Guidelines for HARP Eligibility in Hampton Roads VA

patrick bowler, movement mortgage virginia beach vaIf you’re interested in taking advantage of the current low interest rates to refinance your Hampton Roads VA home, you may want to consider the Home Affordable Refinance Program, also known as HARP.

Introduced in 2009, as the economic stimulus to help underwater home owners refinance their mortgages, many struggling home owners in Hampton Roads VA found great relief; however, due to strict guidelines, many others were left out in the original program. 

The government revised the guidelines, and the current HARP program offers help to Hampton Roads VA home owners, who are not underwater with their current mortgage. 

Qualifications for Hampton Roads VA:

  1. You must be current on your mortgage. 
  2. Your mortgage must be loaned or guaranteed by Fannie Mae or Freddie Mac before May 31, 2009. 
  3. You cannot have a previous refinance under HARP, unless it was a Fannie Mae loan that was refinanced under HARP from March-May 2009.
  4. The value of your home must show a decrease from the date of original purchase. 

It’s important to note that you do not have to use your original lender to take advantage of the HARP program in Hampton Roads VA. At Movement Mortgage, we will walk you through the HARP process of qualification. 

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Pat Bowler | Market Leader & Mortgage Consultant

575 Lynnhaven Parkway Suite 101 | Virginia Beach VA 23452 | 757-652-3999

Movement Mortgage, LLC is an Equal Housing Lender. NMLS # 39179 | 877-314-1499. Movement Mortgage, LLC is licensed by the “Virginia Bureau of Financial Institutions” Lic # MC-5112. Interest rates and products are subject to change without notice and may or may not be available at the time of loan commitment or lock-in. Borrowers must qualify at closing for all benefits. “Movement Mortgage” is a registered trademark of the Movement Mortgage, LLC, a Delaware limited liability company.

NMLS license number 21095

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