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Home Affordable Refinance Program


The Making Home Affordable program announced by the Department of the Treasury on March
4, 2009, includes a new initiative – Home Affordable Refinance Program (HARP) – to provide refinance opportunities to borrowers with mortgages held or guaranteed by Fannie Mae or Freddie Mac. This initiative is for borrowers who have demonstrated an acceptable payment history on their mortgage but due to a decline in home prices or where mortgage insurance (MI) is not available, have been unable to refinance to obtain a lower payment or move to a more stable fixed rate product. The Federal Housing Finance Agency (FHFA) has also provided greater flexibility to Fannie Mae and Freddie Mac to implement this refinance initiative.


Prior to March 17 2012, the maximum loan-to-value (LTV) ratio for refinance mortgage loans under the HARP initiative was 105%.  On March 17, 2012, HARP 2.0 was released and there are no longer any LTV limitations on Fannie Mae's HARP program called DU Refinance Plus.  Freddie Mac's HARP program called Open Access Relief continues to have LTV limitations of 105%. 


The HARP 2.0 program is designed to help you even if you are under water on your mortgage.  Click Get Rates to see how much you can save with a new HARP mortgage. 


Click here to visit Fannie Mae's property lookup website to see if your property is eligible for refinance under the DU Refi Plus program. 


Click here to visit Freddie Mac's property lookup website to see if your property is eligible for refinance under the Open Access Relief program.


Click Get Rates to get an online rate and payment quote under the Home Affordable Refinance Program. 



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