If you have had trouble refinancing because the value of your home has declined, you may be eligible through HARP. Designed to help homeowners that have felt the pain of declining home valued over the last few years HARP may be the breath of fresh air you have been looking for.
You may be eligible to apply if you meet the following:
- You have a mortgage owned or guaranteed by Fannie Mae or Freddie Mac.
- You do not have an FHA, VA or USDA loan.
- You are current on your mortgage payments and have not been more than 30 days late making a payment over the last year.
- Have a first mortgage not exceeding 125 percent of the current market value of your home.
- The refinance will improve the long-term affordability or stability of your mortgage.
- You have the ability to make the new payments.
Steps To Determine Eligibiltiy For HARP Refinance
- Determine whether your mortgage is owned or guaranteed by Fannie Mae or Freddie Mac by visiting their respective Loan Lookup tools.
- Contact your current mortgage servicer or another that is approved by Fannie Mae or Freddie Mac to inquire about HARP.
- Compare rates and costs with additional mortgage companies to ensure best refinance terms.
Our Experienced Mortgage Advisors have been working with the HARP refinance program since it’s inception. For more information or help in seeing if you are eligible for HARP fill out the form below and one of our licensed mortgage advisors will get in touch with you as soon as possible.