HARP Program Requirements In order to participate in HARP you need to meet the following requirements: Your mortgage must be owned or guaranteed by Fannie Mae or Freddie Mac You must be current on your mortgage, and cannot have made a payment more than 30 days late in the past year. You must have negative […]
Has your home lost value? Is your mortgage balance higher than your home value? Do you feel “stuck” with your high interest rate?
You’re not the only one. The housing bubble affected millions of U.S. residents, causing good people to lose significant equity in their homes.
The solution has finally arrived. HARP allows homeowners who have lost significant equity in their home to refinance at today’s low interest rates, as long as they meet basic eligibility requirements. HARP stands for the Home Affordable Refinance Program, and was created for homeowners in your position.
Under the Home Affordable Refinance Program, you can refinance your loan to achieve any or all of the following:
- Lower Your Interest Rate
- Modify your type of loan from Adjustable to fixed-rate or fixed-rate to Adjustable
- Lower the payment term length (only available for fixed rate mortgages)
- Choose a different lender
When you contact us, ask if you are eligible to pay nothing at closing!