Home Affordable Program: Refinancing

Many homeowners pay their mortgage on time, but do not qualify to refinance at today’s lower rates due to current home values. A Home Affordable Refinance will help borrowers whose loans are held by Fannie Mae or Freddie Mac refinance into a more affordable mortgage.

This new plan will make refinancing easier for many homeowners. If your loan is held by Freddie Mac, some benefits to refinancing under this plan may include:

•Refinance up to 105% loan-to-value ratio. For instance, if your home is worth $100,000 (using an automated valuation model), under this program, you may be able to refinance your mortgage up to $105,000
•No appraisal required on most single-family homes
•No minimum credit score
•No employment, income or asset verification required

With today’s interest rate environment and the relaxed qualifying requirements available through the Making Home Affordable Program, it makes sense to review your current situation now. To find out more about your eligibility, please call us at (866) 898-1818.

Who Is Eligible?