How do I know if I am eligible for a refinance under HARP?

You may be eligible if:

  • The mortgage MUST be owned or guaranteed by Fannie Mae or Freddie Mac (See How do I know if my loan is owned or has been guaranteed by Fannie Mae or Freddie Mac?)
  • The mortgage MUST have been sold to Fannie Mae or Freddie Mac on or before May 31, 2009.
  • The mortgage CANNOT have been refinanced under HARP previously unless it is a Fannie Mae loan that was refinanced under HARP from March-May, 2009.
  • The current loan-to-value (LTV) ratio MUST be greater than 80%
  • The borrower MUST be current on the mortgage at the time of the refinance, with no late payment in the past six months and no more than one late payment in the past 12 months.
  • You have a reasonable ability to pay the new mortgage payments.
  • The refinance improves the long term affordability or stability of your loan.
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