HARP Refinance – Obama’s Plan to Help Underwater Homeowners

HARP Refinance Program | DU Refi Plus

Helping Underwater, Upside-Down & Limited Equity Homeowner’s Refinance in Georgia | Florida | Alabama | Tennessee & South Carolina

HARP Refinance | Obama Refinance Program

Home Price Declines & Underwater Homeowners Across the US that Need HARP Refinance 2.0 | DU Refi Plus | Home Affordable Program | Obama Refinance Program

What Is a HARP Refinance?

Originally started in April 2009, the Home Affordable Refinance Program (HARP) is a mortgage refinance program designed to assist underwater homeowner’s with conforming / conventional home mortgages.

However, under the old HARP refinance setup, restrictions on Loan to Value of 125% and large interest rate adjustments for refinances over 100% LTV meant that many people we not eligible for the program.

Welcome Making Home Affordable Refinance (HARP Refinance) 2.0!

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HARP Refinance Guidelines

HARP 2.0 Refinance Guidelines | HARP Refinance Options

Not everyone will qualify for a HARP Refinance. There are guidelines, although limited, that do apply to version 2.0 of the Home Affordable Refinance Program.

  • Fannie Mae / Freddie Mac – HARP 2.0 is a program for homeowner’s with conventional mortgage loans. Your loan has to be owned by Fannie or Freddie to qualify. Not sure? Check out our HARP eligibility search tool. Not finding your loan? Don’t give up, the tool is fickle. We have the capability to dig deeper, but you need to contact us.
  • Closing Date – Your mortgage loan must have been originated prior to June 1st, 2009.
  • HARP 1.0 Refinance – If you refinance through the original HARP plan then you are not eligible.
  • Current Mortgage Payments – You have to be on-time with your mortgage. HARP 2.0 allows for NO late payments in the last 6 months and only 1 mortgage late in the past 12 months.
  • Minimum Credit Score – This will vary from HARP Lender to HARP Lender, but we are seeing a 620 middle score for most of out participating Home Affordable Refinance lenders.
  • Lender Paid Mortgage Insurance – Another tricky scenario, most likely if you have lender paid mortgage insurance then you will have to return to your current mortgage servicer for your HARP Refinance.

Need More HARP Refinance Info?

Want more up-to-date HARP Refinance information? We have you covered! Check out the most complete HARP Refinance Guide on the web. All the questions, all the answers and everything you need to know to make a educated decision on whether the Home Affordable Refinance Program is for you.

 HARP Refinance | DU Refi | Obama Refinance – Complete Guide & FAQ

Our goal is to provide the most comprehensive resource available for underwater homeowner’s to research their refinance options. Helping people save is good. It’s good for our customers, it’s good for our neighborhoods, it’s good for the housing market and it’s good for the economy.

Check out the full HARP Refinance website. The mortgage industry’s #1 HARP Refinance resource.

Get Home Affordable Refinance Quote – Click HERE!

Florida HARP Refinance

 

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