Home Forums Article Discussions HARP Mortgage Requirements [discussion]

This topic contains 53 replies, has 2 voices, and was last updated by  Katie 4 years ago.

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    Harp mortgage requirements The FHFA, Fannie Mae, and Freddie Mac have been working with the mortgage industry to create a plan that would boost the nu
    [See the full post at: HARP Mortgage Requirements]


    John Grimes

    Yes. Just want to know if I can use the NEW HARP program in my situation. Paid $200K for house in 2007. Owe $150K at 6.35%. When tried to refiance 1 year ago all good until appraisel came in at $150K. Was not able to use HARP back then because of purchase date of my home and would have had to put huge down payment to reduce my rate. Will the new plan allow me to use HARP to reduce my rate to reduce monthly without large down payment?

    Thanks for your time



    My mortgage amount OWED: $298500.00;
    Mortgage rate: 5.5%
    Monthly payment: $1892.00;
    My home value: #323,500.00
    Did I qualify for HARP program?


    Rashell Travis

    Our loan was sold to fannie mae June of 2009, Wells Fargo made promises and drug out the refinance for 90 days when they finally declined the loan. Our credit scores were above 700 and now they have fallen just below 700. The loan Wells Fargo promised time and time again would go thru was a high balance loan originated in August 2011 and was promised it would go thru, Please advise as to this HARP program releasing.


    ed malloy

    What events would cause a person who is on the program to no longer be eligible to stay on the program?


    anna edelstein

    Our mortgage is thru USAA Bank. Is there any way for us to qualify for HARP or any other mortgage that will allow us to refinance our condo which is worth less than our current mortgage. We fulfill all other requirements.
    Thank you for your help.


    Doris Etue

    If not Fannie & Freddie is there any one else to contact? I am not late on any payments.


    marguerite sybert

    can we refinance a rental that we once lived in for the new harp loan. we owe 257000 and probably is worth 230-240,000. and do you know what banks are doing the loans.


    The new HARP Guidelines are supposed to alleviate LTV requirements.



    owe 195045
    rate 6.375
    monthly payment 1291.41
    home value 103000

    Do I qualify?


    Kimberly Johnson

    Under the new HARP Guidlines there is an unlimited loan-to-value (LTV) ratio. No matter how underwater you are, you can still apply. I am a Home Loan Specialist and I can give you more information and see if I can help you refinance under this program. There are specific qaulifications for HARP and I can check and see if you qaulify.



    I currnely don’t have PMI with my current loan. Will chnage with the harp program?


    Chargers Fan

    Even if your mortgage is with USAA it still may be owned by Fannie or Freddie. Check the “Who owns my loan link above”


    Chargers Fan

    If all HARP 2.0 mortgages are for LTVS above 80% is it safe to say that the HARP program always requires MI?


    Helen K. O’Connor

    I know that I qualify for HARP, and my current (as of five years) lender participates. I also had an extensive appraisal. (I haven’t signed any final documents yet.) My question is about fees. My lender is charging $6,750 to generate a $260,000 loan (this does not include other closing costs.) And since they currently own my mortgage, they are at no increased risk. I was told that in the new guidelines there was a change in the fee structure. Where can I get that information? Thanks.


    I L Martinez

    My loan was with Bank of America and they sold it to Green Tree. They suggest I go back to B of A to do the HARP but since they turned down my modification I prefer not to. Any suggestions?


    Chargers Fan

    Try another loan officer.



    I am currently not underwater on my home but have high personal debt, would i qualify for HARP. fico is good

    Thanks for your help


    You should talk to a loan officer to determine the Debt to Income ratio and what option are available for you.


    Beverly Bennett

    Hope to qualify for New HARP program after 12 mos. and I’ve paid back default months. I’ve been in my home for 22 years, refinanced without clarity into a pick-a-pay mortgage stuck for 3 years prepay penalty. Lost money as int. rate rose to 9%, frantically, refinanced when losing equity in 2008. Signed Mortgage docs w/o notary, copies obtained from lender in ’09 revealed my signature forged. Principal $347,000 7/1 ARM 5 1/2 %
    Value $266,000 Been trying to get bank to give me a new clean loan.
    Tried HAMP and was denied. Defaulted for Short sale then New HARP.

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