Applying for mortgage loan has always been the best thing to do when you want to buy new home but don’t have enough money at the moment. Even when you are having problem with the payment, you can still take care of it with mortgage refinance. If you want to apply for Wells Fargo mortgage refinance though, you will have to be eligible for one of its programs. Speaking about that, there is one interesting program to take into account. It is called Home Affordable Refinance Program (HARP). Let’s talk more of it here.
Refinancing Your Mortgage Loan to the WF
Sure, customers can apply for Wells Fargo mortgage refinance. However, it is not like the refinance is just for everyone. Don’t forget that there are requirements to be met. Mainly, people need to have significant amount of home equity to be eligible for refinance programs. However, sometimes this is the very problem that customers are facing. Not all of them have enough amount to be eligible for one after all. If that is the case with you, it does not actually mean that you have to drop the thought of doing Wells Fargo mortgage refinance.
The Home Affordable Refinance Program
There is one solution that Wells Fargo can suggest to you for that issue that many customers are facing. It would be none other than applying for the Home Affordable Refinance Program (HARP). This refinance program especially allows customers to refinance their mortgage despite them owing more than the home is worth. WF does not make things hard for their customers to do Wells Fargo mortgage refinance. For whatever purpose you are refinancing your mortgage; surely this refinance program here will make it possible for you.
The Benefits of Refinancing to HARP Loan
Speaking about its benefit, you might have known them already if you want to apply for Wells Fargo mortgage refinance. Why, of course, refinancing mortgage can reduce your interest rate. By reducing it, you can practically lower your mortgage payment and eventually shorten the term length of your loan. One thing leads to another, but these are the benefits of Wells Fargo mortgage refinance. Don’t you think it is worth doing when you are having difficulty even to pay the loan every month? Give it a try and you can save much.
The Eligibility Requirements of HARP Loan
If having significant amount of home equity does not matter that much in this program of WF mortgage refinance, what are the real requirements to be eligible for it? First, you need to be current on your own mortgage payments. Second, you need to make sure as well that you haven’t refinanced the same home under this program before. Third, your mortgage has to be one owned by Fannie Mae/Freddie Mac. It must be originated before June 2009 though. With that, you are eligible to apply for Wells Fargo mortgage refinance through the Home Affordable Refinance Program here.