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Where Can I Get Mortgage Rates For HARP loans?

By Ann White

HARP is the acronym for the Home Affordable Refinance Program. The best place to get Mortgage Rates for HARP loans is by speaking with a mortgage broker. HARP stands for Home Affordable Refinance Program. The rates are going to be roughly 0.1% higher than traditional fixed rates. This is because their is higher risk for the lender as the program is for people with homes who’s value have dropped thus making their home “under water” in relation to what the owe versus what their home is worth. The program is for people who owe more than their home is worth.

Lender

To get mortgage rates for HARP loans your best bet is to first call you’re lender. Tell them your home might be underwater and ask what the rates would be for HARP loans.

Find Someone Knowledgeable

Many loan originators are focused on the products not the government labels from them. Some loan originators won’t know what to say if you ask what are mortgage rates for Harp loans? They will be able to tell you their rates for Freddie Mac DO refi plus (also known as the relief refinance mortgage). They will also be able to tell you the rates for Fannie Mae’s DU refi plus program. These are both HARP programs.

Other Resources

If you don’t want to bother calling a lender and dealing with that nonsense, simply Google par fixed rates and add 0.1%. This is the fastest way to get mortgage rates for HARP loans. Better yet, keep in mind you won’t know if you need a HARP loan until you have had an appraisal. Traditional financing allows you to borrow up to 97.75% of the appraised value of your home. HARP loans allow up to borrow 105% of the appraised value of the property.

Most HARP loans start out as a traditional loan until the appraisal comes back light. Ask lots of questions about these programs. They are specialty programs and you may not qualify.

Related posts:

1. What Is A HARP Mortgage Loan?
2. Why Would My Mortgage Application Be Delayed?
3. Are Conventional Loans Or FHA The Lowest Mortgage Interest Rates?
4. How Can I Lower The Interest Rate On My Current Mortgage?
5. How Do Conventional Home Loans Compare To FHA Loans?