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Home Affordability Refinance Program

The federal government launched the Home Affordability Refinance Program in March 2009 to stem the tide of foreclosures surging across the country because of the subprime mortgage crisis. HARP is set to expire this year, so if you need assistance, you must act now.

Save Your Home and Your Finances

If you got a Fannie Mae- or Freddie Mac-backed home loan before June 2009, HARP can help you save money by refinancing your mortgage.

If you bought during the height of the housing bubble, then this past decade has likely been an ordeal that you never signed up for when you closed on your home. Since 2009, the Home Affordability Refinance Program has been in place to help heavily indebted homeowners get their heads back above water.

Seize This Chance Before It’s Gone

HARP was recently extended through September 2017, but further extensions are not guaranteed.

When someone owes more on their mortgage than their home is worth, they are said to be “upside-down” or “underwater” in their home. It’s impossible for homeowners in this situation to refinance their mortgage using a conventional home loan, which is why the government stepped in to help.

Is a HARP Loan right for you?

Speak with one of our experienced senior loan officers today about buying or refinancing a home.

Choosing the Right Loan


George has been a plumber all his adult life, so when he bought his house back in 2006, he never thought he’d have to worry about being “underwater in his home.” Unfortunately, he learned the other meaning of that phrase when home prices in the United States finally crashed after all those heady years in which everyone thought the market would keep going up forever. After the economic crisis, George always did his best to meet his commitments, but the time finally came when the only way he could keep his home was by refinancing to a more affordable mortgage. HARP made it possible.

Eligibility Requirements

HARP refinancing has specific requirements:

  • You must be in good standing on your current mortgage, with no late payments in the last 6 months and no more than one late payment in the past year.
  • Your loan must have been originated on or before May 31, 2009.
  • Your loan must be owned by the Federal National Mortgage Association (Fannie Mae) or the Federal Home Loan Mortgage Corporation (Freddie Mac).
  • Your loan-to-value ratio, or LTV, must be greater than 80 percent.