HARP Loan Program

What is the HARP Loan Program?

HARP May Be An Option

HARP is a program that may work for borrowers with little equity in your home or you owe as much or more on your mortgage than your home is worth.

HARP gives hope to borrowers who have remained current on their mortgages owned by Fannie Mae® or Freddie Mac®. Through HARP you can get lower interest rates, a shorter loan term, or change from an adjustable to fixed-rate mortgage. There is also no minimum credit score needed.

The most important eligibility requirement is that your loan is must owned by Freddie Mac® or Fannie Mae® in order to refinance with HARP. Also, the loan needs to have been originated on or before May 31, 2009.

To determine your loans origination date, you can access the loan lookup tools below:

Fannie Mae®
Call: 800-7FANNIE (8 am to 8 pm ET)

Freddie Mac®
Call: 800-FREDDIE (8 am to 8 pm ET)

There are other basic requirements such as remaining current on your mortgage, having no late payments in last 6 months and no more than one in the past 12 months. Your home also must be your primary residence, a 1-unit second home or a 1- to 4-unit investment property.

Frequently Asked Questions About HARP

Yes. In addition to your primary residences, HARP allows you to refinance even if your property is an investment property or second home.

Yes. HARP allows mortgages on condominiums to be refinanced.

If your original loan meets the basic eligibility requirements you may be able to refinance with HARP.

HARP is unique because it enables homeowners with little to no equity in their homes to take advantage of today’s low interest rates and other refinancing benefits. HARP is only one of several refinancing options that may be available to you.