Latest Post: Could This Program Help Save Homeowners Thousands?

HARP is a government program offering homeowners up to $355/month and there is no cost & no obligation to see if you qualify.

A forgotten stimulus program that was passed by Obama to help middle-class Americans reduce their annual mortgage payments by as much as $4,264 each year is expiring soon. 

So far, more than 3.4 million people have benefited from HARP and have saved up to thousands of dollars on their mortgage payments. HARP can be a life changer for many home owners.

It has been announced that this program will expire in the next few months and is making a final push urging homeowners to take advantage of this program.

If lowering your payments, paying off your mortgage faster or  even taking some cash out would help you, it is vital you act now.

Note: If you're a US Citizen or Resident and owe less than $750K on your mortgage, you are likely to qualify! 


Who Is Eligible for the HARP Program?

Before applying for the HARP refinance loan program, it is important to determine if you meet the  requirements. The good news is that the financial criteria for HARP qualification are very flexible.

Homeowners must be current on their existing mortgage. Additionally, you must be able to show at least one year’s worth of timely payments. Homeowners must have paid their mortgage on time in the past 6 months.

HARP loans are available for primary residences, second homes, and investment properties.

  • You must owe less than $1,000,000 on your current mortgage.
  • You must have a mortgage, unfortunately it does not apply to homeowners who have paid off their home.
  • You must have taken out your mortgage in the last 20 years.

What Are the Benefits of a HARP Loan?

HARP loans offer home owners several benefits.

No mortgage insurance. Many home owners discover that refinancing will require them to pay costly mortgage insurance, which protects lenders from an owner’s default. With a HARP loan you are not required to pay mortgage insurance, even if you owe significantly more than your house is worth.

Much lower monthly payments, by up to $355/mo ($4,264/Yr). With favourable  terms, most homeowners save thousands per year

More flexible underwriting requirements.

To make the program accessible to more people, HARP underwriting guidelines are significantly more lenient than those of traditional refinance loans. This means that borrowers with less than stellar credit or a high loan-to-value ratio are eligible.

Almost zero closing costs.

Closing costs are capped, which makes the HARP loan an attractive option for homeowners who qualify.

No appraisal.

In many cases, there is no appraisal requirement. Skipping the appraisal saves home owners both time and money.

Better mortgage terms.

HARP loans offer more attractive mortgage conditions, such as lower interest rates and shorter loan terms.

If you are struggling to get by, a HARP loan could help you avoid foreclosure. Although the federal government has extended the program once already, it has made no announcements regarding an additional extension. If you meet the program’s criteria, it is important to submit your application before the December 31, 2018 deadline.