HARP 2 Home Mortgage Refinance Program:
Now offering HARP nationwide!
The 2016 HARP 2.0 mortgage refinance loan program is providing significant relief for US home owners that could not refinance in the past due to decreasing home values. The new version of the Home Affordable Refinance Program (HARP 2.0) is officially set to be released in the spring of 2012 to participating lenders. This new version of HARP will allow unlimited loan to value which is the most significant change. This means no more restrictions on how much a homeowner owes on their home verses how much their home is currently worth! U.S. home owners “upside down” or “under water” in their mortgage will now have some relief. In addition to this, there will also be less restrictive credit guidelines in place. Many of the so called government “relief” refi programs in the past few years have fell short of actually helping homeowners refinance their mortgage to a lower interest rate. The new version of the HARP mortgage program (2.0) appears to offer the relief many homeowners have needed for so long.
Below we have outlined some of the basic requirements for the HARP 2.0 Refinance –
- You must currently have a Fannie Mae or Freddie Mac backed mortgage (conventional loan) to be eligible for the HARP refinance. How can you tell if you have a Fannie Mae or Freddie Mac backed loan? They both have “lookup” tool on their websites. Check Fannie Mae’s first because Fannie Mae’s has the larger number of mortgages. If you do not find a match there, then check Freddie Mac. Your loan must appear on one of these two sites to be eligible for HARP refi program.
- Your current mortgage must have closed before Jun 1st 2009 to be eligible for the HARP 2.0 refinance program. Regardless of your current loan servicer (Wells Fargo, Bank of America, Chase, Citi, etc) we can help as long as your mortgage is currently Fannie Mae or Freddie Mac backed as noted above.
- Please note, government home loans like FHA, VA and USDA loans are NOT HARP eligible. All the Government home loans have their own refinance relief programs. Please see below for a list of government refinance help programs.
- You have to be current on your mortgage with no mortgage late payments for the past 6 months, and can only have (1) 30 day late payment in the past 12 months.
- Investment home and second homes (vacation homes) are permitted for the HARP 2.0 refi program!
Homeowners with a FHA Mortgage – Please learn about the FHA Streamline refinance mortgage here.
Homeowners with a VA Mortgage – Please learn about the VA IRRRL Refinance program here.
Homeowners with a USDA Mortgage – Please learn about the USDA Rural Pilot Refinance program here.
2016 HARP refinance loan application requests are being processed now. You can submit the Request Information button up top to get started and to check your HARP loan eligibility.