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Rates are flat today. Today’s rates with no lender fees are 3.625% APR on a 30 year, 2.875% APR on a 15 year and 2.750% APR on a 10 year. (click here for details)

So are the rumors true? Now you’ve heard me talk about the HARP 2.0 version but now there is buzz about HARP 3.0 – yes, a THIRD version of the Home Affordable Refinance Program.
Check it out in today’s video:
Although no details have been released, there is general consensus that HARP 3.0 would allow underwater homeowners to refinance even if your mortgage is not owned or guaranteed by Fannie or Freddie – something that I have harped on you about as a prerequisite for HARP 2.0.
This is HUGE because while 90% of loans originated now are guaranteed and/or issued by the Big F’s, that was not the case from 2001-2007.
Private-label mortgage security loans were granted to millions of people during that time period. And guess what? These loans are EXCLUDED from the HARP 2.0 program – which means that these same millions are unable to take advantage of the program and refinance at today’s low mortgage rates.
Now that would change with HARP 3.0. I don’t mean to get your hopes up because there is NO guarantee this program will pass in Congress. So why am I even teasing you with this information. Well, because it’s fun
Seriously, I just want you to be aware of it and keep on top of the news to see if this new program gets pushed through. I will also be keeping you informed right here!
Now, my advice to you is to talk to your lender about the eligibility requirements for HARP 2.0. Every lender has different requirements, so make sure to shop around and compare.
And if you don’t know where to find a lender, well, I do. Feel free to contact me, and I will make sure to get you in touch with a Rates-in-Motion-approved lender.
Remember to forward and share today’s video, and try not to fight around the kids, they hate that.
If you thought this was good information or worth discussing, help me bring transparency to mortgage lending by sharing today’s episode on Facebook or Twitter.
Let’s change the way people shop for a mortgageā€¦forever!
– Mike
PS. To ask a question, get advice, or find out if you’re getting the best deal possible on your loan, just post a comment below.

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