Editor’s note: The HARP program, designed to help homeowners who owed more than their homes were worth, expired Dec. 31, 2018. There are many good options for refinancing, so please contact us at your earliest convenience.
A shorter-term mortgage enables you to pay down the amount you owe much faster than a traditional 30-year mortgage. Furthermore, interest rates on shorter term mortgages usually are less than on 30-year mortgages. The lower interest rate may allow you to shorten the term of your mortgage without much change in your monthly payment and you will pay less interest over the life of the loan.
Source: Home Affordable Refinance Program.
As a mortgage broker, we work with lenders to get the best refinancing deal for you, whether or not you refinance with HARP.
Please contact us when you get ready to refinance. We’ll explain your refinancing options, show you the pro and cons while answering your questions, and work with the selected lending institution to get the best mortgage for you.
To learn more about HARP, see these articles: