HARP 2.0 – Enhancements to DU Refi Plus
Effective Monday, March 19
- LTV/CLTV:
- Unlimited LTV/CLTV for Owner-Occupied Properties Fixed-Rate
- NOO: 105% LTV – 110% CLTV
- ARMs: 105% LTV/CLTV, regardless of occupancy
- Minimum Credit Scores:
- 660 Owner-Occupied
- 680 Second Home & NOO
- Appraisal Waivers accepted with $75 waiver fee
- Net Tangible Benefit required:
- Reduced P&I, or ARM to Fixed, or Rate Reduction, or Shorter Term
- Loans that currently require MI are not eligible.
- Application dates on or after 12/1/11
- Original loan being repaid must have been delivered to FNMA on or before 5/31/09
Our Lender Fee is only $699 “All-In”
- There is no flood fee, tax fee, etc.
- Appraisal Fees may be reimbursed at closing.
- Processing Fees may be charged to the borrower on borrower-paid transactions. For lender-paid transactions, outsourced contract processing (NMLS Licensed) is considered a 3rd-Party Fee and therefore may be covered by YSP overage/excess rebate.
- YSP overage (excess rebate) may be used towards 3rd-Party Fees, Contract Processing (NMLS licensed), Prepaid Interest, Property Taxes, Hazard, and max $500 towards principal reduction.
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