HARP 2.0 San Diego
The Home Affordable Refinance Program 2.0 (HARP 2.0) is a mortgage program backed by the US government designed to assist homeowners in refinancing their mortgages even if they have been disqualified in the past, have an adjustable-rate mortgage or owe more than the home’s current value. The majority of homeowners fail to take advantage of this government program despite their eligibility. If an individual is current on their mortgage, with or without equity, then then they are eligible for the program.
Should you apply for HARP 2.0?
This program might be ideal if any of the following apply to you:
- You can no longer pay for your mortgage
- You are having difficulty paying your mortgage
- The mortgage amount you owe is more than your home's value
- You are not qualified for a loan modification
- You applied for a refinance loan previously but did not qualify
- Your property's value has fallen
- You have an adjustable-rate mortgage (ARM mortgage)
Benefits of HARP 2.0
There are many benefits to the program based stemming from the fact that it allows borrowers to take advantage of the record low market rates. This means lower interest rates, smaller monthly payments, and a shorter and more stable loan term.
Do you qualify for HARP 2.0?
You are qualified for the program if the following criteria are met:
- You are current on your mortgage (None of your payments were over 30 days late in the last six months and no more than one payment was late in the last twelve months.)
- Your mortgage originated on or before May 31st, 2009
- Your mortgage is guaranteed or owned by Fannie May and Freddie Mac.
- The current loan-to-value (LTV) ratio is greater than 80%
American Financial Network, Inc. is not acting on behalf of or at the direction of the federal government, and this offer is not being made by an agency of the government.