A Home Loan for People That Owe More Than
Their Property is Worth
Colorado Home Loan Specialist
Give me a call today and I'll be happy to answer any questions you may have on these new Colorado home loan programs
Chris Colburn
Innovative Lending
720-837-7044
The HARP Home Loan Option
One of the best Colorado home loan options that most people do not know about is called the HARP 2 Program.
The original Home Affordable Refinance Program was to help homeowners refinance at the historically low rates that have been in place for some time now.
HARP 2 is a modified or enhanced version of the original HARP (Home Affordable Refinance Program).
It is estimated that over 9 million homeowners are “underwater” on their home loans.
HARP was rolled out in 2009 and was intended to help those “underwater” homeowners whose loans were higher than the home was worth AND their loans were owned by Fannie Mae or Freddie Mac.
How does it all work?
These home loan options let “underwater” borrowers refinance up to 125 percent of their homes' current value.
For example, under HARP, if you owed $200,000 on a house that was now worth $160,000, you could qualify for a HARP refinance, because your loan was 125 percent of the home's value.
But if you owed more than 125 percent of the home's value you were simply out of luck; which is why they enhanced the original HARP into the new HARP 2, which was introduced to the market place on Dec 1, 2011.
Colorado Home Loan Options - Home Affordable Refinance Program 2
What are the major enhancements to the new HARP 2?
Mainly, that 125 percent loan-to-value limit has been ELIMINATED under HARP 2.
This elimination of the loan-to-value limit is the biggest change under HARP 2. But there are other quailfications that allow Coloradans to take advantage of these new home loan options.
This video shows a quick overview of HARP 2's guidelines...
Colorado Home Loan Options- We Can Answer Your HARP 2 Questions
Why not get your questions about HARP 2 answered... Absolutely free of charge.
If you owe more on your Colorado home loan than your home is currently worth, then HARP 2 is one of the best home loan options to refinance your home loan while mortgage rates are at record lows.
While these new program qualification guidelines can be confusing, I am a HARP 2 specialists...
And I can quickly show you how you can qualify to take advantage of the new government home loan options.
Simply give me a call today and I'll do a quick, no cost home loan analysis to see if your home loan can fit into the HARP 2 guidelines.
What do you have to lose? More Colorado home owners qualify for HARP 2 than they realize.
And the first step to see if your home loan can refinanced... Even if you owe more than your home is currently worth... Is to give me a call today.
The call is free...
Your home loan analysis is free...
And I'll show you all of the home loan options that exist for your particular situation.
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