Can I cash out up to 125% with Harp 2?
Joe Metzler (JoeMetzler)
#17 ranked lender in Minnesota - 4,848 contributions
Sorry NO. Cash out is NOT an option with the HARP program. Furthermore, you can NOT combine an existing first and second mortgage into one either. All you can do is refinance the existing first loan.
Bert Carpenter (BertCarpenter)
#37 ranked lender in Arizona - 2,431 contributions
HARP and HARP 2.0 are both "No Cash Out" programs. In today's lending arena, there are no lenders willing to advance additional cash on a mortgage with no equity. ~ Bert Carpenter, The LoansA2z team of NOVA Home Loans ~ NMLS 40586 ~ www.LoansA2z.com
Jean Andersen (Jean.Andersen)
#38 ranked lender in Georgia - 4 contributions
No you cannot. The program is for existing first mortgage to lower interest rate or term or both.
Melvin List (melvinlist)
#143 ranked lender in Florida - 124 contributions
No, HARP is designed to help homeowners reduce their term or payment. Cash out is not allowed with HARP 2.0.
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