The Home Affordable Refinance Program, can help eligible homeowners refinance their mortgage to obtain a lower rate, lower payment or more stable product (e.g., switching from an adjustable-rate to a fixed-rate mortgage).
If you have a consistent history of paying your existing mortgage on time, but have had challenges refinancing due to market conditions, then you may be able to take advantage of a lower mortgage rate or payment through this program. Please refer to the checklist below for eligibility requirements.
- I am current on my mortgage.
- My property is a single-family to a four family dwelling.
- This is my primary residence, second home or an investment property.
- I have an income to support the new monthly payments.
- I can obtain a lower interest rate, a lower monthly payment or a more stable loan product (e.g., switching from an adjustable-rate to a fixed-rate) by refinancing.
- I have not been able to qualify for a loan refinance previously because I owe more on my mortgage than the current value of my home.
- I understand that loan limits up to $417,000 ($729,750 in certain areas) apply.
- My loan must be owned by Fannie Mae or Freddie Mac.
If you have questions about the Home Affordable Refinance Program - or to discuss other home financing opportunities, feel free call or email me.
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