The final days of the shockingly generous government refinance program called HARP are upon us. Cue the sad harp music. HARP (Home Affordable Refinance Program) is a refinancing program launched by the US government under the Obama administration. It was established amidst the Great Recession, offering wise homeowners lucrative access to lower interest rates or reduced payments. But as they say, all good things must come to an end. For this very good thing, that time is coming in December 2018.
By refinancing your mortgage before HARP comes to an end, you could eliminate up to 15 years of mortgage payments by transitioning from a 30- to a 15-year fixed mortgage. Not interested in changing the term of your home loan? You could still shave thousands of dollars off the cost of your mortgage by locking in a lower interest rate.
HARP was created with America’s middle class in mind. As such, your five-million-dollar mansion in the Hamptons isn’t going to qualify. But if your mortgage is under $625,000, you could be on your way to major savings. Find out if you qualify in minutes through a trusted company like LendingTree.
There’s no other way to say it: the clock is ticking. Here’s what you need to do now to throw your hat in the money-saving HARP ring:
Step 1. Select your state by clicking on the map below.
Step 2. Answer a few questions to receive competitive quotes from multiple lenders through the LendingTree platform.
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