HARP Refinance Guidelines

There are a few basic guidelines that must be met in order for a California homeowner to be able to refinance using the Home Affordable Refinance Program. Not everyone in California will qualify for the HARP program. But for those that meet the following basic guidelines, HARP will be their best shot in years to take advantage of low interest rates in 2012.

  • Your current mortgage must be owned by either Fannie Mae or Freddie Mac. We can help you determine this, or you can check directly with Fannie Mae or Freddie Mac.
  • Your loan was sold to Fannie Mae or Freddie Mac prior to May 31, 2009.
  • Your loan was not refinanced under HARP previously, unless it was Fannie Mae loan that was refinanced using HARP from March 2009 through May 2009.
  • Your loans current loan to value is greater than 80%.
  • You cannot have had a mortgage late in the most recent 6 months, and cannot have had more than 1 in the last 7 through 12 months.