HARP - Home Affordable Refinance Program

If my mortgage is held by Fannie Mae or Freddie Mac, am I instantly-eligible for that Home Affordable Refinance Program?

No. There's a number of criteria for that new 20112 HARP home loan. Getting your mortgage held by Fannie Mae or Freddie Mac is only a pre-qualifier.

My mortgage is held by Fannie or Freddie. Now what will i do?

Look for a current home loan statement and write “Fannie Mae” or “Freddie Mac” onto it - no matter what group backs your property loan - so you don’t forget. Give that information to your lender once you submit an application for your HARP home loan.

Imagine if neither Fannie Mae nor Freddie Mac has a record of my mortgage?

If neither Fannie nor Freddie has record of your mortgage, your loan is ineligible for that HARP home loan. However, you might still be entitled to “regular” refinance to lower rates. Use our online form to get a rate quote to talk to your options. Or, if your mortgage is protected by the FHA, use the same form or e mail us. Just like the new 20112 HARP home loan the FHA Streamline Refinance assists under value home-owners, too.

Does HARP work exactly the same with Fannie Mae much like Freddie Mac?

Yes…absolutely, generally, the HARP home loan is similar with Fannie Mae as with Freddie Mac. There are a few small differences, however they affect just a tiny, tiny portion of the general population. For everybody else, the rules work the same.

Am I eligible for the Home Affordable Refinance Program if I’m behind in my mortgage?

No. You need to be current on your mortgage to acquire a HARP Refinance. Will a HARP Refinance help me prevent foreclosure? No. The new 20112 HARP home loan just isn't designed to delay, or stop, foreclosures. It’s designed to give everyone who is current on their mortgages, and who have lost home equity, an opportunity to refinance at today’s low mortgage rates.

Which are the minimum requirements for any HARP Refinance?

First, your property loan should be paid on-time for your prior 6 months, and a minimum of 11 of the most recent 12 months. Second, your mortgage should have been sold to Fannie Mae or Freddie Mac ahead of June 1, 2009. And, third, you might not have used the HARP home loan before - only one HARP refinance per mortgage is allowed.

If I refinanced with HARP not too long ago, can one use it again for HARP II?

No. You are able to just use the HARP mortgage program once per home.