Since 2008, FHFA, Fannie Mae and Freddie Mac, mortgage lenders
and servicers have been working together to find ways to increase
the number of homeowners eligible to refinance through HARP.

Frequently Asked Questions

Q: What are the benefits of the HARP 2 Program?

A: Several key benefits of the HARP 2 Program are:

  • Guaranteed 30 Year Fixed Rate Loan
  • Skip Your Next Mortgage Payment
  • U.S. Government Guaranteed
  • No Equity Needed
  • Easy Credit Qualifying
  • 2nd Home/Investment Properties Eligible

Refinance Today & SAVE!

HARP 2 Program Links


Daily HARP 2 Program News

Home Prices Surge, With or Without Distressed Sales

According to the CoreLogic April Home Price Index (HPI) including distressed sales home prices are now up 12.1 percent on an annual basis. In March the annual increase was 10.5 percent. The April year-over-year change is the largest increase since February 2006. The HPI which excludes short sales and sales of owned real estate (REO) was up 11.9 percent in April 2013 compared to April 2012 It had risen 10.7 percent from March to March.

Mortgage Rates

30 Yr FRM



15 Yr FRM



FHA 30 Year Fixed



Jumbo 30 Year Fixed



5/1 Yr ARM



HARP 2 ProgramWith mortgage interest rates at all-time lows, this is an opportune time to take advantage of this new HARP 2 Program. Refinancing your Fannie Mae or Freddie Mac-owned mortgage is now easier than ever, is less restrictive and also benefits borrowers, the housing market, and our economy.

You are eligible for the HARP 2 Program if…

  • Your mortgage is owned or guaranteed by Freddie Mac or Fannie Mae.
  • Your mortgage was sold to Fannie Mae or Freddie Mac on or before May 31, 2009.
  • Your mortgage cannot have been refinanced under HARP previously unless it is a Fannie Mae loan that was refinanced under HARP from March-May, 2009.
  • Your current loan-to-value (LTV) ratio must be greater than 80%.
  • You are current on your mortgage at the time of the refinance.
  • You have no late payment in the past six months and no more than one late payment in the past 12 months.

What are the benefits of shortening the terms of your mortgage?
Home owners who owe more on their mortgages than their homes are worth (under water mortgages) may be locked into their homes for years and have fewer financial options until they pay down the principal balance. A shorter term mortgage enables such home owners to pay down the amount they owe much faster than a traditional 30-year mortgage. Also, interest rates on shorter term mortgages are typically less than on 30-year mortgages. The lower interest rate may provide home owners the opportunity to shorten the term of their mortgages without much change in their monthly payments, and perhaps even a reduction in that payment.

Is there a maximum loan-to-value (LTV) ratio for HARP? There is no longer a maximum LTV limit for borrower eligibility. If the borrower refinances under HARP and their new loan is a fixed rate mortgage, there is no maximum LTV. If the borrower refinances under HARP and their new loan is an adjustable rate mortgage, their LTV may not be above 105%.




*Refinance programs are subject to change. Not all borrowers will qualify.

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