What is a HARP Loan?

What is a HARP Loan?

If you have not been able to get traditional refinancing because the value of your home has declined, and you’re not behind on your mortgage payments, you may be eligible to refinance through the “Home Affordable Refinance Program.”


The Home Affordable Refinance Program (HARP) allows people who have loans that have been guaranteed by Fannie Mae or Freddie Mac on or before May 31, 2009, with little or negative equity to refinance and take advantage of the current low interest rates. NFM Lending offers HARP loans for homeowners that owe up to 150% more than their home is worth (LTV ratio). HARP loans are available for both primary and investment properties.


In order to be eligible for a HARP loan you must have a current loan-to-value (LTV) ration greater than 80% and you must be current on your mortgage at the time of the refinance. You must have a good repayment history in the past 12 months. Also, you must have a mortgage that is owned or guaranteed by Freddie Mac or Fannie Mae; it needs to have been sold to them on or before May 31, 2009. Additionally, your mortgage cannot have been refinanced under HARP previously (unless it’s a Fannie Mae loan that was refinanced under HARP from March-May, 2009).

Getting the Loan

If you would like to see if you will qualify for this loan, contact one of our Licensed Loan Originators by clicking here.

Share this: Share on FacebookTweet about this on TwitterShare on LinkedInShare on Google+Pin on PinterestEmail this to someone

Marina is a Writer for NFM Lending. She got her Bachelor's in English from the University of Maryland. When she isn't writing or managing NFM Lending's social networks, Marina can be found shopping, cooking, and researching the latest gadgets.

4 thoughts on “What is a HARP Loan?

  1. Are there any other programs similar to HARP for properties that are not backed by Fannie Mae or Freddie Mac? What if the property is backed by a private lender?

    • Hi T. Franklin – from NFM Branch Manager Jason McLaughlin: “The simple answer is no. It really depends on what the private lender would be willing to do. If it’s not backed by Fannie or Freddie and not FHA or VA, there are no programs available similar to HARP. HARP was designed to help borrowers that may be underwater on their equity position of their home.”

  2. Looking to refinance my loan with a HARP program. I was referred by Rene Rivera to Mauricio Becerra.

    Thank you

    Darlene Rivera

Leave a Reply

Your email address will not be published. Required fields are marked *