E-mail this page:

Bookmark and Share

Did this site help you?

Would you please help us?

We have partnered with Amazon.com.

If you bookmark the link below, and use it the next time you shop at Amazon, they will make a small donation to us!

H.A.R.P.

(Home Affordable Refinance Program)

How does this program help me?

This is the second of the two programs that came out of the Obama Administration (the other is the Home Affordable Modification Program, or H.A.M.P.). Many homeowners are not having problems making their house payment but still want to save money by refinancing. Unfortunately, with values having dropped so low millions of homeowners can't refinance due to their lack of equity. Under this program homeowners can finally refinance, even if their house is slightly upside down in value. In addition, guidelines like lower credit score requirements and higher debt ratios make it easier than ever to qualify.

Who should I contact?

Any normal channel for home loans can help you with this program. You can use your preferred mortgage broker, bank, credit union, etc. Tell them you want to apply for the Home Affordable Refinance Program (and be aware that is is also called the "Relief Refinance" program at some lenders). If they don’t know what that is you should take your business somewhere else.

What should I expect?

This loan is processed the same as a regular refinance. Once you choose a lender it should take 30 to 45 days depending on how busy the company is that you choose to do your loan. Be sure to check out our resources section for a list of personal financial documents to get together.