By Marina Locks

Jul 24, 2013

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.

These blogs are for informational purposes only. Make sure you understand the features associated with the loan program you choose, and that it meets your unique financial needs. Subject to Debt-to-Income and Underwriting requirements. This is not a credit decision or a commitment to lend. Eligibility is subject to completion of an application and verification of home ownership, occupancy, title, income, employment, credit, home value, collateral, and underwriting requirements. Not all programs are available in all areas. Offers may vary and are subject to change at any time without notice. Should you have any questions about the information provided, please contact us.