickly. They took all the time I needed to feel comfortable every step of the process
Lori was amazing to work with. She was on top of everything and extremely helpful thorough this home buying process! She helped us do a 21 day close. I would recommend her to any one wanting to purchase a home.
From start to finish a great experience. The technology was very easy to navigate and the follow through was great. There was consistent communication throughout the process.