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HOME AFFORDABLE REFINANCE PROGRAM

The objective of a refinance under HARP is to provide creditworthy homeowners the opportunity to get into a new mortgage with better terms.

HOW IT WORKS:
The interest rate, mortgage payment, and amount owed over the life of the loan should be an improvement over current loan terms otherwise refinancing might not be the best solution. The HARP program ultimately allows homeowners to take advantage of current market rates even if the current mortgage is “underwater”. The program has been extended until the end of 2016.


ELIGIBILITY:
The requirements considered to be eligible for the HARP program are listed here. Not sure if you fall into these categories? Ask your trusted CMG Financial expert today!
  • The mortgage must be owned or guaranteed by Fannie Mae or Freddie Mac.
  • The mortgage must have been sold to Fannie Mae or Freddie Mac on or before May 31, 2009.
  • 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.
  • The current loan-to-value (LTV) ratio must be greater than 80%.
  • The borrower must be current on the mortgage at the time of the refinance, with no late payment in the past six months and no more than one late payment in the past 12 months.
  • You have a reasonable ability to pay the new mortgage payments.
  • The refinance improves the long-term affordability or stability of your loan.

HOW CMG FINANCIAL CAN HELP:
CMG Financial is fully prepared to assist homeowners in securing a mortgage best suited for their future financial success. With knowledgeable Loan Officers and extensive experience with HARP, we are here to answer questions and begin the process of getting you into a more manageable mortgage plan.

Documents Needed:
  • Information about the monthly gross (before tax) income of all the homeowners on your loan, including recent pay stubs if you receive them, or documentation of income you receive from other sources.
  • Your most recent income tax return.
  • Information about any junior lien mortgage on the house.
  • Account balances and minimum monthly payments due on all of your credit cards.
  • Account balances and monthly payments on all your other debts.

All loan programs displayed on this website may not be available in every state.


MORE REFINANCE LOAN PROGRAMS
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REFINANCE CALCULATORS

Explore the possibilities using our mortgage calculators. CMG Financial is dedicated to providing mortgage solutions to meet unique financial situations and goals.

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© CMG Financial, All Rights Reserved. CMG Financial is a registered trade name of CMG Mortgage, Inc., NMLS ID #1820 in most, but not all states. CMG Mortgage, Inc. is an equal opportunity lender with corporate office located at 3160 Crow Canyon Road, Suite 400, San Ramon, CA 94583 888-264-4663. Licensed by the Department of Business Oversight under the California Residential Mortgage Lending Act No. 4150025; AK #AK1820; AZ #0903132; Colorado regulated by the Division of Real Estate; Georgia Residential Mortgage Licensee #15438; Illinois Residential Mortgage Licensee; Kansas Licensed Mortgage Company #MC.0001160; Massachusetts Mortgage Lender License #MC1820 and Mortgage Broker License #MC1820; Mississippi Licensed Mortgage Company Licensed by the Mississippi Department of Banking and Consumer Finance; Licensed by the New Hampshire Banking Department; Licensed by the NJ Department of Banking and Insurance; Licensed Mortgage Banker – NYS Department of Financial Services; Ohio Mortgage Broker Act Mortgage Banker Exemption #MBMB.850204.000; Licensed by the Oregon Division of Financial Regulation #ML-3000; Rhode Island Licensed Lender #20142986LL; and Licensed by the Virginia State Corporation Commission #MC-5521. CMG Mortgage, Inc. is licensed in all 50 states and the District of Columbia. Offer of credit is subject to credit approval. For information about our company, please visit us at www.cmgfi.com. To verify our complete list of state licenses, please visit www.cmgfi.com/corporate/licensing and NMLS Consumer Access (www.nmlsconsumeraccess.org).