Home Affordable Refinance Program (HARP) Outline

Home Affordable Refinance Program (HARP) Loans:  Refinance your home even if you property value has gone down.

HARP Loans released April 4, 2009 by Fannie Mae is a new refinance program - Home Affordable Refinance Program.

This new program good until June 2010, allows home owners to qualify for the now low mortgage interest rates.

Many home owners have lost value in their homes over the last few years and because the value has gone down they were not eligible to refinance Their LTV or Loan to Value does not allow them qualify for a conventional mortgage.

As with every home loan there are requirements. Some of the major points are:

1. Property can be 1 to 4 units for a primary residence.

2. Current mortgage loan must be owned Fannie Mae or Freddie Mac 3. Monthly Mortgage Payments must be up-to-date

4. Loan-to-value (LTV) can be no more than 105%

To find out if your loan is owned by Fannie Mae - Click Here

To find out if your loan is owned by Freddie Mac - Click Here

If your loan is owned by either we can help you find your way.

This program is very new so we are just starting the process. Ask your questions. We promise to respond with 24 Hours.

Even if you do not qualify for the HARP Loan, today's rates are low and you may still qualify for a refinance. If your credit is not what it should be, first make sure you have your free annual credit report, then visit David Wakefield at Prime Lending.

This is a great program, but will end next year. Don't wait for Congress to change the rules. Fill out the form below and I will let you know if you qualify.

Mortgage Servicer Website Addresses and Phone Numbers:   The 13 participating servicers (including affiliates) cover over 50% of the servicing market for prime, Alt-A and subprime, so there’s a good chance you’ll have coverage even if no other servicers participate, although it sounds as if others are in the process of signing up so this coverage should only increase.  Whether they can get consistent application to their loans in the private-label deals is uncertain at this point.