Making Home Affordable Refinance (HARP) program was designed to help homeowners refinance their loans even after house values declined in recent difficult housing market conditions. HARP was initially launched in March 2009, and was further enhanced in March 2012 with roll out of HARP 2.0.
If so, we might have the answer that you've been looking for. The Making Home Affordable Refinance Program (HARP) is a government backed mortgage program that allows many borrowers with existing Fannie Mae and Freddie Mac loans to refinance their homes even if they owe more than their home is worth.
HARP's goal is to help you stay in your home by making it more affordable for you to continue to make your monthly mortgage payments and keep your dreams of affordable home ownership alive. We can help you qualify for HARP program if we can show that you are receiving one or more of the following benefits:
You may be eligible for HARP if you meet all of the following criteria:
Q. Can I pay down the principal balance of my loan when I refinance my home through HARP?
A. Yes, you can pay down your principal balance when you refinance your home through HARP or anytime after you. There are no pre-payment penalties.
Q. Can I refinance my home through HARP if I have a low credit score?
A. Yes. In fact, HARP is less sensitive to credit scores than Conventional Conforming loan types.
Q. Can I refinance my home through HARP even if I don't live in the property anymore?
A. Yes, generally.
Q. Can I refinance my condo through HARP?