Do you want to refinance but have low or no equity? You could be eligible to refinance with the Home Affordable Refinance Program (HARP) even if you’ve been denied in the past. HARP’s easy qualification requirements and streamlined refinance process have made it possible for nearly 3.5 million Americans to take advantage of today’s low rates since the program began in 2009.* To find out if you qualify for HARP, call us today at 800-QUICKEN or visit QuickenLoans.com/HARP-Program.
The adjustable rate mortgage (or ARM) is a home loan that begins with an initial fixed-rate period and then adjusts up or down, depending on market conditions. Millions of home buyers and homeowners can save money with an ARM because ARMs often offer lower initial mortgage rates than fixed-rate mortgages. ARMs are a great choice for people who move or refinance their home often and can save them thousands of dollars. At Quicken Loans, our adjustable rate mortgages come with an initial fixed-rate period of 5, 7 or 10 years. Because ARMs are amortized over a 30-year period and have a lower initial rate, ARMs can offer a very low payment and can free up money for other purposes. This is a top reason why ARMs are the mortgage of choice for the financially savvy. To learn more about ARMs, go to http://www.quickenloans.com/home-loan… or call 800-QUICKEN.
Mortgage subordination occurs when a homeowner has more than one mortgage on a home, such as a home equity loan or a home equity line of credit,and refinances. The company that lent the home equity loan much “subordinate” their right to be paid off in order for the main mortgage to refinance. Learn more from this great video in our Quicken Loans Blog Education Series or go to the blog at http://www.quickenloans.com/blog