Harp 2.o rates have two different pricing options. There are Harp 2.0 rates for primary residence and a Harp 2.0 rates for second home or investment homes.
Some lenders have then added extra overlays and charge an additional fee based on the borrowers fico score.
A few lenders charge the borrower based on the level of risk from the automated underwriting system. The higher the level of risk the higher the Harp 2.0 rates.
We recommend you use one of our lenders who do not have any additional pricing fees. What’s the drawback? Well on the Fannie Mae product we aren’t allowed to lock your loan until we have a loan approval.
Arizona Wholesale Mortgage Inc. offers the following loan products:
For more information go to our home page at www.azwm.com/harp-2-0-update.html and click on contact us.
We are a full service Phoenix mortgage broker not a banker. What’s the difference between a Phoenix mortgage broker and a bank? Well, we have the ability to shop your loan for the lowest interest rates. We don’t offer just one loan product. That means if your loan gets denied by a lender, than we can just switch your loan over to another lender for approval. We don’t have to call you up and say, “I’m sorry your loan was denied.” Instead, we have the ability to shop around to see which company can help you. We also have lower overhead. That means we can pass on our cost savings to our customers which thus allows you to obtain a lower home mortgage interest rate. Why pay a higher interest rate? When considering your next home mortgage loan, consider a Phoenix mortgage broker.