Effective immediately, I am pleased to announce that in addition to primary residences, second home and investment properties are now eligible for refinance loans on the current HARP Program. The maximum 1st mortgage loan-to-value is 105%, with no maximum CLTV.
CLTV is "Combined Loan-To-Value;" meaning the total owed on both a 1st & 2nd mortgage as a percent of the home's value. For this program, we can refinance a 1st mortgage to 105% of the appraised value, regardless of the balance on an existing 2nd (if a 2nd mortgage is in place), subject to the ordinary qualifiers.
Your existing 1st mortgage must be owned by Fannie or Freddie. To find out if Fannie or Freddie owns your loan, you can look it up here:
http://www.fanniemae.com/loanlookup
https://ww3.freddiemac.com/corporate
If you are interested, to estimate a rate and payment for you I will need the estimated appraised value of the home, current loan balance and interest rate, 2 years' income/job history, monthly debt, and the aprox. credit strength.
Once you have determined that Fannie or Freddie owns your loan, if you wish to apply immediately, you can do so here: https://0990471896.secure-loancenter.com/WebApp/FullAppLogin.aspx
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