Finding The Right Harp 2.0 Lender For You

Finding The Right Harp 2.0 Lender For You
There are many Home Affordable Refinance Program 2.0 lenders in any state, city or county. Predominantly, the Harp 2.0 lenders are banks, mortgage lenders or mortgage brokers. Among the Harp refinance lenders you have in your city or county, any of the three types of Harp lenders can be the right one for you. It would depend on specific aspects of your case.

Before we look at the ways to understand who the best Harp 2.0 lenders are for you, here is a quick brief on the eligibility set out by most Harp refinance lenders.
The loan has to be owned or guaranteed by Fannie Mae or Freddie Mac.
The loan should have been sold to Fannie Mae or Freddie Mac prior to 1st June 2009.
Your mortgage has not been refinanced by Harp lenders in the past with a rare exception of having refinanced a Fannie Mae loan prior to 31st May 2009.
The loan to value (LTV) at the date of application or consultation should be higher than 80%.
These are not absolute terms of qualifying as Harp 2.0 lenders across the country may have other overlays or statutes mandating the approvability.

When you are looking at Harp refinance lenders, the first thing that you should have is a comparison website or a resource which can help you to assess various Harp lenders. A lender who is ideal for someone you know may not be ideal for you. Here are a few facts that you should bear in mind while analyzing the Harp 2.0 lenders.

Harp 2.0 lenders have been offered greater protection by Fannie and Freddie in case of loan defaults. This has increased the number of Harp 2.0 lenders who would be interested in offering you a mortgage.
Those looking for a refinancing plan for 15 years or 20 years can enjoy a significant cut on lender fees as per new provisions by which Fannie and Freddie have waived off the charge to lenders for high LTV loans. Hence look for a low lending fee.

Income requirements have been relaxed thus a lender that doesn’t have stringent criteria for qualification would be more desirable.

Whether you have a good credit score or not, you should ideally look for a lender that has generous credit score requirements. Many lenders have relaxed this criterion hence a low credit score is not an automatic disqualifier anymore.

Check if the Harp 2.0 lenders are offering a reduction in the monthly payment that you have been used to, if there are benefits in the loan such as an adjustable rate being converted to a fixed rate or a reduction in the interest rate and if there is a reduction in the repayment term.

For more information you can visit us at http://hypoteclending.com or http://mortgage-broker.co and contact us.

Getting The Best Deal For First Time Home Buyers In 2013

Getting The Best Deal For First Time Home Buyers In 2013
A first time home buyer would need to do a fair amount of research to know how the mortgage industry functions. There are too many fine details that every first time home buyer must know prior to deciding on any first time home buyer loan programs.

First time home buyer loans do not vary from what people would be getting as a refinancing option. They are very much the same but a homeowner who has already dealt with mortgage might know a thing or two more than what a first time home buyer would be aware of. While first time home buyer programs would vary from lender to lender, there are certain standard practices used by almost all brokers, agents or lenders themselves.

To ensure that you get the better of first time home buyer loans, you need to know how the rates of interest work. Every day lenders post their lending rates. These are known as posted prices and typically a lender would change it every morning. There may not be huge difference on a day to day basis but there can be a huge difference when a few days or a few weeks are taken into consideration. If a first time home buyer manages to get access to these posted prices then one can do a proper analysis of the best first time home buyer programs but such information is often not disclosed by agents or loan officers.

Most loan officers or agents would offer first time home buyer loans at rates that are either higher or lower than the posted prices. Quoting lower rates than posted prices is easy to understand since the broker or loan officer wishes to sell the plan to the first time home buyer and by the time the price is locked, posted prices would rise and the first time home buyer would end up paying a much higher rate than what was quoted. Thus, one fails to do a proper analysis if another lender would have been better without the information of posted prices.

With higher quotes as well, the posted prices are subjected to revision and even if the prices come down, the first time home buyer may still have to pay the higher rates as had been quoted.
To get the best first time home buyer programs, one should refer to comparison websites which offer information from various lenders. Such a resource would share the posted prices which can help a first time home buyer to make an informed and well assessed decision.

for more information you can go to http://hypoteclending.com or http://mortgage-broker.co and we will be glad to speak with you.

7 Ways To Find Unexploited Refinance Opportunities In 2013

Irrespective of how many months I have been paying off the present mortgage, I would refinance my home at any given time if there is a possibility of saving some money. It is perfectly natural to wonder how to refinance your home or when to refinance your home and almost every homeowner has a phase when he or she cannot decide for sure if refinancing is a good option or if there are enough ways to successfully refinance your home.
First, refinancing is always a good deal. If you think you would have to wait for a minimum period of time before you can refinance, you would lose the benefit of the principal payments that you have made, you have to start the repayment process all the way from scratch and you would rather be with your fixed rate than an adjustable rate, then all such perceptions are wrong. Refinancing will do none of the above damages that most people worry about.
Second, you may wonder how to refinance your home because you do not know for sure if you would be qualified or if you would have troubles. Here are 7 ways to find unexploited refinance opportunities in 2013 to help you get a new mortgage and to help you if you get rejected.
Many mortgage lenders have their own criteria for refinancing and these are often stricter than what the federal agencies have set. If you get rejected by a lender despite qualifying as per the underwriting standards of the federal agencies, simply choose another lender.
Your credit score may not always have a favorable graph. If there are remediable scenarios in your credit history then you can easily fix them and then apply for a refinancing. Credit scores are often wrong due to errors in reporting or by temporary balances on the credit card that are seen as warning signals by lenders. These can be fixed.
Mortgage lenders look at the debt to income ratio of an individual. If you have other small debts, settling them can entitle you for a refinance.
Often, applications are rejected due to faulty appraisal. You can choose a different lender and this problem can be quickly resolved.
Refinancing is not possible for homes that are valued at par with the loan amount that you would need. In such cases, paying some cash to bring down the required loan amount can easily enable you to opt for refinancing.
Moving from a fixed rate to another fixed rate may not be desirable for most but moving to an adjustable rate will be more rewarding. You should look for a lender who is offering you such a deal.
Lastly, check out a multi-lending comparison website where refinancing options from different lenders are put together for a comprehensive analysis. This will offer you more choices than you need.


For more information go to http://hypoteclending.com or http://uvscorp.com
or apply today at http://best-mortgage-rates.net

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