Refinancing to a HARP Loan

If you’ve little or no equity in your home, the Home Affordable Refinance Program, HARP, could be the perfect refinancing option. Since its 2009 launch by the Federal Housing Finance Agency, over 3 million Americans with underwater mortgages have saved an average of $2,400 per year with HARP. A HARP refinance with Refi.com can allow you to start building equity at last.

Are you eligible for HARP now?

The requirements to qualify for HARP will become stricter in 2019, so it’s best to take advantage of HARP now. To qualify for a HARP refinance, you currently must meet these four requirements:

  • Your mortgage must be a Fannie Mae or Freddie Mac loan.

  • Your mortgage must have been originated on or before May 31, 2009.

  • The ratio of the value of your home to the amount of your loan must be 80 percent or higher.

  • You haven’t had any late mortgage payments in the past six months, or more than one late payment in the past year.

How do you know if your mortgage is Fannie Mae or Freddie Mac?