You can also find additional HARP related news and information on our blog by clicking here.
HARP Refinancing
The Mortgage Doctor is pleased to offer HARP refinancing solutions to qualifying borrowers. The Federal Housing Finance Agency (FHFA) recently proposed changes to the Home Affordable Refinance Program in an effort to better assist the needs of more Colorado home owners. One of the biggest changes is that Fannie Mae has removed the maximum loan-to-value limit for Refi Plus loans. This update opened the doors to refinancing for millions of Americans who are currently underwater in their mortgages (owing more than their homes are currently worth).
Who is Eligible for a HARP Refinance in Colorado
To be eligible for a HARP refinance, homeowners must meet the following criteria:
- The loan 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 current loan-to-value (LTV) ratio must be greater than 80 percent.
- The borrower must be current on their mortgage payments with no late payments in the last six months and no more than one late payment in the last 12 months.
HARP Loan Highlights
- No maximum loan-to-value
- Down to a 620 FICO score
- Loans with current mortgage insurance are eligible
- Primary, investment, and second homes are eligible
- Eligible loans are Fannie Mae and Freddie Mac loans originated prior to May 31st 2009
How to Get Started with a HARP Loan
If you are interested in learning more about HARP refinancing programs in Colorado, please contact The Mortgage Doctor!
- Call (877) 299-5500 and speak with Steve personally.
- Complete the Quick Quote Form on the Right (please note that pricing information available through the pricing engine is not for HARP refi loans).
- Fill out the Contact Form below: