HARP Refinance Program

The Home Affordable Refinance Program is available through June 2011 and allows home owners to refinance into low mortgage interest rates even if they're property value has gone down.

Because many homes have lost value over the last several years, many homeowners have been unable to refinance.  Traditionally, mortgage lenders require a significant amount of equity (or value over mortgage balance) to approve a mortgage refinance.  The HARP program was designed to allow borrower's with a loan owned by Freddie Mac to refinance, with a new loan balance up to 125% of their current appraised value.

The key advantages & requirements of a Home Affordable Refinance are:

  • Home must be owner occupied
  • Property can be 1 to 4 units for a primary residence
  • Current mortgage loan must be owned Fannie Mae or Freddie Mac
  • Mortgage must be paid current and up-to-date
  • Loan-to-value (LTV) can be no more than 125%


To find out if your loan is owned by Fannie Mae Click Here

To find out if your loan is owned by Freddie Mac Click Here

If your loan is owned by either, a participating lender can further evaluate your eligibility.  To contact one, fill our the convienent 4 step form to the right.

The HARP loan guidelines extend the traditional underwriting guidelines to allow these home owners an opportunity to refinance.