Current Harp Loan Rates
The interest rate table below is updated daily, Monday through Friday, to give you the most current rates when refinancing a home loan. Use our mortgage calculator to get a customized estimate of your mortgage rate and monthly payment. contact a chase home lending advisor when you’re ready to get started. To see our current mortgage rates for.
>>Click here to check today’s HARP-alternative program rates.<< Current 2018 HARP guidelines are as follows. The current loan must be owned by Fannie Mae or Freddie Mac. The loan must have closed by May 31, 2009. The current loan-to-value must be greater than 80% (your loan amount is 81%+ of the home’s value).
Two weeks ago the 15 year rate fell to 2.98%. The 5-1 hybrid ARM also a slight hit from 2.96% to 3.03%. Click here to check current mortgage rates for FHA, VA, USDA and Conventional loans. Will Mortgage Rates Rise or Fall? Inflation on the wholesale front certainly wasn’t an issue, primarily due to the continued fall in oil prices.
Your mortgage must have a current loan-to-value ratio of over 80%. This means that your home mortgage’s current amount is 81% or more of your home’s value. Current Mortgage Status. The first thing you have to look at is your current mortgage and your payment history. To be eligible for the HARP program, you must be current on your mortgage.
Borrowers with existing HARP loans are not eligible for the new offering unless they have refinanced out of HARP using one of the Enterprises traditional refinance products. HARP Extended into 2017 The new high LTV streamlined refinance offering will not be available to borrowers until October 2017.
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The loan-to-value ratio is very important for those looking to take advantage of HARP. Use the following equation to check whether your loan-to-value ratio allows you to meet that criterion of the HARP guidelines: LTV = Outstanding balance on your existing loan compared to your home’s current value
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The Annual Percentage Rate (APR) is based on the loan amount and may include up to 3 points. (Points include any origination, discount and lender fees.) On adjustable-rate loans, interest rates are subject to potential increases over the life of the loan, once the initial fixed-rate period expires.
If you currently have a Fannie Mae loan (click here to see if you do) or a Freddie Mac loan. With the HARP programs you can refinance into today's lower rates.