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Do I qualify for the new HARP program?

I have a Freddie mortgage that was eligible for HARP with everything except the LTV, which is around 145%. I haven't been late on a payment in three years and I just read in the paper about the changes. I have a 30 year FRM that I want to refinance, been gainfully employed for 9 years. by scott._841_416 from Washington, District Of Columbia. Nov 16th 2011 Reply


Scott Kinne (Skinne)
#29 ranked lender in Virginia - 71 contributions

If you meet the credit requirements it appears you should qualify for the new HARP program as they have removed the limitation of 125%. However, we lenders are still waiting for final word from the banks as to what the details of this program are going to be. Under the old HARP program, if your loan was owned by Freddie Mac then ONLY your current lender could refinance you. We are hoping the new program allows for other lenders to be able to help those individuals whose loans are owned by Freddie. Hope this helps.

Nov 16th 2011
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Michael DiMarzo (mdimarzo)
#6 ranked lender in Maryland - 21 contributions

The new program hasn't been fully released as of yet. But if all goes well this loan should fit within the new program guidelines. If you have any further questions call me at 410-691-3669.

Nov 16th 2011
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William J Acres (William_Acres)
#73 ranked lender in Arizona - 8,726 contributions

You will qualify, however it will be a few weeks before the lenders start to roll out their programs... I would suggest you contact a local mortgage broker, not a bank and start your application process.. you will be first in line once the programs are announced... WilliamAcres.com

Nov 16th 2011
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Brian Allen (ballen)
#43 ranked lender in Maryland - 191 contributions

Scott as of today the program is just being rolled out on the outset your loan has to be identified as a Fannie or Freddie and been originated or placed in pool of mortgage on or befor June 2009 if all is within these guidelines then your mortgage will qualify you wil need to have a score of 640 or more and an appraisal may or may be required. No origination can take place before January and not close before March. Place me in your calender to contact me or sign up for my newsletter send email to ballen@accessnational.com or phone me directly on 240-750-8315.

Nov 16th 2011
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Glenn Main (gmain07)
#41 ranked lender in Maryland - 10 contributions

You would be a good example of who the program was trying to reach with the new updated guidelines. The program has not been officially rolled out by the lenders yet it is anticipated to come out by January. We are getting all of the information now to get the process started. Feel free to contact us to see what your benefit will be. We are a direct lender which will allow for the best possible rates. Feel free to contact Glenn at 443-471-4314. Look forward to assisting you in your refinancing needs!!!

Nov 16th 2011
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