Harp 3.0 Home Affordability Refinance Program

HARP Home Affordibility Refinance ProgramRefinance

HARP 3.0 Home Affordability Refinance Program

HARP 3.0 Refinance

Home Affordable Refinance Program (HARP)

If you have not fallen behind on your mortgage payments and are unable to get a refinance loan from a traditional bank, you have the ability to refinance your mortgage with the new Homme Affordable Refinance Program (HARP) 3.0 program. HARP 3.0 will help you a more affordable and stable mortgage which you can afford. HARP 3.0 offers a unlimited loan to value, no income verification and historically low rates for every one with a mortgage.

The improvements made to the Home Affordability Refinance Program are now available in the HARP 3.0 refinance program. The HARP 3.0 Program has many enhancements that were not available in HARP 2.0. HARP 3.0 is currently in the process of being approved by Congress and the present administration has strongly supported the program. HARP 3.0 will allow homeowners to get their homes mortgage refinanced even when the the mortgage loan is higher than the value of the home. With the introduction of the HARP program in 2009, millions of home owners have been able to avoid losing their home to the banks.

HARP 3.0 Improvements

The HARP 2.0 program only allowed borrowers whose mortgage was insured by Fannie Mae/Freddie Mac or a Fannie Mae/Freddie Mac approved lender. HARP 3.0 allows any mortgage from any lender such private lenders, mortgage banks, jumbo loans, sub-prime mortgage and all other mortgage loans. Now, all mortgages can have the same refinancing options guaranteed by the Federal government.

HARP 3.0 has eliminated the requirement which allowed only loans that were sold to GSE before June 1, 2009. We can now refinance your home when ever you originally funded you mortgage and get you a historically low rate.

With HARP 2.0, Borrower could only use the program once but with HARP 3.0, borrowers can refinance their property many times and take advantage of lower rates than they have now.

With HARP 3.0, borrowers can have one 30 day late in the last six months prior to their application which is another improvement from HARP 2.0.

Even though HAPR 3.0 has some limitation, there is many improvement that allow more borrowers to take advantage of the historic low rates and simple loan process of the new Home Affordability Refinance Program.

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