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Who Qualifies For A Harp Loan

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7 questions everyone asks about the harp refinance program.. In order to qualify for HARP, homeowners had to show their current mortgage was backed by Fannie Mae or Freddie Mac on, or prior to.

Refinancing With A Home Equity Loan Refinancing with a home equity loan "If you’re only going to be in the house for two or three years, then a home equity refinance is better if you can afford a 15-year payment," says Mike.

How to Qualify for a HARP Loan. Homeowners that have a mortgage owned by Fannie Mae or Freddie Mac-also called a conventional mortgage loan-and who owe more on the loan than the home is worth may qualify for a HARP refinance. That refinance can result in significant savings by reducing your monthly payment or lowering your interest rate.

I wanted to apply for a harp loan and my bank states that my loan does not qualify. The bank hooked up with someone other than Freddie mac. Is there any programs that I can qualify for to get my interest rate lower and recoup from the equity hit that my duplex experienced by 1976louann.s963 from Madison, Wisconsin.

 · Your mortgage must be owned by Fannie Mae or Freddie Mac. Other types of loans do not qualify for HARP. You can look up your loan online to see if it is held by Fannie Mae or Freddie Mac by going to the loan lookup tools on the making home affordable website. Your loan must have originated prior to June 1, 2009.

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He qualifies on both counts. He is prepared to take on the commitment and has already. while the Dons also signed Jon.

To qualify for an HARP refinance, Fannie Mae or Freddie Mac must own your loan or your refinance must affect your loan in at least one of the following ways:. Reduce your interest rate; reduce your monthly principal and interest payments 8 eligibility requirements for HARP (Home Affordable. – Your Loan-to-Value Ratio Must Be Greater than 80%.

HARP – If you got your mortgage loan at a bank, credit union or mortgage company, it may be owned by Fannie Mae or Freddie Mac. If so, you could qualify for HARP refinancing and you could save thousands with a lower rate or other more favorable terms.