The new Homeowner’s Affordability Stimulus Plan (HASP) refinance loan is specifically catered to those borrowers who are current with their mortgage payments, and need 105% financing in order to take advantage of a lower interest rate.

With property values dropping across the nation, this program will come in extremely handy for those who don’t otherwise have enough equity in their home to refinance.
The number one stipulation for this program is that a borrower can ONLY use his current mortgage lender to take advantage of this program.
This loan is new to everyone in the industry, and is government mandated. Guidelines do not exist for the general loan officer population yet, so all applicants will be submitted to a central website for determining initial eligibility.
A few quick facts about this program:
- primary, vacation, and investment properties are accepted
- 105% loan to current market value
- mortgage insurance continues if currently on loan, and doesn’t continue if not currently on loan
- stated income and stated assets
- no debt-to-income calculations
- verbal verification of employment is necessary
Finally, it’s important to remember that this loan is susceptible to change at any time.

Contact your current lender or call me for more information.