HARP (Home Affordable Refinance Program)

HARP, Home Affordable HARP

What is HARP (Home Affordable Refinance Program)?  Millions of homeowners have seen the value of their home drop below the balance of their mortgages, or nearly so.  Also referred to as being “underwater” on your mortgage.  These homeowners have been prevented from taking advantage of lower interest rates because of owing more than their home is currently worth.

HARP is specifically designed for homeowners in the above situation, to be able to refinance with today’s historically low interest rates.

Qualifying criteria

  • Your mortgage must be own or guaranteed by Fannie Mae or Freddie Mac.  (we can help you figure this out if you are unsure)
  • Your loan was closed on or before May 31, 2009
  • HARP is scheduled to end on December 31, 2015.  So act now to take advantage of the historically low interest rates

Many companies say they offer the program but they actually don’t offer all of the HARP guidelines.  If you have been turned down?!  Call us!

  • If your loan is with Fannie Mae or Freddie Mac we offer unlimited LTV (amount you owe versus the value) 
  • If your current loan has mortgage insurance, that is no problem for us!

HARP 3.0?
There has been recent talk about offering a program for those homeowners who are “underwater” on their mortgage but their mortgage is not owned by Fannie Mae or Freddie Mac.  As of now, however, there is no program available.