Over the last few years many people have heard about the HARP program but detailed information on the HARP is hard to come by. The HARP program was designed for borrower’s whose loans were held by Fannie Mae (Freddie Mac also has a program with similar guidelines).
The huge benefit of HARP is that there is no appraisal required so borrower’s that have no equity or are underwater on their mortgages can still qualify.
There is no loan to value restrictions. Another benefit is that this loan can be closed very quickly.
Some important requirements for the loan are that the borrower’s must be the same as the current loan, borrower’s still must have qualifying credit, and borrower’s must show they can afford the new loan.
If you think the HARP program may be right for you please contact me today.
