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What You Can Do If You Don’t Qualify For HARP

I didn’t qualify for HARP, now what?

At this point in time there is a good chance you have heard of the HARP program, or Home Affordable Refinance Program.  Many homeowners across the country are taking advantage of this once in a lifetime opportunity to lower their interest rate and mortgage payment.  Unfortunately, there are requirements to this program that are leaving many homeowners out.

If you don’t qualify for a HARP loan there are other options for you, but they are still limited.  If you have a FHA loan it is possible you could qualify for a ‘Streamline FHA Refinance.’  These loans enable those who currently have an FHA mortgage to refinance even if you’re underwater on your home.  However, there are still requirements that must be met to get approved for an FHA streamline.  It is important to discuss your options with a licensed mortgage originator.

Another option is to reach out to your current mortgage holder and ask for a loan modification.  This can be an extremely time consuming and frustrating process, but many people who have pursued loan modifications have successfully reduced their loan balances, payments, and interest rates.

Finally, there is the possibility of HARP 3.0, but we are unsure of what this program would look like.  Many people are hoping that if the existing HARP program is enhanced, that one of those enhancements would be the ability for those whose loans are not owned by Fannie Mae or Freddie Mac would be able to refinance.  If this were to happen there is a good chance that responsible homeowners across the country would now qualify to refinance into low interest rate mortgages.

If you are unsure if you qualify for HARP we recommend speaking to a licensed mortgage originator in your area.

Find out if you qualify for a HARP loan today!
Use our Free Tool to Quickly Determine Your Eligibility.

HARP Loan Eligibility Tool, Click Here To Get Started

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 Yes, You Can Refinance!

  • Underwater is OK!
  • No Appraisal Required
  • Low Interest Rates
  • Save Thousands!
Current Mortgage Rates
CurrentLast Week
Do You Qualify For A HARP Refinance Loan?
  • Your mortgage MUST be owned by Fannie Mae or Freddie Mac. (this is different from who services your mortgage)
  • You CAN owe more than your house is worth. No appraisal is necessary for most HARP loans.
  • Your current loan must have started prior to May 2009.
  • You need to be current on your mortgage for the past 6 months.

Click Here To Read More About Qualification Criteria... or call 1-800-525-0705 to talk live now with a licensed professional that can answer all of your questions and possibly get you approved today!