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Can a loan be considered a HARP if the LTV is less than 80%? Does it have to be upside down?

by samirpatel861 from Wichita, Kansas. Mar 5th 2014 Reply


William J Acres (William_Acres)
#73 ranked lender in Arizona - 8,728 contributions

Yes.. but your only benefit would be no appraisal.. so if you have more than 20% equity, you might want to have your loan officer get you a quote based on a rate and term refi, non HARP.. the pricing might be better.. 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

Mar 5th 2014
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Mike Towler (mortgagemiket)
#40 ranked lender in Missouri - 26 contributions

Yes it can. It does not have to be upside down.

Mar 5th 2014
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Sara Deere (Mortgagequeen2)
#16 ranked lender in Missouri - 608 contributions

I agree with the already submitted answer.

Mar 5th 2014
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Joe Shamie (Joe Shamie)
#4 ranked lender in New Jersey - 1,412 contributions

Yes. But there is no reason to go into the Harp loan if you LTV is less than 80.

Mar 5th 2014
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Robert Hanson (rhanson)
#38 ranked lender in Maryland - 646 contributions

I would agree with the previous with some exception. Depending on your credit score, the HARP could be a better rate and you often will not have to pay for an appraisal. Even with a very high credit score, my interest rates are exactly the same at 8-% LTV for a HARP loan as they are for a regular conventional loan. So you really need someone to map out both options pros and cons to determine which is smarter for you. I'm happy to help with the financing or just give you advice. If you need more information, or a competing rate quote call, email or use my live support button to discuss or get in touch with me. Web Address for live chat or quote is: http://www.loansfromrob.com/quote/ Email is robertlh66@verizon.net and direct phone is 240-752-7549. Good Luck -- Rob Hanson

Mar 5th 2014
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Jason Vondrak (jvondrak)
#221 ranked lender in California - 1,741 contributions

Yes, but if the property is not upside down, you may just be able to get a conforming loan.

Mar 5th 2014
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Michelle Curtis Loan Originator NMLS 401173 (MichelleCurtisLO)
#77 ranked lender in Florida - 2,245 contributions

Yes but it is designed to help underwater home owners so other than not wanting to pay for an appraisal a regular conventional loan may be better pricing depending on credit and income.

Mar 5th 2014
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Joe Metzler (JoeMetzler)
#1 ranked lender in Minnesota - 4,747 contributions

Yes, you can do a HARP and be under 80%

Mar 5th 2014
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Mike Purkey (mpurkey)
#44 ranked lender in Kansas - 26 contributions

Yes, you can do a HARP loan for an LTV of less than 80%. Most folks do not think of using a HARP loan for this situation, but they have some key benefits that could work in that situation. The key is that every persons situation is a little different, so you need to make sure you have a loan officer that explores all alternative to find the one that fits you best. Please give me a call and we can discuss (316-259-5862) or www.prmiwichita.com/mpurkey and hit the Apply Now button.

Mar 5th 2014
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Sean Young (SeanYoung)
#1 ranked lender in Colorado - 1,112 contributions

The answer is Yes, as long you as you qualify. :)

Mar 5th 2014
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