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What are the eligibility criteria for a Home Affordable Refinance?

April 26, 2017affordable criteria eligibility Home Refinance

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What are the eligibility criteria for a Home Affordable Refinance?

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• The property must be owner occupied, • The borrower must have sufficient income to support the new mortgage debt, and • The first mortgage may not exceed 105% of the current market value of the property. For example if the property is worth $200,000, the borrower must owe $210,000 or less.