Product Rate APR
30-Yr Fixed 3.875% 4.083%
15-Yr Fixed 3.250% 3.614%
*updated as of 1/15/2018 quoted rates reflect good credit scores with a 20% down payment on $160,000 home - offer may terminate at any time without notice - rate and annual percentage rate calculated on a 365 day year with typical/normal closing costs, Rates/APRs subject to change with closing costs - properties and applicants must quality - other restrictions may apply.


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Updates in HARP Program
Freddie Mac Details Refinancing Changes Under HARP Program

Updates in HARP Program

11/16/11 NEW YORK (Dow Jones)--Freddie Mac on Tuesday said it made numerous changes to its guidelines for home loan refinancings to increase the eligibility of borrowers under the federal Home Affordable Refinance Program, or HARP. The revisions, done with approval of their regulator, include ways to reduce some potential liabilities to lenders asked to refinance some of the loans that are seen as higher risk. Specifically, Freddie Mac said it would remove the requirement that the lenders legally assure that the mortgage to be refinanced met the company's eligibility requirements in purchase documents. The anticipated move is seen as one way of removing some doubt among lenders of their responsibility for the initial loan, according to analysts. The change in Freddie Mac's "representation and warranty" policy is for loans with balances greater than 80% of a property's value. The company also removed the maximum loan-to-value ratio of 125%. Revisions were largely anticipated, and come after the Federal Housing Finance Agency in October said will allow refinancing of loans guaranteed by Fannie Mae and Freddie Mac no matter the home's value, and will extend the term of its HARP through 2013. It said that some liabilities to banks would be waived, but left many details to be delivered this month. Since 2009, only 894,000 borrowers have used the HARP, of which just 70,000 were significantly underwater. The FHFA last month said changes "may roughly double or more" the number of homeowners who enroll