Looking to refinance but your home is under water? GTE Financial can help with HARP! The Home Affordable Refinance Program is designed to help homeowners with a Fannie Mae or Freddie Mac home loan refinance and lower their rate, even if they owe more than the home’s current value. You can easily apply for a HARP II refinance with GTE; you can apply online or visit one of our locations. All HARP loans need to be approved by Fannie Mae or Freddie Mac and the loan specifications and qualification parameters can change at any time.
Although HARP II is a nation-wide program, GTE home loans are only available in the state of Florida. We look forward to helping you save with HARP!
How GTE and HARP II can help you lower your payment:
- You can refinance your 1st mortgage* even if you owe more than the home’s value.
- No maximum loan to value (LTV) requirement.
- Great rates with more flexible credit requirements.
Best Choice If:
- You are current on your mortgage and have no record of late payment within the last six months, and only have had a maximum of one late payment over the past 12-month period.
- Your current loan to value (LTV) is higher than 80%.
- Your mortgage was sold to or guaranteed by Fannie Mae or Freddie Mac on or before May 31, 2009. To verify your mortgage:
- Your mortgage has not been refinanced through HARP in the past, unless it happens to be a Fannie Mae loan that underwent a HARP refinance between March and May 2009.
Other GTE Financial factors include:
- Although HARP is a nation-wide program, GTE home loans are only available in the state of Florida.
- GTE requires a minimum credit score of 660 for a primary home residence or 720 for an investment property for loans sold to Freddie Mac. Fannie Mae requires a minimum credit score of 620.
- If you have an existing GTE mortgage sold to Fannie Mae, speak with a GTE representative about a possible appraisal option in order to waive income and asset documentation.
- HARP loan processing is averaging 85 days or longer as processing is dependent on meeting government requirements.
As Seen on ABC Action News:
Read Article from the Tampa Bay Business Journal
For additional details, visit the official program website, www.makinghomeaffordable.gov.
*Only applies to first mortgage products. Mortgage payments must be current and no record of late payment within the last six months, and may only have had one late payment maximum over the past 12-month period. Current mortgage loan-to-value ratio (LTV) must be higher than 80%. Mortgage must have been sold to or guaranteed by Fannie Mae or Freddie Mac on or before May 31, 2009. Mortgage must not have already been refinanced through HARP in the past, unless it happens to be a Fannie Mae loan that underwent a HARP refinance between March and May 2009. Harp II program runs through December 31, 2015 and requirements are subject to change based on final program guidelines.