About Government Refinance and Home Purchase Programs

Information and Updates on Government Mortgage Programs
Filed under HARP Program Loans or The Obama Refinance Program, Upside Down (Underwater) Mortgage Programs

While most authorized lenders are still not fully participating in the HARP 2.0 program, a small but growing number of them on our list are. The early returns indicate that it remains easier to get a HARP 2.0 loan for Fannie Mae loans than for Freddie Mac loans. The same holds true for appraisals — the Fannie underwriting software is more likely to allow an appraisal waiver than the Freddie underwriting software. Nevertheless the program is fully operational now for both Fannie and Freddie conventional mortgages. The HARP 2.0 program is allowing refinances for underwater home mortgages regardless of loan to value ratios and it is allowing mortgage insurance to transfer. Those two things were not allowed with HARP 1.0.

Contact us in the sidebar today if you have a conventional mortgage that was originated prior to May of 2009. Odds are pretty good that your mortgage will be invested in behind the scenes by either Fannie or Freddie and if it is you could be a good candidate to significantly reduce your interest rate and monthly payments through the new HARP 2.0 program.

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