What is the HARP Program?

* is an advertorial website that promotes mortgage refinance programs. Whilst we provide our readers with valuable and true information on the products we advertise, a commission is received for the listing of 3rd party advertisers, and this may affect the rankings and brands we recommend. In order to provide our readers with the correct information, below you will find all of the information posted for HARP, on harp.gov to help qualifying homeowners understand how they can benefit.

The Home Affordable Refinance Program (HARP) is a federal program in the United States, founded by the Federal Housing Agency in March 2009. The program was developed to help homeowners with little to no equity refinance onto a lower rate mortgage. This program benefits homeowners who are up to date with payments but have struggled to refinance due to the affected home prices from the US housing market collapse.

There has been numerous changes to the HARP program since it was first introduced, early in 2011 the Loan-To-Value ceiling was removed, along with other restrictions that were in place. In 2013, the eligibility date was changed, from the initial date the loan was acquired by Fannie Mae or Freddie Mac to the date on the note, which drastically increased the number of homeowners that were eligible. The HARP program was also extended and now has to be approved before December 2018.

Most Homeowners use HARP to refinance into a lower interest rate mortgage, which ultimately lowers monthly payments, adjust the loan term or switch to a fix-rate mortgage. According to the Government HARP website, the average homeowner saves $179 per month.

Even homeowners that were initially turned down for HARP may now be eligible since some of the restrictions were removed.

Find out what requirements are currently in place for HARP.