HARP Loans for Illinois Homeowners
What is the HARP Loan Program?
The US Government’s Home Affordable Refinance Program (HARP) is a program designed to help Illinois homeowners refinance their Illinois home in situations where home value has declined and, as a result, other IL home loan refinancing programs are not an option. H.A.R.P. loans in that state of Illinois are meant to help homeowners obtain a more affordable and stable IL mortgage.
IL Loan Requirements
- Illinois homeowners who currently owe more their IL mortgage than the home’s current market value
- Have private mortgage insurance in Illinois
- Have a Fannie Mae or Freddie Mac insured loan
- Have wanted to refinance in Illinois but were told they didn’t qualify
- Illinois refinances of up to 95 percent loan-to-value
- Good payment history on current Illinois loan
- Additional requirements apply
Do refinance fees for HARP Loans in Illinois apply?
Illinois HARP loans require underwriting and a loan application process and underwriting process so refinance fees will apply.
Contact the Leading Illinois HARP Lender
Apply now or contact the IL HARP lenders at Home Point Financial to learn more about the Illinois HARP program and eligibility.
