HARP - Home Affordable Refinance Program

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

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

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

Look for a current loan statement and write "Fannie Mae" or "Freddie Mac" on it - no matter which group backs your property loan - which means you don't forget. Give that information to your lender once you apply for your HARP home loan.

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

If neither Fannie nor Freddie has record of your mortgage, your loan is ineligible for your HARP home loan. However, you may still be eligible for a "regular" refinance to lessen rates. Use our online form to acquire a rate quote to visit your options. Or, if your mortgage is protected through the FHA, make use of the same form or contact us. Such as the new 20112 HARP home loan the FHA Streamline Refinance assists under value homeowners, too.

Does HARP work the identical with Fannie Mae just like Freddie Mac?

Yes%u2026absolutely, for the most part, the HARP home loan is identical with Fannie Mae as with Freddie Mac. There are a few small differences, nevertheless they affect merely a tiny, tiny area of the general population. For all else, the policies work the same.

Am I qualified to receive the Home Affordable Refinance Program if I'm behind in my mortgage?

No. You have to be current on your mortgage to get a HARP Refinance.

Will a HARP Refinance let me stop foreclosure?

No. The new 20112 HARP home loan isn't built to delay, or stop, foreclosures. It's meant to give homeowners who are current on their mortgages, and that have lost home equity, the opportunity to refinance at today's low home loan rates.

What are the minimum requirements to get a HARP Refinance?

First, your home loan should be paid on-time for the prior Half a year, and at least 11 of the very most recent Twelve months. Second, your mortgage will need to have been sold to Fannie Mae or Freddie Mac prior to June 1, 2009. And, third, may very well not have used the HARP home loan before - just one HARP refinance per mortgage is allowed.

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

No. It is possible to only use the HARP mortgage program on one occasion per home.