Quick Facts

  • Type of Loan: Non- Government Loan.  Must be owned by Fannie Mae & Freddie Mac to qualify. 
  • Loan Term:  10, 15, 20, 25 or 30 years.
  • Credit Score Requirements: 620 Middle Credit Score for all borrowers.
  • Down Payment Requirements: This is a conventional refinance program with no maximum Loan to Value limits.
  • Interest Rate: Fixed/ Adjustable
  • Private Mortgage Insurance:  Required, if  your existing conventional loan has mortgage insurance now.  Your existing mortgage insurance premium will be transferred to your new loan at closing.
  • Additional Facts: The HARP (Home Affordable Refinance Loan) Loan was designed by both Fannie Mae and Freddie Mac to help homeowners with conventional loans refinance, even though you  may owe more than the property is worth. In addition to having your loan owed by Fannie or Freddie, your loan would have to had been originated before June 1st, 2009. Loans originated after that date do not qualify for HARP. The underwriting process resembles that of any other conventional mortgage, except it some cases  allows for NO appraisal and higher debt to income ratios. The HARP program will be eliminated by the end of 2018…. call us today to see if you qualify for HARP !

Compare Loan Options | Our Products

Ready to take the next step? Apply Now or Get help from an expert.