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Making Home Affordable Refinance Programs Have Been Extended

REFGA — Thu, 21 Apr 2011 19:26:41 +0000

The Home Affordable Refinance Program (HARP) has been extended until June 30, 2012. This is great news for anyone whose home has fallen in value and would like to take advantage of the current rates. Find out more about these programs below in our Blog.

Eligible Loans must close/fund/disburse on or before June 30, 2012

If you have a Fannie Mae or Freddie Mac loan, you may qualify for HARP refinancing options. For more information, please contact us directly or request a FREE Online Rate Quote . We look forward to working with you. Visit us on the web: http://www.refga.com

Introducing New Refinancing Solutions

REFGA — Tue, 01 Mar 2011 22:46:50 +0000

Educate yourself about the new refinancing options available under the Home Affordable Refinance Program, or HARP. Launched by the federal government under the Homeowner Affordability and Stability Plan, HARP may help responsible homeowners refinance into more affordable payments by allowing borrowers who are current on their existing mortgage to refinance up to 105% LTV with no CLTV limitation when their home value has declined.

HARP options available through Real Estate Financial Inc:

Fannie Mae® DU Refi Plus
     > Available for borrowers who have not been more than 60 days late in the past 12 months
     > Reduced income/employment documentation requirements
     > Only loans currently owned by Fannie Mae are eligible
     > No limit on the number of financed properties owned by a borrower
     > Condominiums do not need to be recertified
     > Appraisal may not be needed for the refinance transaction
     > Primary residence, second home, and non owner occupied investment properties eligible

Freddie Mac Relief Refinance – Open Access
     > Available for borrowers who have not been more than 60 days late in the past 12 months
     > Reduced or no income/employment documentation
     > Only loans currently owned by Freddie Mac are eligible
     > Primary residence, second home, and non owner occupied investment properties eligible

Buying HUD Foreclosures – REO Properties

REFGA — Tue, 22 Feb 2011 17:54:32 +0000

Finding a great deal may be easier than ever. For a limited time, FHA offers sales incentives on HUD homes (HUD Real Estate Owned properties) that will make these homes more affordable for homebuyers when purchasing a property using FHA-insured financing. The incentives VARY from State to State but may include: low down payments as little $100 down (aka HUD 100) and sales allowances that can be used to pay closing costs, make repairs, or pay down the mortgage amount.

The benefits of FHA financing are low down payments, competitive interest rates, and flexible credit qualifying. To find out if you qualify or to gather more information about this great product, contact us today!

To view current HUD home listings in your area, visit the HUD Home Store Website at http://hudhomestore.com/HudHome/Index.aspx

Feel free to request a FREE Rate Quote or to Contact Us directly. We look forward to working with you.

Mortgage Morning Outlook

Chad VonHoven — Fri, 28 Jan 2011 17:03:19 +0000

We will start the day carefully floating as prices are off their worst levels, but be ready to lock. The 25-day moving average resistance level has halted the mortgage bond’s gains over the past week. On a positive note, the a layer of support has helped Bonds remain near current levels. But get ready – should the Bond fall beneath the nearby support level, the price losses could be significant and very swift.

Learn About Making Home Affordable

REFGA — Thu, 27 Jan 2011 20:18:31 +0000

The Obama Administration’s Making Home Affordable Program includes opportunities to modify or refinance your mortgage to make your monthly payments more affordable.

A major portion of the Making Home Affordable initiative includes Fannie Mae’s DU Refi Plus & Freddie Mac’s Relief Refinance (Open Access) program which allows borrowers who are current on their existing mortgage to refinance when their home values may have declined and/or Mortgage Insurance may not be available.

Both programs allow borrowers to refinance their current mortgage up to 105% loan to value with no limitation on total loan to value when subordinate financing is in place. If your current loan does not have mortgage insurance, then your new loan will not mortgage insurance regardless of loan to value!

Feel free to request a FREE Rate Quote or to Contact Us directly.