H.A.R.P. – Government Home Affordability Refinance Program

HARP – Home Affordability Refinance Program

HARP Home Affordibility Refinance ProgramRefinanceHARP or Home Affordability Refinance Program is a program established particularly for the home owners whose property has lost value and the owners can’t access a refinance mortgage.

As rule of thumb, banks will give you a refinance mortgage only if the equity of your property is higher than your mortgage balance. Therefore, if the value of your property has gone down (due to economic crisis), it’s impossible to access the refinance mortgage. To help people facing this quandary, the HARP program was created. Get a free rate quote, Call now! 877-976-5669


Steps to Follow To Access the H.A.R.P.

The first step that you should take to secure the refinance mortgage is to ask your mortgage service (the company where you pay your mortgage) if they participate in the HARP. If the service does not participate in the HARP program, you should look for another company that participates in the program.

If your company offers the program, you should contact Fannie Mae or Freddie Mac to verify if your mortgage is owned by them. In addition, you should verify if you qualify for the program.

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What You Need To Qualify For the HARP

  • To qualify for the program, your mortgage must be guaranteed or owned by Freddie Mac or Fannie Mae. In addition, your loan must be sold to Fannie Mac or Fannie Mae on or before the first of June 2009.  In addition to this, you must satisfy the following:
  • You should be current in the payment of your mortgage. This means that within the past one year, you have been more than one month late in paying your mortgage only once.  In addition, you should not have a USDA, FHA or a VA loan before applying for the refinance.
  • You must also ensure that your mortgage is of a larger amount than the equity of your property at the moment.  Furthermore, you should ensure that the outstanding amount of your mortgage is less than 125% of the current value of your property.
  • The mortgage must not have been refinanced before under the HARP.

These are the qualifications that you need in order to be eligible for the refinance mortgage. After you are proven that you are qualified for the mortgage, you are required to fill and submit a loan application form. In addition, you should pay a refinance fee.


Great Features of the Government Home Affordability Refinance Program

The program has many great features. Among the many features are: low closing costs, lenient underwriting, no appraisal required, no need to prove your income (this is because the refinance is done through your current loan service), no mortgage insurance needed, also, you don’t need to pay cash up-front.



Although, there are many mortgage services that are approved by Fannie Mae or Freddie Mac to undertake the HARP – Home Affordability Refinance Program, you will find that no one exceeds or surpasses our expert services and dedication to providing helpful financial services.  Call now! 877-976-5669

Program Details


10, 15, 20, 25, 30 year fixed

Eligible Borrowers:

Approve Eligible EAI, EAII, EAIII


  • Property Inspection Waivers (PIW) are acceptable with no limit to LTV or CLTV as per the DU® findings
  • Also accepting loans where DU findings require appraisal

Residence Types:

  • Primary Residence (Owner Occupied, 1-4 Unit),
  • Second/Vacation Home (1 Unit),
  • 1-4 Unit Investment properties, and Condos

Ineligible Property:

  • Non-Approved and non-warranty condos
  • Co-ops
  • Single-wide manufactured homes

Loan Amount:     No Minimum –  Maximum Conforming and High Balance Loan Limits.

LTV/CLTV/HCLTV:     Unlimited – per DU findings.

Min FICO: 580

Mortgage Insurance:     Follow DU findings. Standard MI coverage required