Ace Mortgage Loan Corporation is a mortgage company located in Coral Springs, FL. This is one of the most trust-worthy mortgage companies found in South Florida. Their home mortgage loan experts have the knowledge and skills necessary to assist home owners in Boca Raton, FL apply for a HARP home loan. They want their clients to gain understanding of what the HARP loan is and how it works. They want their clients to know what the qualifications are to be eligible for the HARP loan and what the steps are to refinancing a HARP loan. So let’s get started.
HARP stands for the Home Affordable Refinance Program. The HARP is a federal program that was established in 2009 to help homeowners whose value of the home is less than the outstanding loan balance. This mortgage loan requires a loan application and underwriting process. There are refinance fees that will apply. You may be eligible for a HARP loan if you meet the following criteria:
- The current loan-to-value (LTV) ratio must be more than 80%.
- The mortgage must be owned by Freddie Mac or Fannie Mae.
- The mortgage must have been sold to Fannie Mac or Freddie Mac on or before the 31st of May of 2009.
- The mortgage can’t have been refinanced under HARP previously unless it is a Fannie Mae loan that was refinanced under HARP from March 2009 through May 2009.
- The borrower must be current on the mortgage at the time of the refinance, with an excellent payment history in the past 12 months.
You can apply for a HARP loan with Ace Mortgage Loan Corporation. Their mortgage brokers can help you refinance your HARP loan, too. In order to refinance your HARP loan, you first need to determine whether your mortgage is owned or guaranteed by Fannie Mae or Freddie Mac. Then, you need to compare the rates and costs with additional mortgage companies to ensure the best refinance terms. Surely, you will find that there is no other mortgage company like Ace Mortgage Loan Corporation who can do a better job at assisting you with your HARP refinance process. Don’t waste another minute. Pick up your phone and call Ace Mortgage Loan Corporation today at (954) 777-4774 for more information. You can visit their office, if you like. Ace Mortgage Loan Corporation is located on 10181 W. Sample Road, Coral Springs, FL 33065. Their professional home loan experts are waiting to help you.