Harp 2 update is explained here. Everyone has been asking what’s the update on HARP 2.0? Well, we are still waiting for the banks to get their technical team to update their system so they will be able to handle these new loans. In the past, you could only refinance your Harp 2.0 upside loan up to 125% loan to value with your current lender. Since November, many lenders have changed their harp 2.0 guidelines. You can now refinance your Harp 2.0 loan up to 125% loan to value with alot of lenders. You are no longer stuck with your current service provider. Why would one want to refinance with another lender? Well, most of the time if a deal seems to good be true, well it usually is. Alot of lenders will do a streamline loan with no documentation. It sounds great. Doesn’t it? You don’t have to gather up your W-2′s, bank statements, or paystubs. It’s pretty easy. So what’s the catch. Well they normally charge higher interest rates. Why? Well because they called you to lower your rate. They know you aren’t shopping around to find the lowest rate. Plus, then they tell you how easy the process is you are like oh well that sounds good to me. Most people don’t even realize that they are even paying a higher interest rate. If you could save .25 or more on your interest rate why wouldn’t you take 5 minutes out of your schedule to go gather up the required documentation? Just think of the monthly cost savings? It’s definitely worth your time.
For more information call us today at 602-358-8717 or click on the Contact US button which is located on our home page at www.azwm.com/harp-2-0-update.html
When considering your next Harp 2.0 loan, consider Arizona Wholesale Mortgage Inc. Experience does matter! We’ve been in business since 1998. We are now serving the state of Arizona and New Mexico.
Happy Holidays from Arizona Wholesale Mortgage Inc.!