HARP Program (Home Affordable Refinance Program)

The HARP program will be available to 4 to 5 million homeowners who have a solid payment history on an existing mortgage owned by Fannie Mae or Freddie Mac.  Normally, these borrowers would be unable to refinance because their homes have lost value, pushing their current loan-to-value ratios above 80%.  Under the HARP program, many of them will now be eligible to refinance their loan up to 125% LTV to take advantage of today's lower mortgage rates or to refinance an adjustable-rate mortgage into a more stable mortgage, such as a 30-year fixed rate loan. 

The Home Affordable Refinance Program (HARP) ends December 2013.

• 125% LTV Max (i.e. $350,000 Loan/$280,000 Property Value)
  

• 620 Minimum FICO Score
  

• DTI (Debt To Income Ratio 55% Max)
  

• Must be current on payments
  

• Must not have PMI on Freddie loan. Fannie PMI up To 95% LTV
  

• Must be owned by Fannie Mae or Freddie Mac (check below)
  

• Loan Amounts Up To $625,500 (loan must be before 6/1/2009)
  

Fannie Mae Site    http://loanlookup.fanniemae.com/loanlookup/

Freddie Mac Site   https://ww3.freddiemac.com/corporate/

Free Property Value  http://www.zillow.com/homes/

Free Credit Score      http://www.creditkarma.com/

Start now to refinance your mortgage, apply here

Note: You must have a Fannie Mae or Freddie Mac loan for HARP

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Download the official program

HARP_Program.pdf

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HARP_2.0_Program.pdf

HARP 2.0 Starts 1st Qtr. 2012

Apply Now Up To 125% LTV