HARP Refinance Has Been Extended
The Federal Housing Finance Agency has extended the Home Affordable Refinance Program (HARP). This allows the continued use of Fannie Mae’s DU Refi Plus and Freddie Mac’s Relief Refinance Mortgage (also known as Open Access) through December 31, 2016. This program was extended last year and was set to expire December 31, 2015.
Washington, DC – The Federal Housing Finance Agency (FHFA) today directed Fannie Mae and Freddie Mac to extend the Home Affordable Refinance Program (HARP) by one year to December 31, 2016. The program was set to expire December 31, 2015.
Read the full prepared remarks from the FHFA Director
All of these programs are meant to help homeowners with mortgages that are owned by one of these agencies attain a lower interest rate and payment with less stringent guidelines, especially pertaining to the value of your property vs. the loan amount. Although HARP has not been as successful as originally projected, it has helped many home owners across the country.
For additional information see our HARP Refinance page.
- Important HARP Disclosure
If your mortgage is owned or guaranteed by either Freddie Mac or Fannie Mae, you may be eligible to refinance your mortgage under the enhanced and expanded provisions of HARP. You can determine whether your mortgage is owned by either Freddie mac or Fannie Mae by checking the following websites:
www.freddiemac.com/mymortgage or https://www.fanniemae.com/loanlookup/.