Note: his program ends on September 30, 2017, and the new GSE Streamlined Refinance will take its place in October 2017.

The Home Affordable Refinance Program (HARP) is a program for borrowers with GSE loans who are current on their mortgage. HARP allows those borrowers to refinance to a lower rate (or from an adjustable rate to a fixed rate), even if they do not have equity in the property. HARP is available for both primary residences and rental/investment properties. Origination fees do apply, but are financed, rather than paid out of pocket.  Refinanced mortgages become new mortgages.

Eligible borrowers are not subject to a minimum credit score, there is no maximum debt-to-income ratio or maximum LTV, and an appraisal often will not be required.


  • The mortgage must be owned or guaranteed by Freddie Mac or Fannie Mae.
  • The mortgage must have been sold to Fannie Mae or Freddie Mac on or before May 31, 2009. The borrower should have received a notice from the former and current servicer when the mortgage was transferred.
  • The mortgage cannot have been refinanced under HARP previously, unless it is a Fannie Mae loan that was refinanced under HARP from March-May of 2009. Ask to see the borrower’s refinance agreement to find out.
  • The current loan-to-value (LTV) ratio must be greater than 80%.
  • The borrower must be current on the mortgage at the time of the refinance, with a good payment history in the past 12 months.

Borrowers apply through a HARP approved lender. If the borrower’s current servicer is a HARP approved lender, then the borrower can apply through that servicer. Otherwise, the borrower can find a HARP approved lender on HARP’s website