Is the HARP Program Still Available in 2019?
What is the HARP Program?
The Home Affordable Refinance Program (HARP) is a federal program created in 2009 by the Federal Housing Finance Agency (FHFA). It's designed to help homeowners who are underwater on their mortgages get access to more affordable interest rates. The program allows homeowners to refinance their mortgages even if they owe more than their home is worth.
Is the HARP Program Still Available in 2019?
Yes, the HARP program is still available in 2019. The program has been extended through December 31, 2019 and is available to homeowners with a loan-to-value (LTV) ratio of greater than 80%. This means that you owe more on your mortgage than the current market value of your home.
How Can I Qualify for the HARP Program?
In order to qualify for the HARP program, you must meet the following criteria:
- Your mortgage must have been sold to Fannie Mae or Freddie Mac on or before May 31, 2009.
- Your loan-to-value (LTV) ratio must be greater than 80%.
- You must be current on your mortgage payments, with no late payments in the last 12 months.
- You must have a valid Social Security number.
What Benefits Does the HARP Program Offer?
The HARP program offers a number of benefits for homeowners who meet the qualifications. Some of these benefits include:
- Lower monthly payments.
- Lower interest rates.
- No appraisal required.
- No income verification required.
- No minimum credit score required.
- No loan-level pricing adjustments.
If you meet the qualifications for the HARP program, you may be able to take advantage of these benefits and save money on your monthly mortgage payments.