Harp loan anyone?

[lukenick1]

Anyone ever get a harp loan for refinancing a home? Good or bad?

 

[rmscott71]

Hey lukenick1 -

I think they are good, but there are specific requirements you have to meet before you can even apply. Check out Harp 2.0 online (I think their site is an org) or Fannie Mae to find out all the qualifications.

 

[emilymad]

We just closed on our refinance through this program. We qualified and it was basically the only way we could refinance. We had some issues as the rules changed at the end of March. Our broker was a able to argue for us to be grandfathered in since we locked before the rule change.

 

[stitchlovestink]

Anyone ever get a harp loan for refinancing a home? Good or bad?

awesome program! only good thing Obama has done for people who made responsible choices when buying a home when the market was crazy!!! (i.e. fixed rate so you knew you could afford your payment indefinitely barring unforseen circumstances & not buying more than you truly could afford) when everyone else is getting their rate reduced basically for free because the bank just doesnt want another foreclosure on the books, it was really only fair to have a program for those who made responsible choices! We knocked 5 years off our loan & lowered our payment! our rate went to 3.875. no inspections, very little paperwork! well worth it IMO!!!


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