Investment Homes Qualify for HARP

Joe would like to know what his options are under HARP 2.0 for investment homes. He has a home on a Freddie Mac loan currently and asked Robert Palmer if he would qualify given his situation.

An investment property should qualify for the HARP with little to no problems. The one stipulation is that you may have to go back through your original lender. Though we encourage people to shop around, according to many of the policies out there on the investment property side, a lot of lenders do not want to take on other lenderâ??s clients. On a primary residence or a second home, most lenders will be offering the HARP program and there will be a lot of competition between them. In this instance you can definitely shop around and try to get the best deal. On the investment property side, though, there will be a much lower number of lenders who are participating. In a lot of cases, you may have to return to your original servicer. You will still be able to take advantage of a lot of savings. The rates wonâ??t be quite as low as on owner occupied homes, but you will still see some great benefits.