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requirements for harp loan

HARP 3.0 Requirements . Are you eligible for HARP? To qualify for this program, your loan has to be owned by Fannie Mae or Freddie Mac; FHA loans do not qualify. The loan must have been closed before May 31, 2009. The loan to value or LTV has to be within 80% to 200%.

The mortgage industry is buzzing about HARP 2, the revamped federal home. There are some very basic requirements all loans must meet.

HARP Program Requirements In order to participate in HARP you need to meet the following requirements: Your mortgage must be owned or guaranteed by Fannie Mae or Freddie Mac You must be current on your mortgage, and cannot have made a payment more than 30 days late in the past year.

but you have to demonstrate you are capable of paying your loan on time. To qualify, you have to meet very specific HARP eligibility requirements such as: Your loan is underwater. An “underwater”.

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Yes. You can still qualify for HARP even if you’ve had a late payment. call (800) 251-9080 to talk to a Home Loan Expert, or answer a few quick questions to find out if you qualify.

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HARP Mortgage Program Refinance | Home Affordable Refinance. The key requirement for HARP eligibility is that the home loans must be.

The mortgage MUST be owned or guaranteed by Fannie Mae or Freddie Mac; The mortgage MUST have been sold to Fannie Mae or Freddie Mac on or before May 31, 2009. The mortgage CANNOT have been refinanced under HARP previously unless it is a fannie mae loan that was refinanced under HARP from March-May, 2009.

One of the most important requirements for HARP is that your loan must be owned or guaranteed by either Fannie Mae or Freddie Mac. This is true regardless of the specific lender you pay each month. You can use the simple online forms to determine if your loan is owned by Fannie Mae or owned by Freddie Mac. Each form requires a name, address, and the last four digits of your social security number.

As with the Refi Plus loans with LTV ratios above 105%, Refi Plus loans with LTV ratios above 125% may be delivered into existing mbs contracts using the same base guaranty fees as those used for the lender’s standard conforming mortgage loans.

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