Are You Eligible?

Many homeowners pay their mortgages on time but are not able to refinance to take advantage of today’s lower mortgage rates perhaps due to a decrease in the value of their home.  A Home Affordable Refinance will help borrowers whose loans are held by Fannie Mae refinance into a more affordable mortgage.  This program will allow extremely competitive rates you may not otherwise be able to qualify for.  Just be prepared to answer the following questions and contact us for more information:

•  Are you the owner of a one- to four-unit home? 
•  Do you have a loan owned or guaranteed by Fannie Mae?
  If you don’t know, click here : Fannie Mae Home Affordable .
•  Are you current on your mortgage payments?
  “Current” means that you haven’t been more than 30-days late on your mortgage payment in the last 12 months.  
• Do you believe that the amount you owe on your first mortgage is about the same of less than your current house?
  You may be eligible if your first mortgage does not exceed 105% of the current market value of your home. For example, if your property is worth $200,000 but you owe $210,000 or less on your first mortgage, you may be eligible. The current value of your property will be determined after you apply to refinance.

For more information, please email refiplus@phfsi.com .