Colorado Making Home Affordable Refinance
It is rumored that changes are coming soon to the Making Home Affordable Refinance program.
Among the changes are:
– No appraisal required.
– No restrictions on loan-to-value.
– No income or asset documentation required.
We will be notifying home owners once the program changes are officially announced in mid-November. Please fill out the quick quote form on the right or email us so we know to contact you once details are released!
The Making Home Affordable Refinance will allow you to refinance into a lower mortgage rate with looser underwriting standards. The Making Home Affordable Refinance is designed mainly for individuals who have lost equity in their home and are unable to obtain a traditional refinance loan.
Here are a few highlights of the Making Home Affordable Refinance:
– Finance up to 125% of the value of your home, and if you have a second mortgage, the percentage is unlimited (1st mortgage cannot exceed 125%).
– Must be current on your mortgage
– If you do not have mortgage insurance currently, you will not have mortgage insurance on the refinance, even if you are over 80% of your home's value
– Your loan must be serviced by Fannie Mae or Freddie Mac
Does Freddie Mac Own Your Mortgage?
Take advantage of this program to secure a Low Fixed Mortgage Rate today!
Check out our new HARP Refinance website!
To get started, click the FREE Refinance Analysis Tool Below:
If you have a Making Home Affordable Refinance question that you cannot find an answer for on our website, don’t hesitate to use our FREE Ask an Expert feature.