What is a HARP Loan? (Home Affordable Refinance Program)
A Harp loan is when you have little to know equity in your home or when your home is considered “underwater”; (when you owe more then the house is worth). A Harp loan also is also a loan which was a “conforming” or “conventional” loan owned by Fannie Mae or Freddie Mac and was taken out prior to June 1, 2009.
How do you know you qualify for a HARP loan?
In order to be approved for a HARP loan the loan must have been taken out prior to June 1, 2009. Borrowers must of remained current on the loan. No more than 1 30 day late payment in the last year.
Does a HARP loan require and appraisal?
Through HARP, you can get a lower interest rate, get a shorter term, or change from an adjustable to a fixed rate mortgage. Most HARP loans do not require an appraisal but it is still a full documentation loan, which means you will still need to qualify for the loan based on your provable income.
Are their Loan Limits?
There is no Loan to Value(LTV) limits on a HARP loan.
When does HARP expire?
AS of now the HARP program is set to end on December 31, 2018
Get qualified for a HARP loan:
If you are looking to see if you qualify for a HARP loan in Las Vegas, North Las Vegas, Henderson, Boulder City, Mesquite and Laughlin or anywhere in Nevada, contact Bruce Singer of Vision Home Mortgage at 702-217-5525 for more information, or simply fill out the form on this page.