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HOME AFFORDABLE Refinance Program - HARP 2.0

HARP Refinance MA

What is HARP?

HARP is an acronym that stands for Home Affordable Refinance Program. The program allows a home owner to refinance their mortgage even if they owe more than their home is worth.

There are approximately 7 million people expected to qualify under the expanded guidelines, let us help you determine if you're elgible.

We have Licensed Mortgage Originators ready to assist you in determining your eligibility.

Call Poli Mortgage Group at 781-801-1400

How can I check if my mortgage is eligible?

The HARP Refinance Program is open to homeowners with mortgages owned or guaranteed by Fannie Mae or Freddie Mac and obtained the mortgage prior to May 31, 2009. However, to be considered eligible the mortgage cannot have been refinanced since that time as well.

It is unlikely Fannie or Freddie will be listed on your mortgage statement but, you can check online.

Fannie and Freddie each have a “loan lookup tool” which allows homeowners to search and confirm their loan is with either of the agencies.

Be careful, the online Loan Look Up Tools from Fannie and Freddie occasionally give a "False Negative" and you may have an eligible loan, even if the tools says you do not! Call us 781-801-1400 and we can help you look up your loan.

If you would like to try checking for yourself you can use the tools below.

Check with Fannie Mae below or visit: http://www.fanniemae.com/loanlookup/

Check with Freddie Mac below or visit: https://ww3.freddiemac.com/corporate/

Mortgages not listed on either website may not be backed by Fannie or Freddie and, therefore, would not be HARP 2.0 eligible.

Mortgage Payment History

HARP requires that all homeowners have made their last six mortgage payments on time, with a maximum of one 30-day late payment in the past year. Your Poli Mortgage Group Loan Officer will be able to access accurate information from your credit report.

Documentation

Since HARP 2.0 mortgages are backed by the government – overseeing agencies, Fannie Mae and Freddie Mac, the underwriting process will resemble that of any other conventional mortgage. There will be loan disclosures to sign BUT much less supporting financial documentation to remit.

Mortgage Insurance

HARP is designed to help homeowners with or without private mortgage insurance (PMI). 

Poli Mortgage Group Loan Officers are ready to take your application to help you lower your monthly mortgage payment. The success of your refinance package moving quickly through our system will significantly increase if all your documentation and information requested by your Loan Officer is submitted immediately upon request.

Contact one of our experienced Loan Officers today at 781-801-1400 to learn more about the HARP Program.

Get a Jump on the process!

Minimum documentation requirements: Full to limited documentation.  In many cases, only bank statements and homeowner’s insurance are required.

W2’s may not be required for HARP 2.0.

If you're self-employed, you'll have to provide tax returns to verify your income.

Additional information may be required during the underwriting process.

Call Poli Mortgage Group, Inc. today, so you can take advantage of the HARP Refinance Program.

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Call Poli Mortgage Group: 781-801-1400

 

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