Don’t Overlook These HARP Refinance Quick Answers

Is HARP available on Loans over $417,000?
NO, loans greater than $417,000 are categorized as jumbo loans. HARP was made to help borrowers who are underwater on Fannie Mae and Freddie Mac loans.

harp refinance answers

I Qualify for HARP but the Bank/Lender will not do the loan?
Unfortunately some lenders have stricter guidelines. So, it pays to shop around. In this case, a mortgage broker with many programs should have various HARP lenders with some being more flexible than others.

Does the HARP program allow a refinance on a second / vacation home ?
Yes, HARP permits borrowers to refinance an second / vacation home that is underwater, regardless if you used it as your primary residence in the past. Eligibility requirements still apply.

Does the HARP program allow a refinance on an investment / rental property?
Yes, HARP allows the borrower to refinance their investment / rental property that is upside down. You are eligible to use the HARP refinance program on a former residence even if you have a tenant now. Eligibility requirements still apply.