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what is harp loan

HARP, or the Home Affordable Refinance Program, was created to help homeowners that are current on their mortgage, though have little or no equity in their.

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– HARP Loan Program – Government Refinance Plan. HARP is a government program known in full as the home affordable refinance program. Although we are not the government, we provide a network of qualified, experienced HARP Mortgage Lenders committed to helping homeowners who are trying to refinance an underwater mortgage and take advantage.

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What is the HARP refinance and how do you qualify? HARP-the Home Affordable Refinance Program-was created by the Federal Housing Finance Agency specifically to help homeowners who are current on their mortgage payments, but have little to no equity in their homes, refinance their mortgage – that is, they owe as much or more than their homes are currently worth – are eligible for a HARP.

Edith: What is a HARP loan? I have a town home that has depreciated since purchase price. I am current on all bills and mortgage payments, but I would like to find a way to get a lower rate. — e-mail.

The HARP loan program was started in the heart of the mortgage meltdown in 2009. It was designed to help people who were either underwater on their mortgage or almost underwater to refinance. Under normal circumstances, it is impossible to refinance a home loan without equity in the property.

Your mortgage must be owned by Fannie Mae or Freddie Mac.Other types of loans do not qualify for HARP. You can look up your loan online to see if it is held by Fannie Mae or Freddie Mac by going to the loan lookup tools on the making home affordable website.; Your loan must have originated prior to June 1, 2009.

The mortgage MUST be owned or guaranteed by Fannie Mae or Freddie Mac; The mortgage MUST have been sold to Fannie Mae or Freddie Mac on or before May 31, 2009. The mortgage CANNOT have been refinanced under HARP previously unless it is a Fannie Mae loan that was refinanced under HARP from March-May, 2009.

The HARP mortgage is a home loan refinance program launched in March 2009, which gives homeowners whose homes have lost value the ability to refinance to current mortgage rates without incurring.

Harp Loan What is a HARP Refinance Loan? The home affordable refinance program (harp) is a federal program that can help you refinance your home with the goal of making your mortgage more stable and affordable.

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