Purchase Program Allows 1/2% Down Payment


You can purchase a home with a 1/2% down payment.  That’s a down payment of $875 for a purchase price of $175,000!  This program requires 2 loans, a FHA 96.5% first mortgage and a 3% second mortgage.  The second mortgage is a 15 year fixed mortgage.  The second mortgage can be used to cover closing costs as well as a down payment.  This program has provided over 7.2 billion dollars of 1rst and 2nd mortgage financing and helped over 53,000 families purchase homes since 1993.

Please contact Chris Rosner at 480-227-6944 or chrisrosner@cox.net, if I can help you or someone you know purchase a home.




Renaissance Lending Group, LLC

Mortgage Planning Professionals

Web: www.renlendinggroup.com

Email: chrisrosner@cox.net

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New Program Helps Borrowers Refinance

Chris Rosner

By: Chris Rosner
Tempe, AZ

If you believe that refinancing your home is impossible because you owe more than your home is worth or that by refinancing you would need mortgage insurance because you have little equity in your home, this program is for you.  The Harp 2 (Home Affordable Refinance Program) offers a pathway for underwater and low equity home owner’s to refinance at today’s low rates without the need of mortgage insurance.  The HARP 2 guidelines are outlined below.

This program has the potential to help lots of homeowners.  I am in the process of helping a family that owes $190,000.  Their home will be valued at somewhere around $120,000.  They currently have a fixed loan at 5.50%.  The HARP program will allow them to refinance at 4.00%, with no appraisal, and lower their monthly payments by over $170.  Additionally, their income is significantly less than it was in 2010.  The HARP program does not require lenders to re-qualify borrowers unless the new payment is 20% more than the old payment.


Please let me know if I can help you.


Chris Rosner

Owner/Broker Renaissance Lending Group, LLC



Chris Rosner

HARP Refinance Guidelines 

Your loan must be backed by Fannie Mae or Freddie Mac.

Your mortgage must have a securitization date prior to June 1, 2009.

FHA, USDA or a jumbo mortgages, are not eligible.

Your mortgage must have been paid on-time for the past 6 months, and at least 11 of the past 12 months.

Regardless of how far underwater you are, home value will not affect qualification.

In most cases, an appraisal will not be needed.

If your current mortgage does not require mortgage insurance, your new loan will not require it.

The loan limit is $417,000

Second homes, vacation homes, investment properties and condominiums are eligible.

Closing costs can be included.

You do not need to be employed.

Applicants do not need to be “re-qualified” unless their new principal + interest payment increases by more than 20%.

You must close on your mortgage prior to January 1, 2014.