Forgotten Your Password?

Need to Register?

Question Icon

Can I refinance an investment property through HARP even if the orig. loan was taken out when property was owner occupied?

by ms__700_987 from Springfield, New Jersey. Apr 17th 2012 Reply


Linda Wintersteen (Linda123)
#3 ranked lender in Arizona - 1,252 contributions

have you refied at all before?? i do investment harps, and it all depends on when you took out your loan i loan in about 25 states . call at 602-3301598 linda

Apr 17th 2012
0
0

This would be my first refinance. The loan was taken out in 2008 and is a Fannie Mae loan. I've been told that I can't refinance through HARP because the property changed ownership status (from owner occupied to investment).

Apr 17th 2012
0
0
Linda Wintersteen (Linda123)
#3 ranked lender in Arizona - 1,252 contributions

how many properties do you own? i can go up to 10 properties..

Apr 17th 2012
0
0

What date did you close on this loan? Did you confirm it was a Fannie Mae or Freddie Mac Loan. If not, I can help you. I only do NJ loans. William Turano Senior Loan Officer NMLS #2479162164 Route 35 Building A, 2nd Floor Sea Girt, NJ 08750 Office 732-359-3041 ext. 3044 Cell: 908-783-5755 Fax: 732-791-1514

Apr 17th 2012
0
0
Linda Wintersteen (Linda123)
#3 ranked lender in Arizona - 1,252 contributions

I do have some ideas for you. Please call me at 602-330-1598 or email me at yourloanpartnerforlife@live.com I am going to be away from my computer for a while ...

Apr 17th 2012
0
0
Patricia Johnson (Greenway)
#18 ranked lender in Maryland - 10 contributions

Hello- yes you can refiannce an investment property under the HARP program as long as loan is owned or guaranteed by Fannie Mae prior to March, 1 2009. Please feel free to call or email with other questions (908) 615-2249 or pjohnson@ahmcloans.com

Apr 17th 2012
0
0
Lynda Mckenzie (Lyndamck)
#9 ranked lender in Rhode Island - 33 contributions

The following occupancy and property types are eligible for securing a DU Refi Plus or Refi Plus mortgage loan:oone- to four-unit principal residences,oone-unit second homes, andoone- to four-unit investment properties.The existing mortgage and the new DU Refi Plus or Refi Plus mortgage loan do not have to represent the same occupancy. The occupancy of the subject property may have changed by the time of the new mortgage transaction. Because the loan represents existing Fannie Mae risk, there is no requirement that the occupancy has stayed the same.

Apr 17th 2012
0
0
William J Acres (William_Acres)
#2 ranked lender in Arizona - 8,000 contributions

Yes... an owner occupied home which is now an investment property will qualify for HARP... keep in mind that there is a slew of other guidelines as well, so the best advice I can give you is to Contact a LOCAL mortgage broker, not the local "Big" bank, and certainly not one of those 50 states internet lenders... the LOCAL broker is familiar with local customs and works with numerous lenders, seeking out the best loan terms for your particular scenario. Because he has lower overhead, he can offer you lower rates and lower fees than most of the larger lenders.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com

Apr 17th 2012
0
0
Lynda Mckenzie (Lyndamck)
#9 ranked lender in Rhode Island - 33 contributions

Sorry my answer had bullet points and they now appear as typos. (o)

Apr 17th 2012
0
0
Brett Pehrson (brettpehrson)
#19 ranked lender in Utah - 226 contributions

As long as you meet the guidelines for HARP 2 on an investment property, you should be fine. If you have mortgage insurance on it, then your trouble may be caused by getting that re-certified as a non-owner occupied property. I would agree that you should contact a local mortgage broker, as they would likely be able to find the right lender to do your type of loan.

Apr 17th 2012
0
0
Bert Carpenter (BertCarpenter)
#39 ranked lender in Arizona - 1,815 contributions

Provided you meet all of the other HARP requirements, the property will be considered based on its current status, Investment property, or Non-owner occupied". ~ Bert Carpenter, The LoansA2z team of NOVA Home Loans ~ NMLS 40586 ~ www.LoansA2z.com

Apr 17th 2012
0
0
Melvin List (melvinlist)
#143 ranked lender in Florida - 124 contributions

Investment properties are eligible for HARP.I only lend in Florida!

Apr 25th 2012
0
0
Subscribe to our news feed.