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Can you use HARP 2 refinance for investment properties?

Can you use HARP 2 refinance for investment properties?

by WillHi_520_998 from Santa Cruz, California. Mar 26th 2012 Reply


Hans Bruhner (Hans Bruhner)
#133 ranked lender in California - 125 contributions

I can get this done. I am a mortgage broker/banker in northern CA with you. Call me at (707) 347-9250 and I will help you. We have a way to get this done with no overlays as we sell directly to Fannie Mae or Freddie Mac. I wrote an article about it and even have links there wo you can see if Freddie or Fannie owns your loan currently. Check that out at www hansblog dot com

Mar 26th 2012
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Jameel Batshon (JBatshon)
#605 ranked lender in California - 3 contributions

Yes, depends on who owns your loan. Please give me a call to discuss.

Mar 26th 2012
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William J Acres (William_Acres)
#73 ranked lender in Arizona - 8,728 contributions

YES... the HARP program will work for investment properties, however lender overlays might prevent this... contact a local mortgage broker, not a bank, and apply with them.. they have access to numerous lenders and can find the right one for your particular scenario.. WilliamAcres.com

Mar 26th 2012
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Bert Carpenter (BertCarpenter)
#37 ranked lender in Arizona - 2,236 contributions

Perhaps. Under the HARP 2.0 guidelines, investment properties are eligible. That said, most lenders have added additional criteria, commonly called "overlays" that restrict what you might be able to obtain. Contact a local Mortgage Banker /Broker. DON'T use one of the big banks, DON'T use one of the big national Mortgage factories, and DON'T use the people you are currently making payments to. We have heard that the big banks are already advising their customers that it could be a 4-6 month lead time before they will be able to close escrow. You shouldn't have to wait. The local or regional Mortgage Banker/Broker is better equipped to handle the volume. We tend to be much more nimble in adding or moving personnel to accommodate a spike in volume. The big guys don't want to hire more people, so instead you wait and wait and wait. Another benefit is that your local Mortgage Banker has access to all the lending sources, allowing for an easier fit into the lender or program that makes the most sense. Whoever you choose, make sure you check them out at the National Mortgage Licensing System at www.NMLSConsumerAccess.org ~ Bert Carpenter, The LoansA2z team of NOVA Home Loans ~ NMLS 40586 ~ www.LoansA2z.com

Mar 26th 2012
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Melvin List (melvinlist)
#144 ranked lender in Florida - 124 contributions

Yes you can use the HARP program for investment properties. There are some rate adjustments for investment properties so depending on your current rate will decide if it makes sense or not. I only lend in Florida.

Mar 27th 2012
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Good afternoon, It's Pete from United Mortgage Corp. I am looking forward to having you on as an approved broker with us so that we can help increase your business with our HARP 2.0 program. Please click on the link below so we can start the process and get you on board. If you have any questions please call me at (631)-719-1711. I am looking forward to building a relationship with your company and helping you close more loans. - Open access- Unlimited LTV- No overlays- Based on DU/ LP findings https://www.comergence.com/Brand/UnitedMortgage.aspx For Mortgage Industry Professionals Only. This is not intended as an advertisement of credit to the general public

Jun 26th 2012
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