HARP loans enable qualified homeowners to refinance their current government-backed mortgages at today’s historically low interest rates. With eligibility and refinancing guidelines recently broadened, more St. Louis homeowners than ever qualify for HARP loans.
HARP Loan Requirements
- Your mortgage must be owned or guaranteed by Fannie Mae or Freddie Mac
- You do not have an FHA, VA or USDA loan
- The current loan-to-value ratio on your mortgage must be greater than 80 percent
- You have no missed mortgage payments in the past six months, and no more than one missed mortgage payment in the past 12 months
Advantages of HARP Loans
- Lenient Qualification Requirements HARP loans do not require any equity or an appraisal. These flexible terms, combined with accommodating underwriting guidelines, make HARP loans one of the best options for homeowners looking to refinance their homes.
- Save Money With no mortgage insurance and lower closing costs than other loans, HARP loans lower monthly mortgage payments and allow St. Louis homeowners to build their equity faster.
- Easier Process Reduced documentation requirements mean qualified homeowners will enjoy a quick approval process and start saving money faster.
HARP Loans with Golden Oak Lending St. Louis
Golden Oak Lending St. Louis is proud to be a qualified lender of HARP loans. With recently extended loan requirements, our personal loan experts can help more St. Louis residents than ever secure their HARP loan at a great low rate. Also, our conveniently located St. Louis office in the Westport Plaza Gold Tower ensures that you have easy access to your personal mortgage professional. If you are interested in how HARP can help you save money, contact Golden Oak Lending St. Louis today.