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What is the difference between HARP and DU Refi Plus?

by SCarwin from Sheridan, Oregon. Dec 6th 2012 Reply


William J Acres (William_Acres)
#1 ranked lender in Arizona - 8,707 contributions

They are terms used interchangeably... Only the mortgage industry will refer to DU Refi Plus or Open Access.. Most of the media will refer to them as HARP loans.. 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. 480-287-5714 WilliamAcres.com

Dec 7th 2012
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Chad Scott (ChadScott)
#13 ranked lender in Washington - 10 contributions

HARP is the generic term for the Home Affordable Refinance Program. DU Refi Plus is Fannie Mae's HARP program, whereas Freddie Mac has a similar program called Open Access. They are the HARP programs for each Government Sponsored Entity (GSE).

Dec 6th 2012
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Joe LaVallie (joe.lavallie)
#68 ranked lender in Washington - 125 contributions

Good answer Chad!

Dec 6th 2012
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Joe LaVallie (joe.lavallie)
#68 ranked lender in Washington - 125 contributions

Good and correct answer Chad

Dec 6th 2012
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Barb Lanis (BarbLanis)
#70 ranked lender in Illinois - 663 contributions

Chad is correct. However, your refinance options are dependent on whether Fannie or Freddie guarantee your loan. Each has similar guidelines, yet each are independently quirky.

Dec 6th 2012
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Carlo Sanchez (MortgageLendingPro)
#0 ranked lender in Utah - 1,163 contributions

Yes, Well answered!!

Dec 6th 2012
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Joe Metzler (JoeMetzler)
#1 ranked lender in Minnesota - 3,915 contributions

DU Refi Plus is the name given the Fannie Mae version of HARP

Dec 7th 2012
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