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Can I refinance an investment property with HARP?

by BHarte from Santa Rosa, California. Feb 20th 2013 Reply


Barb Lanis (BarbLanis)
#70 ranked lender in Illinois - 663 contributions

Yes, absolutely. You still need to qualify, but if your loan is backed by Fannie/Freddie, the guidelines are a little more relaxed.

Feb 20th 2013
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Kiyoshi Inui (Kiyoshi)
#538 ranked lender in California - 110 contributions

Yes. As long as your credit score is above 640, the loan is backed by Fannie or Freddie & you've been in the current loan prior to June 1st, 2009. Feel free to contact me if you're just putting the feelers out for quick & accurate pricing.Best Regards, Kiyoshi 619-822-2407

Feb 20th 2013
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Adam Rummel (arummel1)
#340 ranked lender in California - 17 contributions

Yes, you can refinance your investment property as long as it is Fannie or Freddie backed and there is no minimum credit score required. Let me know if I can help. Adam 949.279.4043

Feb 20th 2013
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Eric Blossman NMLS 211144 (eblossman)
#116 ranked lender in Texas - 63 contributions

Yes.. absolutely. HARP does allow for refinancing of investment properties as long as you meet the other HARP requirements. It is probably best that you contact a local lender that can check the other paramenters of the program for you.

Feb 20th 2013
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Wade Miller (wadeger)
#822 ranked lender in California - 6 contributions

Yes, you may refinance investment properties under the HARP program. Please call or email with a detailed quote based on your particular circumstance. Wade Miller (714) 292-4198

Feb 20th 2013
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Todd Flesner (toddflesner)
#819 ranked lender in California - 1 contribution

Investment properties can be refinanced using the HARP program as long as all other eligibility requirements are met.

Feb 20th 2013
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Andrew Alfonso (CashCow)
#43 ranked lender in Florida - 271 contributions

Yes. As long as your credit score is above 640, the loan is backed by Fannie or Freddie & you've been in the current loan prior to June 1st, 2009. Feel free to contact me if you're just putting the feelers out for quick & accurate pricing. Email me directly !! andrew@doubleamortgage.com

Feb 20th 2013
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Joe Shamie (Joe Shamie)
#4 ranked lender in New Jersey - 1,412 contributions

Yes

Feb 20th 2013
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Elise David (MortgageGal)
#807 ranked lender in California - 2 contributions

Hi B Harte,Yes! Fannie Mae or Freddi Mac owned properties purchased prior to June 2009 are part of the Harp 2.0 Program including investment properties. We run your file to get what they call a "DU" eligible and make sure we can get you an appraisal waiver also. Payments need to be current and no lates. Most likely you will reduce your rate by minimum 1.00-2.00% to work in your favor. Here to help walk you through your options.Best Regards, Elise, Your Mortgage Gal. (760) 702-2352 or email directly elisea.david@gmail.com

Feb 20th 2013
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Steven Ceceri (CreativeFinancingOptionsGroup)
#36 ranked lender in Massachusetts - 723 contributions

Good Evening. The simple answer is Yes, as long as your loan is HARP Eligible. Here is a direct link to see if your loan meets the requirements: http://www.makinghomeaffordable.gov/get-assistance/loan-look-up/Pages/default.aspx Some other quick guidelines are as follows: You may be eligible for HARP if you meet all of the following criteria: (1) The mortgage must be owned or guaranteed by Freddie Mac or Fannie Mae (2) The mortgage must have been sold to Fannie Mae or Freddie Mac on or before May 31, 2009 (3) The mortgage cannot have been refinanced under HARP previously unless it is a Fannie Mae loan that was refinanced under HARP from March-May, 2009 (4) The current loan-to-value (LTV) ratio must be greater than 80% (5) The borrower must be current on the mortgage at the time of the refinance, with a good payment history in the past 12 months. If I can be of any direct help, please let me know. Have a great night!

Feb 20th 2013
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Matthew De Weese (Pacific1Lending)
#824 ranked lender in California - 55 contributions

Yes, as long as you are current on all payments, have decent credit, and your loan has been backed by Fannie Mae or Freddie Mac prior to June 1st of 2009. If you've done a refinance inbetween that time to now, or have done a loan mod, you will not be eligible.

Feb 20th 2013
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Joe Metzler (JoeMetzler)
#1 ranked lender in Minnesota - 4,033 contributions

Yes. An investment property is allowed under the HARP program. www.HARP-Refinance-MN.com

Feb 21st 2013
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