Asked by bobe001a  |  Submitted March 29, 2017

We have an interest-only ARM and were not able to refinance the loan due to our debt-to-income ratio. What's the best solution for us now?

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  Answers  |  2

April 01, 2017

Check into the HARP refinance program. The loan has to be owned by Fannie or Freddie to do so. Other lenders have different guidelines, too. It's a good idea to shop around. Next would be to lower your debt or look at adding another borrower for income. I have many different programs that may work.

$commenter.renderDisplayableName() | 09.17.19 @ 02:18

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April 03, 2017

Visit http://www.moneytips.com/what-is-a-harp-loan for more info on HARP. You can see refi offers from top lenders with the MoneyTips Mortgage Planner.

$commenter.renderDisplayableName() | 09.17.19 @ 02:18

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