mortgage center

 

Special Mortgage Programs

The Boulder Valley CU Mortgage Department is currently offering the following special mortgage programs.

Home Affordable Refinance Program (HARP)

If you are making your mortgage payments on time but are still unable to refinance in order to take advantage of today's low mortgage rates, the HARP program may be an affordable refinance option for you - the homeowner who would not otherwise qualify for a traditional refinance.

Why refinance under HARP?

  • Receive lower rates even if you have little or no equity in your home.
  • Reduce monthly mortgage payments when you refinance to a lower rate.
  • Save on interest over the life of your loan when you refinance to a reduced term.
  • No mortgage insurance is required on your new loan if none was in place on current mortgage at the time of origination.
  • No property appraisal required in some situations.

You may be eligible to refinance under HARP if:

  • You are current on your mortgage payment, with no late payment in the past six months and no more than one late payment in the past 12 months.
  • Your existing loan was sold to Fannie Mae before May 31, 2009.
  • You have not already refinanced the same property in the past under the HARP Program.
  • Your existing loan is owned or guaranteed by Fannie Mae.

Check your Eligibility

If your mortgage is owned or guaranteed by Fannie Mae, you may be eligible to refinance your mortgage under the enhanced and expanded provisions of HARP. You can determine whether your mortgage is owned by Fannie Mae by checking the following website:

Fannie Mae Loan Look Up

If your loan is listed, then please contact us, so that one of our Mortgage Loan Officers can complete the eligibility check.