Harp Loan in Florida - 200%+ LTV

The HARP program is capped at 125% LTV so ANY lender willing to refinance you with reasonable terms you should immediately accept...I've not seen anyone with an LTV that high get refinanced.

I'm talking bout HARP 2 as well...when I say capped at 125% LTV I'm saying that I've not seen any lenders willing to go above 125% LTV (most will not go over 105%), sorry that was confusing. The reality of the HARP program is that regardless of what the program says about supposedly unlimited LTV, HARP does not lend money the lenders do and they have their own rules that are referred to as "overlays".

I have done loans with LTV's at 250% with a rate of 4% and low costs

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You might be looking at a internet online company, i have ran into them for borrowers in florida.. they will charge up to 10,000 in origination fees.. but the real question here is ,, are you a fannie mae or a freddite loan?? linda

If your current mortage balance (first mortgage alone) is over 125% of the balance I agree with Travis that you should serously consider it. If that 200% figure includes a 2nd mortgage or home equity loan that is a different story. There are a few lenders that will go over the 125% (we can depending on who has the current mortgage), and it may make sense to talk to your current lender (even if that means "holding your nose...".)

Hi Grobin,Although a lot of lenders aren't going over 125%, there still are some that offer the true unlimited ltv. Usually above 125% though, they add a couple restrictions such as credit needing to be above 680 and tighter debt to income ratios. Like Ralph, my rate for that today would be 4% with low costs, so based off of what you were quoted, I would definitely shop around. If you would like any direction, feel free to contact me and I'll help in any way I can.

HARP is not capped at 125% that would be a specific lender overlay. When HARP was first announced we had lenders that would close these at any LTV. Many lenders have place overlays on the HARP program but 200% is still out there.