Do you Qualify for the New H.A.R.P. 2.0 Program?

Q: What borrowers will be eligible for this program?

A:  If the current mortgage is owned or guaranteed by Fannie Mae . The mortgage must have have been sold and delivered to Fannie Mae on or before May 31, 2009. Borrower must be current on the current mortgage, no lates in the last 6 months and no more than one late in the last 12 months.

Q:  Will a borrower qualify if they have a mortgage with MI ( Mortgage Insurance)?

A:  Yes, if MI is currently on the current mortgage and is is transferrable; this will  be eligible for HARP 2.0

Q: How can you detemine if the  mortgage is owned by Fannie Mae?

A:  Call our office at (909) 447-9722 or go online to http:///www.fanniemae.com/lookup

 

We’re  can close HARP 2.0 loans with Unlimited LTV/CLTV!Take advantage of this HARP 2.0 at Cavalier Financial Services:

  • Unlimited LTV/CLTV
  • Property Inspection Waivers (PIWs) are acceptable
  • No DTI restrictions (Approve/Eligible Findings)
  • High balance loans are eligible (125% LTV/CLTV)
  • Condos are acceptable (125% LTV/CLTV)
  • LLPA caps are in effect

MAX LTV & CLTV:

FICO                                         LTV                                                     CLTV

760+                                UNLIMITED LTV                                       Unlimited

720-759                           Up to 150% LTV                                      Unlimited

680-719                          Up to 140% LTV                                       Unlimited

679 & Below                    Up to 125% LTV                                      Unlimited

Posted by Marian on Mar 27 2012 in Uncategorized


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