Concord Mortgage, Inc. is excited to offer the HARP 2.0 loan program which provides financing even if you owe more than your home is worth.*
~ Current mortgage must have been obtained before May, 31, 2009.
~ 150% loan to value on primary or second homes.
~ 640 minimum credit score on primary and second homes.
~ 105% loan to value on rental properties with 700 minimum credit score.
~ Appraisal may be waived.
~ 1-4 Family Primary Residence, Second Home, 1-2 Family Non-Owner Occupied, and Condominiums & PUDs are eligible.
~ Private Mortgage Insurance transfers are allowed with certain mortgage insurance companies.
~ Subordinate liens (second mortgages) must be re-subordinated.
~ Any mortgage that has been past due in the last 12 months is ineligible.
~ Prior bankruptcy or foreclosure not allowed in previous seven years
You must benefit from the refinance in one of the following ways:
~ Reduction in the monthly principal and interest payment
~ Reduction in the interest rate
~ Reduction in the amortization term
~ Move to a more stable product, e.g. ARM to Fixed-Rate
or call 800-732-6643
*Actual payments and loan terms will vary based upon individual situation and current interest rates. All loans are subject to credit approval. Program guidelines are subject to change at any time.
