HARP Mortgage Program

What is HARP?

The Home Affordable Refinance Program (HARP) lets homeowners refinance into low mortgage interest rates, even if their property has decreased in value. It was established in 2009 for Fannie Mae and Freddie Mac and applies to homeowners who no longer qualify under traditional underwriting criteria.

You may be eligible for HARP if you meet all of the following criteria:

  • The mortgage must be owned or guaranteed by Freddie Mac or Fannie Mae.
  • 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 a good payment history in the past 12 months.

Is HARP right for me?

A Ross Mortgage lending expert can help you determine if the HARP Mortgage Program makes sense for you. Call 800-521-5362 or contact us through our website today for more information and to learn what opportunities exist.