FHA and Investor Specialist

Chase Harp Mortgage Program Extended Through June 2011:  Good news for homeowners!  The Federal Government has extended the HARP Mortgage Program Through June 2011!  Chase has followed suit and is extending their offering of the HARPmortgage program as well.  The primary benefit of this mortgage loan program is that it is designed to provide a reduction in mortgage rate those who could not otherwise refinance, due to decreasing home values.  A secondary benefit of this loan program is the streamlined documentation requirements.  As a Chase Home Loan Mortgage Consultant, I can look up any mortgage loan currently serviced by Chase to see if that particular loan is eligible for the Chase Harp Mortgage Program.  Loans originated by Washington Mutual or EMC, that are currently serviced by Chase, can be reviewed as well to see if they are eligible for the Chase Harp Mortgage Program.

One major benefit of the Chase Harp Mortgage Program is that if you originally put 20% down or more on your purchase of your home; or if you refinanced at an 80% or lower loan to value originally, you will not incur a mortgage insurance charge for your new loan, regardless of the loan to value.  Some restrictions may apply, but this is generally the case.  Those who did have Mortgage Insurance in place and who are eligible for the Chase HARP Mortgage Program will most likely not have an increase in their Mortgage Insurance premiums regardless of the loan to value.  Again, restrictions may apply and not all loans in the Chase portfolio qualify for the HARP program. The HARP program is not available for many secondary market bulk purchases, for example.

Our Chase HARP Mortgage Program is a 30 Year Fixed Rate Mortgage, and terms can vary based on credit rating, property type, occupancy and combined loan to value.  In some instances, adjustable rate mortgage programs can be offered as well.  Contact me directly for details.

The basic criteria that help to determine if you are eligible for Chase HARP Mortgage Program boil down to the type of loan you originally obtained: typically the loans ought to be serviced by Fannie Mae, be originally a full documentation loan, and have a strong 12 month mortgage history.  Being more than a 1 times 30 day late in the last 12 months will disqualify one from the Fannie Mae programs.  There are also 2 Freddie Mac versions of the HARP program as well, which requires a clean mortgage history.

Chase offers 4 variations of the HARP program, 2 for Fannie Mae serviced loans and 2 for Freddie Mac serviced loans.

All in all, if you have a Chase serviced mortgage loan and would like to see if you qualify for the Chase HARP Mortgage Program for streamlined refinancing, please contact me to determine your eligibility!  Rates and terms vary, and this does not consitute an offer to lend.