HARP Mortgage Refinance

by Architect from USA

Hi Kate, Regarding the HARP mortgage refinance (Home Affordable Refinance Program) how do the mortgage interest rates differ from conventional loan rates? Thank you, Architect from USA

Kate Answers: HARP Mortgage Refinance

Update: October 24, 2011: Sweeping Changes to Home Affordable Refinance Program (HARP)

Dear Architect from USA, Although the Making Home Affordable Program is part of the current Administration's strategy to stimulate the lagging real estate market and thus the economy, rates for the HARP mortgage refinance are set by individual lenders and can vary.

Who is the HARP mortgage refinance intended to serve? Many homeowners who make their monthly house payments on time are still not able to refinance to take advantage of sizzling hot mortgage rates usually due to a decrease in their local real estate market.

Please note that the homeowner's current mortgage must be a Fannie Mae or Freddie Mac loan to be eligible for a HARP mortgage refinance. So if you are interested in borrowing up to 125 percent of the value of your home, get in touch with your lender to check out your qualifications.

Don't have a lender? Six Steps to Comparing Mortgage Lenders will point you in the right direction.

I am also forming a lender directory for my Readers' convenience. If you have a favorite lender that you don't see here, pass the word onto them please. The mortgage lender directory is totally free to both lenders and Visitors to my website.

Here is an introduction to the directory, List of Mortgage Companies and the free sign up for lenders.

Even more! Please visit me at Home Affordable Refinance Program, a question and answer page about HARP and related subjects. Near the bottom of this page, I've added more information to help with refinancing. These pages are filled with secrets of the pros. Enjoy!

Best Wishes,

PS If you still have questions regarding HARP Mortgage Refinance, write me at Ask Kate where every question is a good question.

Finding HELP You Need For Refinancing

Refinancing Advice - Your opportunity to get down to earth refinance nuts and bolts from a mortgage insider.

Having trouble refinancing your mortgage due to fallen property values? Go to Special Edition Making Home Affordable Options, a Super Kate overview of available help.

Announcing Kate's Mortgage Information Planner - To save money, get your ducks in a row first.

Are you a homeowner trying to decide if Mortgage Refi is worth the cost?

How To Compare Mortgages - Interest rate, loan amounts, closing costs, cash out, length of term, monthly payments, yes it is enough to make anyone want to toss up their hands.

Real Estate Investor Loans - Three options for investors sandwiched between negative cash flow and plummeting real estate values.

Surprise, it's a barn! Is a Certificate Of Occupancy necessary for your home mortgage refinance?

Refinance With Cash Out - Where is my loan approval?

Save Money Using My Special Refinance Formula "I am a great believer in luck, and I find the harder I work that the more of it I have." --Stephen Leacock

Fresh Refinance Ideas - There are reasons why and why not to refinance promoted by the media, mortgage lenders and financial gurus. The fact is, only you can decide.

What can you do when Refinancing With Bad Credit threatens to derail your dreams?

You don't know it yet but the secrets I am about to share with you have never been explained anywhere else. Don't miss Ask Kate's Secrets To Refinancing!

Low Mortgage Payments For Home Owners - Before you decide on a company, learn how to ask questions and qualify your lender.

Don't be distracted by refinancing lingo. You just need my 10 best kept secrets to Low Mortgage Payments.

Ask Kate About Refinancing - Ask a question to get an answer from Kate.

Refi Stories - A collection of refinancing stories told to Kate by current homeowners.

Refi Ask and Answers - A collection of refinancing questions, each with a individual answer from Kate.

Home to Get Your Best Mortgage Rate from HARP Mortgage Refinance

Help Spread The Word

Please come back and visit often. Help me spread the word by sharing HARP Mortgage Refinance with your friends using these easy social bookmarking buttons. I depend on word of mouth!

The information you obtain at this site is not, nor is it intended to be, a substitute for financial, real estate or legal advice. You should consult an attorney, accountant, lender or real estate agent, as applicable, for advice regarding your individual situation. Comments and opinions found here are not necessarily those of Get-Your-Best-Mortgage-Rate.com

---

Comments for HARP Mortgage Rates by Anonymous

How about answering the question? What is the difference between HARP rates and regular refinance rates and why is it almost impossible to find the listed HARP rates?

Kate here. Here is a quote from the above article:

"...rates for the HARP mortgage refinance are set by individual lenders and can vary."

Or another way of saying it - Home Affordable Refinance Program (HARP) interest rates are not set by the government but are market driven. You may contact your mortgage lender and shop for comparisons.

Expect for HARP rates to be at least somewhat higher due to loan-to-value which influences mortgage rates in many programs.

Best wishes for your HARP refi and thanks for taking the time to comment, Kate