Did you now is one of the best moments in recent history to refinance? That's right, 30-year fixed mortgage interest rates are at historically low levels, on average less than 3.9%, and more homeowners are eligible for refinancing with the help of refinancing program Home Affordability (HARP).
What is HARP?
HARP is a government program that is designed to help homeowners refinance their mortgages with the hope of connecting consumers to the middle class with more affordable payments. And the best part is under water, homeowners or people who need more than the current value of their home, can also benefit from this program. HARP to expire on 31 December 2015, so it is essential for you to act quickly or you will miss this opportunity to save money.
How much money can HARP actually save me?
Homeowners who refinance their homes HARP save an average of $ 250 per month, totaling $ 3,000 per year, according to the website of the White House. More than 3 million homeowners have already benefited from this program, but the Federal Agency for housing finance (F.H.F.A) reports that about 700,000 still eligible borrowers. Even if you are not one of the people who qualify for HARP, there is a chance that you are missing out on potential savings.
How do I know if I qualify HARP?
The best way to see if you qualify for HARP refinance is to request a quotation. This way, you will also be able to fully grasp what your new interest rate will be and how much money you can save. 