Home Affordable Refinance Program (H.A.R.P.)

A critical part of Fannie Mae's role in the Making Home Affordable^SM program is Home Affordable Refinance, available for refinances of existing Fannie Mae loans only. The goal of the refinance effort, as announced by the President, is "to provide access to low-cost refinancing for responsible homeowners suffering from falling home prices." The expectation is that refinancing a Fannie Mae loan will put responsible borrowers in a better position by reducing their monthly principal and interest payments or moving them from a more risky loan structure (such as interest-only or short-term ARM) to a more stable product.

The Home Affordable Refinance Propgram announced by the Department of the Treasury on March 4, 2009, is for borrowers who have demonstrated an acceptable payment history on their mortgage but due to a decline in home prices or where mortgage insurance (MI) is not available, have been unable to refinance to obtain a lower payment or move to a more stable product.

Effective April 2, 2009, this program is now available and we look forward to the opportunity to see if this program may assist you in dropping your current monthly mortgage payment, or provide you a more stable loan program to meet your needs.

**In order to be eligible for this program, your loan must have been sold to Fannie Mae.  In order to check to see if your loan is currently owned by Fannie Mae please visit the following link: 

http://loanlookup.fanniemae.com/loanlookup/

If your property is listed, or you need assistance with checking your homes address in the database, please call us.  We will be happy to help!