HARP (aka the Home Affordable Refi Program or HARP 2.0) is set to expire at the end of 2015. HARP is a refinance program that was designed to help home owners who have good credit, income and job stability and would qualify for a refi except for the reduced value on their home.
HARP is available to home owners who have a conventional mortgage securitized by Fannie Mae or Freddie Mac (this is different than where you make your mortgage payments to).
In order to qualify, the existing mortgage needs to have the NOTE dated prior to June 1, 2009. When this program originally was developed, guidelines required that the securitization date be prior to June 1, 2009 – thankfully this has been changed to the NOTE date.
HARP loans do not require an appraisal and do not have private mortgage insurance if your existing mortgage does not have pmi. You can learn more about the Home Affordable Refinance Program by clicking here.
If you are interested in refinancing your home and considering the HARP program, you have just a few months remaining in order to start the process. I’m happy to provide you with a quote to review your possible scenarios.
I am required to have the language below if I am soliciting your Home Affordable Refi for your home in Washington…and yes, I would love to help you with your HARP (or any) refinance:
Freddie Mac and Fannie Mae have adopted changes to the Home Affordable Refinance program (HARP) and you may be eligible to take advantages of these changes.
If your mortgage is owned or guaranteed by either Freddie Mac or Fannie Mae, you may be eligible to refinance your mortgage under the enhanced and expanded provisions of HARP.
You can determine whether your mortgage is owned by either Freddie Mac or Fannie Mae by checking the following websites: www.freddiemac.com/mymortgage or http://www.fanniemae.com/loanlookup/
[…] of my refi clients did not have an appraisal as they did an FHA streamline refi or a HARP refi. Some took cash out to make improvements on their […]