Home Affordable Refinance Program (HARP) in Denver

Home Affordable Refinance Program (HARP) in Denver

If traditional home refinancing hasn't worked for you, even though you've been keeping up with your mortgage payments, you may be eligible for refinancing through a HARP loan. US Mortgages offers HARP loans throughout Colorado. Learn more about the HARP loan, when the program terminates, who qualifies and how to get started applying for a HARP loan below.

What are HARP loans?

HARP loans refer to the Home Affordable Refinance Program, administered by the Federal Housing Finance Agency. The HARP program in Denver began in 2009 as a way for people with LTV above 80% to refinance without paying for private mortgage insurance. Refinancing with a HARP loan can make your mortgage more manageable, and bring increased financial stability to your life. Beyond avoiding paying high prices for costly mortgage insurance, HARP loans offer capped closing costs, and in many cases, no appraisal requirement. If you're one of millions of homeowners in Denver whose mortgage payments are becoming unmanageable, a HARP loan may help you avoid stress, debt, or even foreclosure.

When can you get HARP loans?

When the HARP program was first conceived, it was scheduled to end on December 31, 2016. However, the Federal Housing Agency extended the program to September 2017. The last time the Home Affordable Refinance Program in Denver will be available is September 2017, barring an extension from the current administration. If you're interested in cashing in on these hugely beneficial loans, it would be wise to see if you qualify today!

Who qualifies for HARP loans?

Even for homeowners who haven't qualified for more traditional refinancing in the past, the HARP loan program is designed to help. To be eligible, the value of the property must have fallen since it was purchased. Additionally, the homeowner must be underwater on their loan. Federal regulations of the program require that the mortgage must have been acquired by Fannie Mae or Freddie Mac before May 31, 2009. The homeowner seeking a HARP loan in Denver must be current on their mortgage payments with no more than one late payment in the last 12 months. Most importantly, a HARP mortgage in Denver is available only when it benefits the homeowner, just like all loans done by US Mortgages.

About US Mortgages

Since 1996, US Mortgages has been making home happen. Let us know how to get in touch with you, </about-us/contact-us-mortgages> or give us a call directly.

Pre-Qualify In Minutes, With No Impact To Your Credit Score

With just some basic information, you are on your way to your new Home. In most cases, our agents will call you in a few minutes to get things started. In some rare events it could be up to 24 hours. We always try to call between 8am and 5pm MST, so we don’t disturb you after hours. If you would prefer we did call outside those ours, please just add in a note and we will be happy to oblige.

Why should I get pre approved for my home loan or refinancing?

Home loan pre approval in Denver simplifies the loan process. Preapproval allows a lender to see a full 360 degree view of the borrower's financial situation, enabling us to advise borrowers on all home loan considerations. This helps us identify which loan we offer is the best fit for the borrower. Prequalification allows borrowers to pursue the loan that's best for them and their financial situation.

How can I get ready for home loan prequalification in Denver?

Excellent question! A great place to start is by understanding what lenders look at. For the most part, lenders look at 4 things. The first is your FICO credit score which includes your payment history, credit utilization and the length of your credit history. The second is your income with respect to your monthly housing costs. The third is the number of current loans you have and their status. The fourth and final thing lenders consider is the percentage of the cost of the home you're looking to purchase that you can put as a down payment. Get ready for prequalification by understanding your status in these areas and identifying what you can do to improve them before buying a home.

About US Mortgages

US Mortgages has been securing mortgage pre approval in Denver for over 20 years. Let us know how to reach out to you, or give us a call today.

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Pre-qualification means one of our mortgage specialists will contact you. This does not represent an offer to enter into a loan agreement. Loans subject to credit and property approval. Normal credit qualifications and other terms and conditions apply. Not all loan products or terms are available in all states.