Harp Qualified – Protect Your Hard Earned Money! Get It Now!
Harp Qualified : There comes a time in everybody’s love when one is faced with dire economic circumstances. These may manifest themselves in various ways, and, one often feels helpless when confronted with such circumstances. Now, possessing a home is one of the most prized possessions that we can ever think of. However, there comes a time unexpectedly, when we are forced to mortgage our homes due to some urgent pressing financial needs. That is very normal, and may happen to anybody, regardless of the economic circumstances that they may currently find themselves in. However, quite often, the home that is put up for mortgage often witnesses a decline in its valuation. As a result, procuring more money for further refinancing can be a really daunting task. Harp Qualified is a program that seeks to help people who need refinancing but have seen the value of their homes decline.
What Is Harp Qualified?
Harp Qualified is a program or loan scheme that helps you to refinance and reinvest into more affordable mortgages without any kind of additional mortgage insurance. In simple terms, if the home that you currently possess has little equity value, and, the amount of money that you owe is more than the current worth of your home, then this program is here to help you. Its really very important because under such circumstances, it can be very difficult to find a lender who would be willing to help you refinance. With the help of this scheme, you can get an interest at a lower rate, a loan for a short term period, and change the mortgage from an adjustable to a fixed rate one. In addition, you do not require to have any minimum credit score either. There is no doubt that this scheme carries the potential to solve all your economic problems.
How Can Harp Qualified Help You?
If you owe an amount that is equal to or greater than the combined value of your home, and if you own a mortgage that is owned by Fannie Mae or Freddie Mac, then that makes you eligible for refinancing through Harp Qualified. This program can help you in the following ways:-
- It will lower your monthly payment
- It will significantly reduce your interest rate
- Help you in securing a fixed rate mortgage that will remain constant forever
- It will help you to build equity at a faster rate
Are You Eligible For This Program?
There are certain conditions and requirements that you must fulfill before being considered eligible for this program. Meeting these conditions will entitle you to receive the benefits under the Harp Qualified scheme. The eligibility conditions have been mentioned below:-
- You should be current on your mortgage, with the condition that there have been no late payments in the last six months, and no more than one in the last six months
- The home that you currently possess should be your primary area of residence. You should be residing in that home for a certain period of time
- Your loan must be owned by Freddie Mac or Freddie Mae
- Your loan must have originated on or before the date 31 May 2009.
How To Begin Applying For This Program?
If you meet the above mentioned eligibility requirements, then you will be approved for refinancing your mortgage through Harp Qualified. You will subsequently go through an application, approval, and finally, the closing process, which will finally entitle you to get the benefits of this program. The steps that you need to follow have been mentioned below:-
- Gather all your basic and necessary financial details and other necessary information. These include mortgage statements and income details
- Get in touch with your mortgage company, and ask them to provide you the details that verify the current sources of your income
- Carefully go through the application, approval and closing process. This is will be determined by a Harp Qualified lender who will determine and decide your eligibility for the entire process.