HARP Refinance Checklist

Step 1.  Determine If Your Loan Is Backed By Fannie Mae or Freddie Mac
You can check “lookup” forms on the Fannie Mae and Freddie Mac web sites. However, keep in mind that these web forms are not always accurate as the address would have to be exactly the same as was recorded with Fannie or Freddie.

Step 2.  Submit Your Personal Information By Completing Our Secure Online Application

Step 3.  You need to gather the following for HARP Approval:

• Details of your residential addresses for the last two years is mandatory along with some documentation of proof of residence like your passport, social security card, electric or telephone bill.
• A copy of your latest pay stub (Prior 30 Days) showing gross salary for the month
• W-2’s to confirm last two years’ employment history.
• Last Year’s Tax Returns
• Bank account details for both current and savings accounts need to be included by enclosing copies of bank statements.
• Copies of your social security cards need to be included.
• Copy of your current mortgage statement.
• Copy of Driver’s License.
• Also submit addresses and name of employers during the preceding two years; declaration on ownership of any other property; current value of the property owned by you; DD-214 form and eligibility certificates for veterans and other detailed information on any outstanding loans.

Fax or scan all the items from Step 3 to a PacAlly Certified Mortgage Professional

An important thing to remember is that applying for a HARP loan in California may initially be quite confusing given the number of forms that need to be completed and you must realize that the organization is not your money lender, but an insurer of your loan from a bank or financial institution. However, do not make the mistake of applying for large credit lines, buying new vehicles or increasing your credit card limit. This will undoubtedly negatively affect the income to debt ratio and could disqualify you from getting a HARP loan.

One last tip:  your papers must be absolutely current, valid and in order. Failure to enclose even one minor document can disqualify you. When going to submit your papers, make sure that you carry all originals that may be verified against enclosed copies if required. These include bank statements, check stubs and all assorted loan papers which the authorities have every right to check and may ask from time to time while processing your application.

If you have any questions or concerns, please don’t hesitate to call our offices to speak with a Certified Mortgage Professional today at: 1(855)940-HOME