If you're not behind on your mortgage payments but have been unable to get traditional refinancing because the value of your home has declined, you may be eligible to refinance through the Home Affordable Refinance Program (HARP). HARP is designed to help you get a new, more affordable, more stable mortgage.
CCU can accept applications for HARP loans if your current mortgage loan was sold to Fannie Mae on or before May 31, 2009. We are not able to accept HARP applications for loans sold to Freddie Mac.
You may check whether your loan fits this criteria using the resources shown below:
- Visit Know Your Options
- Or call 800-7FANNIE (8am to 8pm ET)
Other criteria apply, including:
- You have not previously modified or refinanced the loan through HARP.
- Your loan has an acceptable payment history for 12 months prior to refinance. This includes no 30 day delinquency in the past six months and no more than one 30 day delinquency in months seven through twelve.
Your CCU Mortgage Specialist will assist you in determining if your loan qualifies for a HARP refinance.
Speak to a Mortgage Specialist 24 hours a day: 321.690.2328 (outside Brevard, 800.690.2338)
Here is a resource to help you prepare for borrowing at a great rate: