What You Need To Know About HARP

If you are underwater with your current home loan, then you may have heard about “The Home Affordable Refinance Program (H.A.R.P.)” or HARP 2.0.

HARP is a federal-government program designed to help homeowners refinance at a lower mortgage rates when they owe as much or more on their home loan than their home is worth. The main idea is to allow borrowers to get into a more affordable or stable mortgage. Most homeowners eligible for a HARP refinance are able to reduce their monthly payment by lowering the interest rate on their mortgage. Other homeowners can use HARP to convert their adjustable mortgage into a more predictable, fixed-loan program.

In 2012, HARP 2.0 became available which loosened underwater limits, and other restrictions, in order to make the process quicker and easier.

You might be eligible for HARP if:

  1. You are current on your mortgage
  2. You have a loan-to-value (LTV) ratio of 80 percent or higher
  3. Your home must be your primary residence
  4. You Purchased your home  before May 31, 2009
  5. Your loan must be backed by Freddie Mac or Fannie Mae

NOTE – This is not a program for you have not been paying your mortgage payments.

How To Apply For HARP?

We specialize in HARP refinancing, so simply give us a call and we take you step by step through the process or answer any questions that you might have.


The HARP program is currently scheduled to end on Dec. 31st 2015.

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