Grand Rapids, MI, USA - Unlimited LTV Freddie Mac HARP refinance through the Open Access Refinance Program is now available. HARP Open Access assists borrowers who are making timely mortgage payments, but have been unable to refinance due to declining home values. The program helps home owners to better their financial positions for successful, long-term homeownership.

The program has recently been adjusted to allow home owners to qualify, regardless of the loan to value on their home. Previously, lenders imposed LTV caps of 105% or over 125%, which limited those that would qualify. Riverbank is proud to announce that it is now offering Unlimited LTV for Freddie Mac HARP loans. This means that even if a home value has dropped significantly, a borrower may still be eligible to reduce their mortgage interest rate through this government program.

Open Access HARP Program Features Include:

- Unlimited loan-to-value (LTV) for fixed rate loans.

- Relief from standard mortgage insurance requirements.

- Reduced income and asset documentation requirements.

- 620 minimum qualifying credit score.

- No appraisal is necessary.

- The closing costs are low.

- Most banks do not do this program.

- Refinancing does not have to be with current loan servicer.
Freddie Mac HARP Eligible borrowers must meet the following criteria:

- Available to existing borrowers who have a first-lien, conventional mortgage currently owned or securitized by Freddie Mac settlement date on or before May 31, 2009.

- Designed to assist borrowers who are making timely payments, but have never been able to refinance due to declining property values.

- Home Owners who have paid their mortgage payments on time for the past 12 months (with no 30 day late payments).

HARP ELIGIBLE PROPERTIES:

- Owner-occupied principal properties

- 1-unit second homes

- Non-owner occupied investment properties

- Attached/Detached dwellings

- Owner-occupied manufactured housing properties

The Freddie Mac Open Access Program is set to expire in 2013 and is only available for a limited time. Contact a mortgage loan officer for program information and eligibility questions.

About Riverbank Finance LLC:
Riverbank is a Michigan mortgage company that specializes in helping Michigan homeowners reduce their mortgage payments through refinance programs as well as assists home buyers with mortgage options.

Visit http://riverbankfinance.com/ for more information.

Source: http://marketersmedia.com/freddie-mac-harp-refinancing-with-unlimited-ltv-now-available/5191