Home Loan Mortgage Specialists offers a variety of loan programs to fit your specific loan scenario. We work with many of the leading lenders in the industry to provide:
HARP Refinance
Key Benefits of HARP: -Qualify to refinance even if you’ve been denied in the past. -Your loan must be owned or backed by Fannie Mae or Freddie Mac -The U.S. government’s Home Affordable Refinance Program (HARP) is a great option for homeowners who have little or no equity, or owe more than their home is worth. -HARP’s relaxed qualification requirements and streamlined refinance process have made it possible for nearly 3.5 million Americans to take advantage of low rates since the program began in 2009. -Closing costs are often lower than you’d expect, and most scenarios do not require an appraisal. The current HARP program ends on Dec. 31, 2018 and is due to be replaced with a new version in 2019.
Advantages of FHA Loans: -You can qualify with a lower credit score compared to other loans and higher debt ratios allowed. -30 year fixed, 15 year fixed, 5/1 arm, and 3/1 arm loan products are offered -You can buy a home with a down payment as low as 3.5%. -If you already have an FHA loan, you can refinance with FHA Streamline to lower your interest rate. -You may qualify even if you've had financial difficulties in the past, like a bankruptcy or foreclosure, as the waiting period is shorter than on conventional loans. -You may be able to roll your closing costs into your loan.
