| Alternative Refinancing Options You Can Still Save Big by Refinancing Even without an FHA Loan on Your New Jersey Home! Even though the new FHA Streamline program is only designed for New Jersey homeowners who currently have an FHA mortgage loan, there are still attractive options if you you have another mortgage type. There are at least 4 additional refinancing programs available for those who have other types of New Jersey home loans. Feel free to contact us at 908-221-0304 Ext. 305 to determine if there are additional options available and for a free consultation to help you make the best and most cost effective decision. 1. VA Streamline Refinance  For New Jersey property owners with VA home loans you could qualify for a VA Streamline or IRRRL (Interest Rate Reduction Refinancing Loan). These streamlined refinance loans for New Jersey homeowners boast many of the same benefits as the FHA program.
They can be used to switch between fixed rate and adjustable rate mortgages, lower rates and payments and also require no appraisal, no money out of pocket and no credit to be pulled (unless requested by an individual lender). However, one great advantage of VA streamlined refinancing is being able to add up to $6,000 worth of financing for energy efficient home improvements into the new loan. Receive a FREE, No-Obligation VA Streamline Refinance Quote by completing our simple one-minute form here. 2. USDA Home Loans  New Jersey homeowners who currently have USDA mortgages
can also benefit from USDA refinances.
If your current New Jersey USDA mortgage rate is higher than the current rate,
you may be able to refinance.
The basic requirements for qualification are as follows: - The New Jersey mortgage to be refinanced has to be a USDA Loan (Guaranteed or Direct).
- The New Jersey mortgage to be refinanced must be current (not delinquent).
- The refinance should result in a lowering of the borrower's monthly principal and interest payments.
Contact Us at 908-221-0304 Ext. 305 if you have any additional questions about this program or complete the One-Minute No-Obligation USDA Loan Request form here to determine your eligibility and qualification level. A USDA Loan Specialist will contact you for a free consultation about the New Jersey USDA lending options available to you based on your unique situation. 3. HARP 2.0 - Help for New Jersey Home Owners Who are Underwater on their Existing Mortgage  New Jersey homeowners with Fannie Mae or Freddie Mac home loans originated before June 1st, 2009 could be eligible for the new Home Affordable Refinance Program (HARP), designed to assist those with conventional and conforming loans to refinance ad enjoy lower mortgage rates and home payments.
HARP 2.0 allows refinancing without paying down principal, mortgage insurance and for most means no money out of pocket, regardless of how much you owe on your home compared to its current value. Contact Us at 908-221-0304 Ext. 305 if you have any additional questions about this program or complete the One-Minute No-Obligation HARP 2.0 Request form here to determine your eligibility and to receive a free rate quote. 4. Refinancing Help for the Self-Employed While stated income loans have virtually disappeared making it incredibly difficult for self-employed borrowers to obtain a mortgage of any type in New Jersey today there is still help available. Self-employed borrowers run into the biggest issues when it comes to verifying their employment and as their tax deductions often dramatically reduce the amount of income available to qualify. Fortunately there are lenders and loan programs which will accept alternative methods of income verification specifically for the self-employed and New Jersey business owners. Don’t give up hope until you have pursued all financing options. Contact us at 908-221-0304 Ext. 305 or send us a message using
the form below to find out more about your
New Jersey refinancing options.
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