Cheapest Home Loan
If you own a home and want the cheapest home loan possible, the Obama Administration has recently unveiled a new program for current home owners called Making Home Affordable.This is a program where you can modify or refinance your existing home loan to reduce your monthly loan payment to a cheaper amount. You can get immediate help at the Homeowner’s HOPE hotline at: 888-995-HOPE (4673).
There are 4 programs to get you the cheapest home loan available.
The Home Affordable Refinancing – If your loan is held by Fannie Mae or Freddie Mac and you want to refinance into a more affordable mortgage – this program is for you. In order to qualify for this program you should be making your mortgage payments on time.
Home Affordable Modification – If you are having a hard time making your monthly mortgage payment, possibly due to a job loss or increased interest rates, and need a cheaper loan this program may be right for you. In order to qualify, you will have to show proof that you will be able to make the lower payments. One question to see if you qualify is “Is your payment on your first mortgage (including principal, interest, taxes, insurance and homeowner’s association dues, if applicable) more than 31% of your current gross income?”
Related posts:
- Bad Credit Mortgage Info Looking for information on home mortgages for good people with...
- Interest Only Mortgage Info Looking for information about Interest Only Mortgages? Check out interest-only-mortgage.info....
- Reverse Mortgage Tips Are you interested in learning more about reverse mortgages? First...
- Low Income Mortgage Owning your home gives oneself a sense of pride, security...
- Bad Credit Mortgage Tips Great information about Bad Credit Mortgage...