Amazing New Programs

I love it - the opportunity to help Covenant customers find a solution. There is a new program that is now available called the Home Affordable Program - with this program you can refinance your first mortgage even if you are "upside down" up to 105%.

The new cash out limitations are now 85% for FHA loans and 80% for conventional loans -this is computed by dividing the new loan amount by the actual value of the property.

Also, many customers are confused recently because there home is assessed by the county or local jurisdiction in which they live at a much higher value than the homes actual worth. The only true way to know your homes value is to have an appraisal on the property. There are a couple of online tools that may give you a general idea of your homes worth - here are the links:
www.yahoo.com/realestate and www.cyberhomes.com

Rates are at historic lows - there are many new exciting programs available - give us a call at 888-780-8781 or visit our website at www.covenantfinancial.com to find out how company can help you be a better steward of your finances.