What is a HARP Mortgage?
Is your current mortgage underwater? Discover how a HARP refinance can help you to refinance your loan and keep your home. What is a HARP mortgage? In response to the number of foreclosures after the housing bubble burst in 2008, the Federal Housing Finance Agency started the Home Affordable Refinance Program (HARP). This program was designed to help homeowners who are current on their mortgage payments but are unable to refinance since the amount owed on the loan is more than the value of their home, known as “underwater.” The HARP program is set to expire at the end of 2016 unless Congress intervenes, but that still leaves plenty of time for eligible homeowners to refinance their homes.
7 Ways Jumbo Mortgage Rates are Attractive for Buyers
There are many reasons you might want to consider a jumbo mortgage, and among the reasons for doing that are the great rates. Don't underestimate the importance of your interest rate, because it can make a significant difference in how much you pay for your jumbo loan. Not everyone wants to get a jumbo loan, of course, but for people who are buying property that needs a mortgage higher than $417,000, a jumbo loan is one of the few options they have.