Is A HARP loan a good choice for me?
Do you owe more on your home than it’s worth? Have you been making timely monthly payments but have still been turned down for a refinance mortgage at a lower rate because your home has depreciated in value? Are you struggling to make your mortgage payments? Want to move from an ARM to a fixed rate mortgage but do not qualify under conventional loan refinancing underwriting guidelines? Even if your lender has turned you down for traditional home refinancing because your loan to value ratio is above the accepted maximum, you may have option such as a HARP loan. There’s no need to suffer under the oppression of mortgage payments that are higher than you can reasonably afford to spend, given the current market value of your property.
Do I need a mortgage broker to apply for a HARP loan?
There are several advantages to having a mortgage broker help you with your HARP loan. A big reason is that they have access to multiple lenders. If you find that you do not meet a particular criteria or restriction, your mortgage broker can submit your loan application to other lenders who offer more flexible HARP guidelines. It’s extremely important that you take advantage of the opportunity you have to look around for the best rate and options because something else many homeowners do not know is this:
You can only refinance your loan under the HARP loan program ONE time.
If you do not invest the time and energy it takes to find the best rate (or have a qualified mortgage professional invest the time for you) you could end up stuck with a new mortgage than will costs you thousands more than necessary. The right mortgage company can help you find and secure the lowest possible rate and lowest closing costs. Your current lender has no reason to offer these advantages to you, as they assume you will apply for your HARP refinancing loan with them anyway. A mortgage broker is that you will have the opportunity to take advantage of wholesale rates that you cannot find with a traditional bank.
Call 509-926-1755 or 800-469-0409 to speak with one of our licensed mortgage professionals or complete the quick apply form now.