President Obama's HARP (Home Affordable Refinance Program) is now available.  If you currently have a mortgage owned by Fannie Mae or Freddie Mac, you may be eligible to lower your interest rate and payments with much more flexibility than before.  Even if your home has dropped in value, this program may work for you.  Here are some of the benefits of the program:

• Mulitple Property Eligibility - Primary residences, second homes and investment properties are eligible.
• Mortgage Insurance Flexibility - If you don't have mortgage insurance on your current loan, you will not have it on your new one - even if your home has dropped in value!
• Financed Closing Costs - With Fannie Mae, all of your closing costs can be financed.  With Freddie Mac, $2500 can - ask us about escrow advance for your financing also.
• Less Appraisal and Income Documentation - In some cases, an appraisal waiver is acceptable for your home which is less that a quarter of the cost of a full appraisal.  If employment history and stability has not changed significally from your last mortgage, a current paystub may be the only requirement.

To find out if your home is eligible, use these links:

Fannie Mae

Freddie Mac

• Apply Now