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The Government Refi Program Banks
Don't Want You To Know About
Banks can't afford to tell you about this: there's a government program created specially to help homeowners refinance their mortgages and save money. One of the many incredible features of the program is that it is Free to use.

It's called HARP, which stands for "Home Affordable Refinance Program", and despite launching early in 2009, less than 0.5% of people have taken advantage. It seems that very few homeowners know about it, or know how to use it, so most folks are missing out. HARP is designed to help you get a new, more affordable, more stable mortgage. It provides a once in a lifetime bailout and could be helping millions of homeowners save a substantial amount of money. Many homeowners who have participated in this incredible Government refi program have reduced their mortgage payments by thousands per year. The program itself is totally free and doesn't add any cost to your refi, and is set to expire in 2015, but there is still time to lock in the benefits of this refi bailout, as long as you take advantage before the deadline. As many as 700,000 homeowners could still benefit from a HARP refinance. SEE IF YOU QUALIFY>>
HARP helps homeowners get a better, more affordable mortgage. If you qualify and refinance through HARP, you may be able to take advantage of a number of significant benefits, such as eliminating up to 15 years of mortgage payments (and a LOT of interest), changing to a lower monthly payment, or refinancing at historically low rates. As it is a government program, HARP is totally free and doesn't add any cost to be matched with lenders. See if you qualify >>
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The President passed HARP to provide a boost to the middle class, the engine of the economy. It's about time hard working homeowners got some help from the government, as Wall St. certainly has. The Home Affordable Refinance Program was created so that homeowners who owe less than $625,000 on their homes can get some much needed mortgage relief.



There are a number of reasons, from lack of promotion, to homeowners' general distrust of government involvement. But probably the main reason, the dirty little industry secret, is that the Banks don't want you to benefit from the program. They hate it because it allows homeowners to switch lenders when they weren't able to before, taking millions out of their pockets and putting it back into the pockets of everyday people. If you feel like you are being ripped off by your lender with a really high rate, you probably are. HARP can help you switch to a new lender, one prepared to offer you today's low rates, and you could save huge.


Here's an example of how much you could save if you switched from a 6.25% mortgage into a 3.25% mortgage:


There are hundreds of lenders out there, and it's a daunting task to figure out who is giving you the best deal. That's where online services like Lower My Bills can help. You fill out a simple form, which only takes a few minutes, and they search their network of lenders to find the best matches for you. Most of the lenders on their network allow qualified homeowners to use HARP: they know this program helps them give you a great deal, and they know they have to give you a great deal if you're going to make the switch. There's absolutely no cost to be matched with lenders, see if you qualify
President's Video, FHFA Press Release, Fannie Mae Research Over $100,000 savings estimate is based on $82 a week over a 30 yr loan from June 2007.

Average monthly savings from http://www.freddiemac.com/finance/pdf/RefiReport2013Q3.pdf

In the President's State of the Union address, he told homeowners that if they refinanced at today's historically low rates, they could save upto $3,000. This statement can be found in the State of the Union transcript - http://www.whitehouse.gov/the-press-office/2012/01/24/remarks-president-state-union-address. Additionally, homeowners who refinance from 30 year fixed mortgages to 15 year fixed mortgages can save up to $145,000. Further information for this can be found at http://www.nytimes.com/2011/08/21/realestate/exploring-the-15-year-loan-for-refinancing-mortgages.html

Under provisions of the Making Homes Affordable Act(a.k.a. HARP 2.0), signed into law by President Obama, Fannie Mae has removed certain loan refinance requirements for qualifying loans including the Loan-To-Value (LTV) ceiling for fixed-rate mortgage, property appraisal, minimum credit score & credit check, and eliminated & lowered certain fees for borrowers making it easier to refinance into a lower rate mortgage, effectively reducing the amount of interest paid (and owed) over the life of the loan.More info: http://www.fhfa.gov/Media/PublicAffairs/Pages/FHFA-Fannie-Mae-and-Freddie-Mac-Announce-HARP-Changesto-Reach-More-Borrowers.aspx

A shorter term mortgage enables such borrowers to pay down the amount they owe much faster than a traditional 30-year mortgage. Furthermore, interest rates on shorter term mortgages usually are less than on thirty-year mortgages. More information can be found at http://harpprogram.org/faq.php

The Making Home Affordable Program is set to expire December 31, 2015 and is free http://www.makinghomeaffordable.gov/about-mha/Pages/default.aspx but standard refinance fees will still apply.

LowerMyBills, Inc. is not acting as a lender or broker. The information provided by you to LowerMyBills is not an application for a mortgage loan, nor is it used to pre-qualify you with any lender. If you are contacted by a lender or broker advertising within our network, your quoted rate may be higher depending on your property location, credit score, loan-to-value ratio, debt-to-income ratio, and/or other factors. LowerMyBills does not offer its matching services in all states.This loan may not be available for all credit types, and not all service providers in the LowerMyBills network offer this or other products with interest-only options.