HARP Refinances

The Home Affordable Refinance Program

The federal Home Affordable Refinance Program—or HARP—is a unique program that allows certain homeowners who currently owe more on their homes than their homes are worth to refinance to help them gain financial footing that they may have lost due to the “underwater” status on their homes.

To Be Eligible for HARP, you must meet all of the following criteria:

  1. Have no late payments in the last 12 months.
  2. Must not currently be in foreclosure.
  3. Your loan must have been originally owned by Freddie Mac or Fannie Mae or sold to them before May 31, 2009.
  4. You must not have ever utilized a HARP loan at any time for your home.

What will my monthly HARP payment be?

Calculate your potential new monthly mortgage payment in seconds with this handy calculator so you can make sure you have enough money left over each month for all your other expenses. Choose your rate and term—you might be surprised to see how affordable it is to own your home in less time than you thought. See how much interest you’ll pay over the life of the loan, and enter prepayment amounts to calculate their impact on your mortgage.

HARP Refinance FAQs

Am I Eligible for a HARP Refinance?

Current on Payments

No 30-day late payments in the last 6 months and no more than one in the last 12 months.

Primary Residence

Your home must be your primary residence or either a 1-unit second home or a 1-4 family investment property.

May 31, 2009

Your original loan was originated before May 31, 2009. One of our Personal Mortgage Advisors can look this up if you’re not sure.

Greater than 80%

Your current loan to value or LTV ratio must be greater than 80%. A Personal Mortgage Advisor can help you find your LTV ratio.

Fannie or Freddie

Your current loan must be owned by either Fannie Mae or Freddie Mac. Ask one of our Personal Mortgage Advisors if you’re eligible.