Refinance Loan Programs

HARP Loans


HARP is part of the U.S. Government’s Making Home Affordable program. If you are having difficulty refinancing due to a lack of equity in your home, the Home Affordable Refinance Program may be able to help.



More than ten million Americans are “underwater” on their home mortgages. Because of low Loan to Value ratios, many have been denied traditional refinancing. Since the introduction of HARP, hundreds of thousands of families in this situation have been given another chance, and have taken advantage of historically low interest rates and the other benefits HARP offers. With HARP, borrowers may:

  • Lower monthly payments.
  • Reduce interest rates.
  • Build equity faster.
  • Pay off loans sooner.



There are some basic requirements that must be met to qualify for HARP.

  • The mortgage must be owned or guaranteed by Fannie Mae*.
  • The mortgage must have been sold to Fannie Mae on or before May 31, 2009.
  • The mortgage cannot have been refinanced under HARP previously unless it is a Fannie Mae loan that was refinanced under HARP from March-May, 2009.
  • The current loan-to-value (LTV) ratio must be greater than 80%.
  • The borrower must be current on the mortgage at the time of the refinance, with a good payment history for the past 12 months.


*You can determine whether your mortgage is owned by Fannie Mae by checking the following Web site:

**Some exceptions to these criteria may apply. Contact one of Oaktree Funding’s’ mortgage experts to learn more.


HARP 2.0 is a government sponsored program, and is slated to expire at the end of 2013. If you think you may qualify for HARP, the time to apply is now.

Complete your free loan application or request a free loan analysis online today.

If you’d rather speak to someone in person, or have questions about HARP, give us a call. Our dedicated mortgage experts are available seven days a week to help find the right loan for you.






FHA Streamline Refinance Loan

Times have been hard for thousands of  homeowners who have lost equity in their properties. In order to make it easier for underwater borrowers throughout the country to refinance into today’s historically low interest rates, the Federal Housing Administration created the Streamline Refinance Loan.

The FHA streamline loan helps  homeowners to reduce their monthly payments even if they don’t have equity in their homes.

FHA Streamline Refinancing helps  Homeowners:

  • Lower monthly payments. colorado-fha-streamline-refinance-loan
  • Reduce interest rates.
  • Build equity faster.
  • Pay off loans sooner.


FHA Streamline Refinance Eligibility

You must have financed your original home purchase with an FHA backed loan in order to qualify for the FHA Streamline Refinancing loan.

Beyond that, you will need to:

    • Have a perfect three-month payment history with no more than one late payment in a 12-month period.


    • Wait at least 210 days after their last loan closed and have made at least six mortgage payments before they can refinance.


    • Gain an obvious advantage by refinancing, such as reduced monthly payments or lower overall interest rate.


    • The loan amount cannot increase and you will need enough cash to cover closing costs and fees.


    • Know that mortgage insurance premiums are higher when replacing loans endorsed after June 1, 2009 than for loans endorsed before then.


What borrowers don’t need for FHA Streamline:

  • A new appraisal
  • A full credit report
  • Employment and income verification


Apply for FHA Streamline Refinancing

The mortgage experts at Oaktree Funding will be happy to answer any questions you might have about refinancing your home mortgage with the FHA Streamline program. Our mortgage professionals are extremely familiar with FHA loans and refinancing programs and can easily guide you through the process.






VA Streamline Refinancing

The Department of Veterans Affairs developed its Interest Rate Reduction Refinance Loan to help veterans  throughout the country refinance their underwater mortgages and reduce their monthly payments.

IRRRL Advantagescolorado-va-streamline-loans

With interest rates near record lows, it’s a good time for many veterans to refinance their home mortgages. Fortunately, this program makes it easier to do in today’s economy, when many  home owners owe more on their loans than the current market values of their houses.

The VA IRRRL does not require a new appraisal or full credit report, and veterans can refinance even if they’re underwater. IRRRL even allows veterans to roll closing costs and fees into the new loan in order to avoid any out-of-pocket expense.

The VA’s IRRRL can help borrowers:

  • Lower monthly payments
  • Reduce interest rates
  • Build equity faster
  • Pay off loans sooner


VA IRRRL Eligibility

You have to have originally financed your home with a VA-guaranteed mortgage in order to qualify for IRRRL. The VA will not refinance a loan that isn’t a VA loan.

    • You will need to have your Certificate of Eligibility from your original home purchase or instruct your lender to use the VA’s email confirmation procedure in lieu of a certificate.


    • You do not need to get a new VA Certificate of Eligibility.


    • Certify you have been the primary occupant of the home.


  • You won’t be able to borrow any more than the original loan amount on the primary mortgage, which means second mortgage will have to agree to subordinate the new loan.


Apply for IRRRL

If you have more questions or want to get started on the IRRRL, contact the mortgage experts at Oaktree Funding. Our knowledgeable staff has been working with military servicemen and women for decades and we know how to quickly and efficiently process VA loans and VA streamline refinancing loans. Not all lenders have Oaktree Funding’s experience serving the state’s military men and women, but we have always made it a priority to serve those who serve our country.



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