Pennsylvania Mortgage News: April 2012

your guide to the Pennsylvania Mortgage Market * Programs * Rates * Information *

Qualifying for a Pennyslvania HARP Mortgage


Qualifying for a Pennsylvania HARP Mortgage


■ only for mortgages currently owned or backed by Fannie Mae or Freddie Mac prior to June 2009
■ no deliquent mortgage payments in the last 6 months and only a total of one 30 day late payment is allowed in the last 12 months
■ no cash out or paying off other debts allowed with this program
■ no maximum Loan to Value (LTV) for new Fixed Rate Mortgages
■ 105% maximum Loan to Value (LTV) for those seeking a new Adjustable Rate Mortgage through the HARP program
■ first time HARP users only, if you closed a mortgage under previous HARP editions, you can not apply for this new edition
■ current home does not need to be a primary residence as long as the home was first purchased as a primary residence
■ any 2nd mortgages on property will have to be subordinated by the current 2nd mortgage holder, this depends on the 2nd mortgage holder agreeing to this
■ if the current mortgage has monthly Mortgage Insurance, the new mortgage must also have the same level of Mortgage Insurance

 

More information can be found at...

 


http://pennsylvania-harp-mortgage.com

 

 

 

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Keith Landis is a Licensed Mortgage Loan Officer covering all of Pennsylvania.  He can be reached directly at 412-567-6560 at klandis@keystonehomefinance.com 

NMLS # 137243

 

Keystone Home Finance LLC - NMLS# 834342

 

www.keystonehomefinance.com

 

Comment balloon 0 commentsKeith Landis • April 15 2012 04:44AM
Qualifying for a Pennyslvania HARP Mortgage
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Qualifying for a Pennsylvania HARP Mortgage ■ only for mortgages currently owned or backed by Fannie Mae or Freddie Mac prior to June 2009 ■ no deliquent mortgage payments in the last 6 months and only a total of one 30 day late payment is… more