Farmington's Mortgage One Helping Homeowners Access HARP Program
Mortgage One, Inc. of Farmington Offers Full Range of Financing Options for "Underwater" Owners
Farmington, MI, July 24, 2014 (Newswire.com) - Mortgage One, Inc., located in downtown Farmington, is offering a full range of financial services including information on thousands of special low-interest loans available for owners interested in refinancing their homes.
An estimated 676,000 loans are eligible for the federal Home Affordable Refinance Program (HARP), according to government officials, and thousands are available in the Greater Detroit area served by Mortgage One.
The downtown Farmington firm handles all categories of mortgages, financial planning, financial services, loans and investments and assists clients in securing the most affordable plans.
HARP officials recently announced there are more than 44,000 loans eligible for the unique refinancing program in Michigan. The state ranks behind only Ohio and Florida in the number of eligible borrowers nationwide.
Borrowers who took out home loans before June 1, 2009, and have less than 20 percent equity in their homes are eligible, provided the loans are backed by Fannie Mae or Freddie Mac. The only qualification is they must be current on their loans with only one late payment in the past year.
Mark Heppard, Mortgage Loan Officer at Mortgage One, is mentoring and educating borrowers and new homebuyers to help them get pre-approved for loans.
“The dramatic changes in our industry have necessitated a high level of education to keep pace,” Heppard said. “Over the years I have built a great team and developed the knowledge necessary to give clients the best possible experience.”
Heppard has been a trusted financial advisor for nearly three decades and was named one of the nation’s top 200 loan originators by Mortgage Originator magazine for 13 straight years.
The HARP plan was developed for borrowers who have loan balances slightly higher than their property values so they can take advantage of low interest rates. The program was expanded to cover “underwater” owners who owed more on their mortgages than their homes were worth.
HARP is designed to help them get a new, more affordable and stable mortgage. HARP refinance loans require a loan application and underwriting process that Mortgage One can help facilitate.
Downtown Farmington's Mortgage One a full-service financial resource center that has been serving the community for more than 20 years. It offers many different government loan programs with low or even no down payment options.
Mortgage One also has information on many government loan programs that allow for down payment assistance from local municipalities along with expertise in FHA, VA and Rural Development loans.
For more information HARP and all mortgage programs in the area, contact Mark Heppard at Mortgage One, visit their website at mortgageone.com or call (248) 474-8470 or email MHeppard@TheMutualTeam.com.
Categories: Real Estate