There are many harp 2.0 eligibility requirements requirements that prevent most borrowers from using the program today. We review program.
Due to the nature of HARP, only those without significant home equity can qualify to refinance through the program. In fact, in order to be eligible for HARP, the loan-to-value (LTV) ratio of your mortgage and home must be at least 80%.
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The obvious difference between HARP and a regular refinance lies with the eligibility requirements. HARP was designed to pick up the slack left by lenders’ unwillingness to let people with high-LTV homes refinance. If you don’t qualify for a regular refinance, you may qualify for HARP.
But in order to qualify for a HARP refinance, borrowers have to meet all. The main eligibility requirement for this program is that the borrower.
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The current HARP program has been extended to December 31, 2018. See if you’re eligible for a harp-alternative program. harp 3.0 was a possible enhancement to the HARP program that would eliminate some rules and allow more to qualify. However, HARP updates are unlikely to happen at this point, since the program is set to expire in 2018.
If you qualify for the program and have not yet refinanced, you have until the end of September 2017 to complete your refinancing effort. To qualify for HARP, you must meet the following criteria:
The HARP program can help! The Home Affordable Refinance Program , also known as HARP , is a federal program of the United States, set up by the Federal Housing Finance Agency in March 2009 to help underwater and near-underwater homeowners refinance their mortgages.
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The 2.0 program eligibility requirements are very similar to the original HARP program. On or before June 1, 2009, your mortgage must be owned by either Frannie Mae or Freddie Mac Your mortgage must be current with no 30 day or more late payments in the last six months, and only one late payment within the last year