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.
Eddie Berger, director of solution consulting at Quicken Loans, explains one of the most important tools someone considering a mortgage should consider – the mortgage calculator. Mortgage calculators allow someone to find out what their payment and interest on a mortgage would be, and also if they could save money with a lower rate. There are four variables in a mortgage calculator – term, loan amount, payment and rate. As long as you know three of them, you can use a mortgage calculator to find the fourth. For example, if you know the term (30 years), loan amount ($200,000), payment ($900), then you would be able to find out what the rate is. In the previous example, if you knew the rate and the other two variables, you would find out the payment. This is probably the most common way mortgage calculators are used. Anyone considering a mortgage to buy a home or refinance should use a mortgage calculator to better understand the cost of a mortgage. For more information go to http://www.quickenloans.com/blog/ or call 800-QUICKEN.