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  • Tel: (651) 552-3681
    Email: joe@joemetzler.com

  • THE HARP REFINANCE PROGRAM ENDED Dec 31, 2018

     

    What was the HARP Refinance Program?


    HARP stands for Home Affordable Refinance Program. This program was a special short term program for homeowners whose homes are back then worth less than what they owed.

    If you were a responsible homeowner, but the current value of your home was less than you owed on the home, or had dropped significantly, this special program waived appraisals, and  normal mortgage loan-to-value requirements so that you could still refinance and take advantage of lower interest rates.

    It was a great program, with millions of people taking advantaged of it, especially from 2009 until about 2012.

    Contact one of our Home Loan Specialists for today's options on your situation at (651) 552-3681.

     

  • BASIC HARP LOAN REQUIREMENTS were


    Back then, you might have been eligible if:

    • The mortgage must be owned or guaranteed by Freddie Mac or Fannie Mae.
    • Your current mortgage must have closed 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.
    • The current loan-to-value (LTV) ratio must be greater than 80%.
    • The borrower must be current on the mortgage at the time of the refinance, with no late payment in the past six months and no more than one late payment in the past 12 months.