HARP 2.0 Refinancing

Inlanta Mortgage Loan Programs

Help For Underwater Homeowners

Freddie Mac and Fannie Mae have adopted changes to the Home Affordable Refinance Program (HARP) and you may be eligible to take advantage of these changes. If your mortgage is owned or guaranteed by either Freddie Mac or Fannie Mae, you may be eligible to refinance your mortgage under the enhanced and expanded provisions of HARP. You can determine whether your mortgage is owned by either Freddie Mac or Fannie Mae by checking the following websites: www.freddiemac.com/mymortgage or www.fanniemae.com/loanlookup.

Eligibility Requirements for HARP 2.0

Your loan must be backed by Freddie Mac or Fannie Mae. Don’t know? Use these links to find out:

Other Requirements for HARP 2.0

  • Your mortgage loan must have been originated prior to May 31, 2009.
  • You must be current on your mortgage loan (no late payments in last 6 months).
  • Your current loan-to-value (LTV) ratio must exceed 80%.
  • Your HARP refinances are limited to your area’s conforming limits.
  • Conforming limits may vary from location to location but in most cases are $417,000.
  • Cash out refinances are not available with HARP – only rate and term refinances are allowable.
  • Mortgage rates for HARP are similar to traditional refinancing and will be determined by your lender.
  • Homeowners may only utilize the HARP program once per home – if you have already refinanced under this program you are ineligible.
The HARP 2.0 program is not designed to help homeowners avoid foreclosure, it is strictly designed to assist homeowners who have watched their home values deteriorate during the recent housing crisis.

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