Refinancing through harp program with low credit score

Actually, HARP does take scores into consideration as one of the qualifying factors. I have HARP loans that I had to rapid re-score the borrower to gain just a couple of extra points to get Freddie Mac to approve. 718 declined...723 Approved. Your lender may have additional overlays, but it could be the AUS (Automated Underwriting System) model as well.~ Bert Carpenter, The LoansA2z team of NOVA Home Loans ~ NMLS 40586 ~ www.LoansA2z.com ~ 888-889-9950

Hi Cathy. I think I can help you. I am a mortgage broker and I have a lot of different lenders that I work with and I do have lenders that do not go by your credit score for the HARP 2.0 program. Please call me tomorrow to discuss further. 201-962-3555 Michelle

YOU probably have a big bank lender?? THey do not want to do harps , they like the higher interest rate.. I do not have all of the bank overlays, and I have my own fannie/freddie underwriter that I am directly in contact with.. My email is yourloanpartnerforlife@live.com , if you want to email me your address, so i can see if you are fannie or freddie, and then you can put your fico number there. The only thing that harp is really interested in , is your income, and what type of employment you have linda or you can call at 602-330-1598

Most lenders I deal with want a 620 mid score.

hi there: As long as Fannie (DU) or Freddie (LP) automated engine when running your information receives an approval, we are fine with that. No minimun credit scores, no max ltv, no max dti....applies to primary, 2nds and investment properties. Mike (703 505 5300) lending nationwide.. NMLS 754875

HARP is a bit deceptive.. The program does state that there is no minimum score, however when your application is run through the automated systems, it looks at the complete profile and makes a decision based on that, so it really depends.. if they ran your application through DU or LP, and it was denied, then you will have to improve your score in order to participate. If they didn't, then you should get with a local mortgage broker.. Not your current servicer, and not your local "big bank".. the Broker has access to numerous lenders with varying programs, however, you will need to be approved through the automated underwriting system (DU/LP) first.. Then he needs to find a lender who does not have any additional guidelines which allow for lower scores.. The real question is how low is your score.. if it's in the 500's, you got some serious work to do.. if you're in the high 600's, then you're almost there... The best advice I can give you is to contact a LOCAL mortgage broker, not the local "Big" bank, and certainly not one of those 50 states internet lenders...By applying with your LOCAL Broker, you have an advantage because he's familiar with local customs and works with numerous lenders, seeking out the best loan terms for your particular scenario. Because he has lower overhead, he can offer you lower rates and lower fees than most of the larger lenders.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com