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Can a harp refinance be used to combine 2 mortgages?

by lauren567 from Miami, Florida. Sep 14th 2015 Reply


Craig Prickett (cpmtgnow)
#159 ranked lender in Florida - 94 contributions

no, but need more details

Sep 14th 2015
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David Hosterman NMLS 220562 (dhosterman)
#13 ranked lender in Colorado - 26 contributions

In order to be eligible for a HARP refinance Fannie Mae and Freddie Mac require the mortgages to be Fannie or Freddie owned. Typically 2nd mortgage are not owned by Fannie and Freddie so the likelyhood is not good to be able to do this.

Sep 14th 2015
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William J Acres (William_Acres)
#1 ranked lender in Arizona - 8,041 contributions

No.. with HARP you cannot combine 2 mortgages into one.. you can only refinance the first mortgage with HARP.. But if you have sufficient equity, you can refinance both loans into one new loan without needing HARP. Try contacting a LOCAL mortgage broker and apply with them. Once they see your complete loan profile, they will be better equipped to advise you properly. Also, by applying with your LOCAL Broker, you have an advantage because he's familiar with local customs and works with many lenders with each one offering a different type of lending program. This is unlike the local bank which typically only has a few lending programs. The more lenders, the more lending options, and the more likely your scenario will be accepted.. Plus, the broker is experienced in seeking out the best loan terms for your particular scenario, and he has lower overhead which typically results in lower rates and fees than most of the larger lenders.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 WilliamAcres.com NMLS# 226347Enter your answer here

Sep 14th 2015
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