Looking for a HARP 2 refinance?

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First, what is a HARP 2 refinance?  HARP 2 is an "add-on" to a refinance program that started in 2011.  HARP 2 has created leeway in the refinance program for most conventional loans to refinance, even if the borrower and/or property do not qualify under some guidelines.  This "leeway" or flexibility is going to allow many more home owners who could not refinance before, to take advantage of the low mortgage rates and save some money on their refinance.  Not enough space to go into full details here, however, here are some guidelines:
1. An appraisal may not be required saving money and giving some homeowners the ability to refinance, even if their mortgage has a higher balance than the home is worth.
2. Lower than normal credit scores for qualifying guidelines, but a clean 6 to 12 month payment history on the mortgage is required.
3. Very flexible qualifying ratios for debt and payment to income.
4. Home loan must have been purchased by Fannie Mae or Freddie Mac prior to June 1 of 2009.

The first step is to find out if your mortgage is owned by Fannie Mae (FNMA) or Freddie Mac (FHLMC).  And even if you make your payments to a bank or service company, your mortgage may still be owned by FNMA or FHLMC.
      A. Fannie LookUp
      B.  Freddie LookUp
Once you get this clarified, then get your mortgage statement and call FAIRWAY at 717-431-9299.  We may be able to help you with a HARP 2 refinance.  More importantly, if we can't help you, we'll guide you accordingly.   For a HARP 2 lender in Lancaster and/or PA... call us at 717-431-9299.  Fully licensed Mortgage Banking Firm.