Welcome to Bank-Rates

HARP LOAN

Back to Programs

HARP loan is the only Federal Refinance Program that enables an eligible borrower with no equity in their home to take advantage of low interest rates and other refinancing benefits, even if they owe more on their mortgage then the home value is appraised for. The Federal Housing Finance Agency in March 2009 passed HARP to allow home owners to take advantage if their loan-to-value exceeded

HARP LOAN

What is a HARP LOAN

HARP loan is the only Federal Refinance Program that enables an eligible borrower with no equity in their home to take advantage of low interest rates and other refinancing benefits, even if they owe more on their mortgage then the home value is appraised for. The Federal Housing Finance Agency in March 2009 passed HARP to allow home owners to take advantage if their loan-to-value exceeded 80% without also having to pay for Private Mortgage Insurance as part of the Making Affordable Home Loan Program. So far over 3.3 million households have taken advantage of this program.