Do You Meet The HARP Program Qualifications?

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HARP, or the Home Affordable Refinance Program, has been extended to December 31, 2015. That means we have almost 2 more years for homeowners to take advantage of this program and get into new mortgages that are more stable and affordable.

Not all mortgage servicers participate in HARP, so you may have to contact them to determine if you qualify. A certified housing counselor may also be able to help you find out if your lender participates.

HARP Program qualifications:

  • Mortgage is owned or guaranteed by Freddie Mac or Fannie Mae
  • Freddie Mac or Fannie Mae took possession of the loan by May 31, 2009
  • Mortgage has not already been refinanced through HARP
  • Greater than 80 percent loan to value ratio
  • Mortgage is current with solid payments for past year

Refinancing through HARP can help you change from a variable to a fixed rate loan, and perhaps change lenders. The new loan could offer you a lower payment and ensure that your mortgage will remain affordable until it is paid off.

This program is designed for people with little or no equity in their homes; if your home value has decreased and you meet the other HARP program qualifications, you may be a good candidate for this program.

Our housing counselors can help you make sure you meet any qualifications to be eligible for HARP or any other government mortgage relief. Make a Priority Counseling Appointment today for free, one-on-one help and advice.