Lower your payment. Consolidate debt. Pay your home off sooner.
Rates are still at historically low levels. Don’t miss your chance to take advantage of mortgage rates at their lowest in several decades. Use our Refinance Calculator(on the Right) to see how a new rate and term could lower your monthly mortgage payment.
Owe more than your home is worth?
Honor Bank offers HARP, a unique refinance program that enables eligible borrowers with little to no equity in their homes to take advantage of low interest rates and other refinancing benefits. There have been several changes to HARP, but the primary enhancement removed the limit on the amount that homeowners could be “underwater” (owe more on their mortgage than their home is worth). With that change, many homeowners who were not eligible will now qualify. Program ends December 31, 2015. HARP may be an option if:
- You have had a good payment history for the past 12 months. That means having no late payments in the last 6 months and no more than one 30-day late payment from 6 to 12 months ago.
- Your home is your primary residence, 2nd home or investment property.
- Your home value has decreased.
- You have limited equity or your first mortgage exceeds the current market value of the home (i.e., your loan-to-value ratio must be > 80% to be eligible).
- Your loan was acquired by Fannie Mae on or before May 31, 2009 (this date can be found in the Fannie Mae Loan Lookup tool).