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Are You Eligible? HARP- If you are interested in taking advantage of today’s low-mortgage rates the Fannie Mae HARP refinance program offers to help families get into more affordable and more stable fixed-rate mortgages. Even if you owe more than your home is worth, you may be eligible.
You may be eligible to apply if you meet the following criteria:
- You have a mortgage owned or guaranteed by Fannie Mae or Freddie Mac.
- You do not have an FHA, VA or USDA loan.
- You are current on your mortgage payments and have not been more than 30 days late making a payment over the last year.
- You have a first mortgage not exceeding 125 percent of the current market value of your home.
- The refinance will improve the long-term affordability of stability of your mortgage.
- You have the ability to make the new payments.
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