05-09-2013 03:08 PM
Trying to help a relative who is looking at refinancing using the HARP 2.0 program. They have a 6.75% rate now, no missed payments ever on this loan, loan is from 2007 and is a Fannie Mae loan.
They do have a short sale on a different property from 26 months ago that had missed payments on it. Current credit score is in the low 700s.
Is DTI taken into consideration with a HARP refi? Are there closing costs and do they get rolled into the loan? What about mortgage insurance?
Thanks for any help.
myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.>> About myFICO