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The Home Affordable Refinance Program (HARP) was created by the Federal Housing Finance Agency in March 2009 to allow those with a loan-to-value ratio exceeding 80% to refinance without also paying for mortgage insurance. Originally, only those with an LTV of 105% could qualify.
If you have an FHA, VA, or USDA home loan, a streamline refinance mortgage could lower your fees and get it done faster. ... non-government mortgage. Meet the program’s requirements: ...
The FHA streamline refinance program makes it easier and cheaper for borrowers who have a Federal Housing Administration-insured mortgage to refinance their loans at lower rates. FHA streamline ...
The up front mortgage insurance premium or UFMIP the FHA charges is due at closing. The FHA UFMIP is partially refunded if the borrower refinances through the FHA streamline refinance program. This can lead people to refinance with the FHA to avoid refinancing costs, though better deals may be available on the open market.
If you're considering refinancing your government-backed or conventional mortgage, a government-backed refinance could be a good choice. These loans, guaranteed by agencies like the FHA, VA and ...
The Homeowners Affordability and Stability Plan is a U.S. program announced on February 18, 2009, by U.S. President Barack Obama.According to the US Treasury Department, it is a $75 billion program to help up to nine million homeowners avoid foreclosure, which was supplemented by $200 billion in additional funding for Fannie Mae and Freddie Mac to purchase and more easily refinance mortgages. [1]
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