HARP May Be Playing Your Song!

Home Affordable Refinance Program (HARP)

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If you are current on your mortgage and have been unable to obtain a traditional refinance because the value of your home has declined, you may be eligible to refinance through HARP. HARP is designed to help you refinance into a new affordable, more stable mortgage. The HARP loan is a new loan and will require a loan application and underwriting process. Loan refinance fees will apply.

Eligibility*

You may be eligible to apply if you meet all of the following:

• ​​​​Your mortgage must be owned or guaranteed by Freddie Mac or Fannie Mae.
• The mortgage must have been sold to Freddie Mac or Fannie Mae 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.
• You must be current on your mortgage at the time of the refinance with no late payment in the last six months and no more than one late payment in the past twelve months.
• The current loan-to-value (LTV) ratio must be greater than 80%.

*Eligibility criteria are for guidance only. Contact your mortgage servicer to see if you qualify for HARP.

Program Availability

The HARP program is offered by many servicers. Homeowners should check with their mortgage servicer (the company to which homeowners make their mortgage payments) to determine if they are participating in HARP. If their mortgage servicer is not participating, the homeowner may contact other lenders that participate in HARP to determine if they are eligible for a refinance.

Steps to HARP Refinance

• Determine whether your mortgage is owned or guaranteed by Fannie Mae or Freddie Mac by visiting their respective Loan Lookup tools.
• Contact your current mortgage servicer or another that is approved by Fannie Mae or Freddie Mac to inquire about HARP.
• Compare rates and costs with additional mortgage companies to ensure best refinance terms.

For More Information

• Visit FannieMae.com or call (800)7Fannie.
• Visit FreddieMac.com, call (800)Freddie, Option 2
• If you have additional questions about getting mortgage help, contact one of our housing advisors at (888) 995-HOPE begin_of_the_skype_highlighting (888) 995-HOPE end_of_the_skype_highlighting (4673). These HUD-approved housing counselors will help you understand your options, design a plan to suit your individual situation, and prepare your application. Research shows that homeowners who work with housing counselors like these are more successful and have better long-term outcomes. There is no cost to you for this valuable, around-the-clock service. Help is available in more than 160 languages.