What is Home Affordable Refinance Program® (HARP)?

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The Home Affordable Refinance Program® can save homeowners across the country up to $200 per month or $2,400 per year.

If you are looking for ways to save money on your mortgage, you may be interested to learn that  there is a program for homeowners who are current on their mortgage payments—the Home Affordable Refinance Program®, or HARP® (www.HARP.gov), offered by the Federal Housing Finance Agency (www.FHFA.gov) and the U.S. Department of the Treasury. You could save hundreds of dollars each
month and thousands of dollars each year by refinancing your mortgage through HARP.

You are eligible for HARP if:

Your loan is owned by Fannie Mae or Freddie Mac. Use the Loan Look-up Tools if you are unsure: Fannie Mae Loan Look-up Tool at https://know youroptions.com/loanlookup or call: 800-7FANNIE or Freddie Mac Loan Look-up Tool at https://ww3.freddiemac.com/loanlookup/ or call 800-FREDDIE.

You are current on your mortgage, with no 30-day+ late payments in the last six months and no more than one late payment in the past 12 months. Your home is your primary residence, a one-unit second home or a 1- to 4-unit investment property. Your loan was originated on or before May 31, 2009.

Your current loan-to-value (LTV) ratio is greater than 80 percent. For example, you owe $80,000 or more on a home valued at $100,000. Calculate your LTV ratio with this tool at http://know youroptions. com/find-resources/information-and-tools/financial-calculators/loan-to-value-calculator.

3 Simple Steps to Get HARPed

STEP 1: Gather your basic financial information before you contact your mortgage company. You’ll need: Your mortgage statements, including information on a second mortgage (if applicable); and your income details (paystubs or income tax returns)

STEP 2: Contact American Mortgage Corporation online, in person or by phone. Be prepared to provide the information necessary to verify your current source of income.

STEP 3: Go through the application, approval and closing process. If your lender determines that you qualify for HARP, they will guide you through the process.

Call American Mortgage Corporation to apply now and start saving money. Go to www.americanmortgagecorporation.com for more information or contact American Mortgage Corporation NMLS# 1203481. 1-800-898-2108.

HARP® and Home Affordable Refinance Program® are federally registered trademarks of the Federal Housing Finance Agency.

Source: HARP.GOV

American Mortgage Corporation is a registered DBA of American Mortgage Corporation, Inc. NMLS #1203481. This is not an advertisement to extend customer credit as defined by part 1026.2 of Regulation Z. Interest rate, program terms and conditions are subject to change without notice. Not all products are available in all states and for all loan amounts. Other restrictions and limitations may apply. Granting of loan is subject to the credit and policy requirements of American Mortgage Corporation, Inc. Refer to http://www.nmlsconsumer.org/ and input NMLS #1203481 to see where American Mortgage Corporation is a licensed lender. In IL, IN, FL, WA, the principal licensed office of American Mortgage Corporation, Inc. is 7115 Virginia Road. Suite 118.Crystal Lake, IL 60014. Phone: (630) 463-6114 (NMLS ID#1203481). Branch office is 999 Vanderbilt Beach Road Naples, FL 34108. (NMLS# 1604275). This is not an offer for extension of credit or commitment to lend. All loans must satisfy company underwriting guidelines. Not all applicants qualify. Information and pricing are subject to change at any time and without notice.