Before HARP2.0, what is the highest LTV I can get a Refinance for?
I would never reccomend missing a mortgage payment. On HARP 1.0 the maximum LTV is 125%. Your mortgage servicer might be able to go higher than 125% LTV. Your mortgage has to have been orginated prior to June of 2009 otherwise you won't qualify for HARP 1.0. In order to take advantage of HARP 1.0 your loan...

Can we get into a Home Loan with credit score of 612?
Franci, Unfortunately you won't be able to go conventional financing with a 612 score but an FHA loan is a good option. Do you know if 612 is your middle FICO score? If your middle score is higher you might be able to go conventional financing. Either way we should be able to get this done for you. Feel...

How can we find out if our current loan is Fannie or Freddie? Can Lender411 help?
You can certainly check yourself at the following link provided. This link is from the "Making Home Affordable govt. program" , it has Fannie and Freddie's phone number and websites to find out if your loan is owned by Fannie or Freddie. http://www.makinghomeaffordable...

Refinance To A 20- Or 30-Year Mortgage?
I would recommend a 30 yr. fixed rate mortgage but make a larger payment to have the loan paid off in 20 years. This way you have the flexibility of making a 30 yr. payment later when you retire or if your budget gets tight. However, you must be discliplined to make that larger payment every month. Perhaps you...

Need help with Ohio harp 2.0 lender BAC says I don't qualify due to lpmi
Yes, I would try and work with a mortgage broker who has access to several different mortgage banks to see if you can get this done. First, you will need to find a bank that will allow a transfer of mortgage insurance from your existing MI company. 2nd, you will need to find out if your LPMI will be converted...

Refinancing
Yes, this can be done but it will depend on your loan to value. Depending on when you took out your 2nd mortgage your loan may be considered a cash out loan. Cash out loans have a slight premium. If your home is in California we would love to help you out. Please contact us. 619 609-7006

If the harp program is backed by the government why are the mortgage companies able to set their own rules and not approve you
Good observation. Many banks have opted out of offering the HARP 2.0, eventhough it is backed through Fannie Mae and Freddie Mac. Fannie and Freddie are government sponsored enterprises, meaning they get govt assistance but they are for profit enterprises. My understanding is that if banks offer the...

40 year Fixed Can I Refinance with Harp 2?
I just checked with a couple lenders who are offering the HARP 2.0 and the LTV max is 105% with loan terms greater than 30 years < 40 yrs. You need to determine if your loan was originated before May of 2009. Contact my office if you need anything else. www.sandiegoloanpro.com...

Do I qualify for Harp 2?
Here are the guidelines for HARP 2. 1) Loan has to be owned by Fannie Mae or Freddie Mac. We would be happy to help you determine this or you can visit this link. http://www.makinghomeaffordable.gov/tools/does-fannie-or-freddie-own-your-loan/Pages/default.aspx 2) Your loan must have been sold to...

Cash out home loan 125% value
The LTV won't be an issue under the new HARP 2.0 assuming the following. 1) Fannie Mae or Freddie Mac owns your loan 2) Your loan was closed prior to May 2009 . However, under HARP 2.0 cash out is not accepted. Hope this helps. If you are in California and have any questions call me 619 609 7006

I am looking for Harp 2.0 lender in Georgia. I have been denied due to high LTV.
I can only lend in California but you should reach out to a Mortgage Broker who has access to several mortgage banks who can do the legwork and find a lender who can do a Freddie Harp 2.0 with unlimited LTV. Good Luck.

Do we need a special application for HARP2?
Hello. Your bank may or may not offer HARP 2.0 Refinance. The loan application should be the same, all lenders use the Uniform Residential Loan application also known as a 1003. There are a few eligibility requirements to qualify for this loan product. 1) your current loan had to have been originated...

CAN I REFINANCE FROM A CONVENTIONAL LOAN TO A FHA LOAN?
Yes, you can refi from conventional to FHA but I would do this as a last resort. FHA mortgage insurance premiums have just increased and you will definitely pay a premium for FHA compared to Conventional loans with mortgage insurance. If your credit is suffering or you need a non occupant co borrower to...

Is it true that I cannot obtain a loan for a home that the seller has owned for less than 90 days?
It is my experience that the "Anti Flip" is a rule or a policy that differs between lenders/banks. It's best to use a mortgage broker in this situation because he/she will be able to do the research for you and find a lender who doesn't have a problem with Flipped properties. Good...

refinance
It is my experience with all of our lender partners to request an HOA cert and or HOA questionnaire. I know one lender that sometimes doesn't require an HOA cert but they want a letter from the management company stating no litigation. It also depends on what kind of litigation issues are present...

do you have to be underwater to qualify for harp 2 ?
HI Jonathon. No you do not need to be underwater to qualify for HARP. I just did one last month and the borrower's loan to value was about 88%. To qualify for HARP you need to find out who owns your loan. If Fannie Mae and or Freddie Mac owns your loan then you may be eligible. You can call me and I can help you...

I was late on 1 mortgage payment 11 months ago, how long til i can qualify for a refinance?
This will only be an issue if it is more than 30 days late and is showing up on your credit report. Might be a good idea to pull a credit report and or have a mortgage professional pull your report to see how it is showing. If it is more than 30 days late then I would have a mortgage professional take your...

How much of the down payment can be gift? ANd how long does it have to age if any at all.
Excellent question. This depends on a few things. 1. Is this for a primary residence, second home, or rental property? Also depends on what the loan amount is. Lastly, depends on if you are buying a 1 unit property or multi unit. If the Loan to value is going to be 80% or less then all of the down payment can be...