FHFA Extends HARP Assistance for One More Year
FHFA Extends HARP Assistance for One More Year
FHFA Extends HARP Assistance for One More Year
Helpful
Tools
Mortgage
Calculator

Estimate your monthly payment for a home purchase or refinance
Auto Loan
Calculator

Determine how much car you can afford before buying
Learn About
Mortgage Loans

Learn about mortgage loans to find the one that's right for you
15 Year vs 30 Year
Loan Comparison

Compare payments between a 15 year and 30 year mortgage loan
Today's Mortgage
Rates

See today's current mortgage rates. Shop, compare and save.

March 14, 2011 (Shirley Allen)
mortgage-fhfa-extended-image
The Federal Housing Finance Agency (FHFA) announced that it will extend the Home Affordable Refinance Program (HARP) until June 30, 2012. Acting Director Edward J. DeMarco also announced in the press release that HARP loans would be exempt from the recently announced price adjustments and that Fannie Mae has changed the eligibility date for the program to May 2009.

HARP was set to expire on June 30, however, an extension to HARP was considered likely after the Mortgage Bankers Association (MBA) lobbied FHFA back in February for an extension of the program.

HARP was designed to help mortgage borrowers who are current on their mortgages but whose home value was less than what their current mortgage amount is, also known as being “underwater.”

In order to qualify for HARP:

1) You must be current in your mortgage payments;

2) Must have the ability to pay the new mortgage payment amount;

3) Your mortgage must owned or guaranteed by Fannie Mae or Freddie Mac;

4) The principle amount of your first mortgage cannot be more than 125% of your home’s current value;

5) The refinance must improve either the affordability or sustainability of you mortgage situation (by sustainability they mean getting you out of fluctuating interest rates).

Through 2010, Fannie Mae and Freddie Mac purchased or guaranteed more than 6.8 million refinanced mortgages. Of this total, 621,803 were HARP refinances with LTVs between 80 percent and 125 percent. This is up from 190,180 in 2009, when HARP began.

More information is available at www.MakingHomeAffordable.gov.

Tags: FHFA, HARP, MBA, mortgage borrowers, loan modification, Fannie mae, Freddie Mac

FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at LoanRateNetwork and the offers you have received, you've found the right product and the best rate.
HOW LOANRATENETWORK
LOAN CENTER WORKS
ADVANTAGES OF USING
LOANRATENETWORK
FAST & EASY. DATA ENCRYPTED
Applying to multiple lenders is fast and easy with our one simple questionnaire. Choose the product you’re looking for, take a few moments to answer a few questions and you’re on your way to saving.
NO OBLIGATION. NO HIDDEN FEES
Any of the services on our website are 100% free, there is no obligation to use our services or any hidden fees. We’re not loan brokers so we don’t charge broker fees like other websites.
NO SSN OR CREDIT CHECK
No SSN or credit check is necessary to use our services. We bring lenders to you so they can compete for your business and you save. That information only becomes necessary after you choose a lender.
Helpful Tools
Mortgage
Calculator

Estimate your monthly mortgage payment
Auto Loan
Calculator

Determine how much car you can afford before buying
Learn About
Mortgage Loans

Learn about the different types of home loans
15 Year vs 30 Year
Loan Comparison

Compare 15 year and 30 year mortgage loans
Todays Mortgage
Rates

See today's mortgage rates. Shop, compare and save.

March 14, 2011 (Shirley Allen)
mortgage-fhfa-extended-image
The Federal Housing Finance Agency (FHFA) announced that it will extend the Home Affordable Refinance Program (HARP) until June 30, 2012. Acting Director Edward J. DeMarco also announced in the press release that HARP loans would be exempt from the recently announced price adjustments and that Fannie Mae has changed the eligibility date for the program to May 2009.

HARP was set to expire on June 30, however, an extension to HARP was considered likely after the Mortgage Bankers Association (MBA) lobbied FHFA back in February for an extension of the program.

HARP was designed to help mortgage borrowers who are current on their mortgages but whose home value was less than what their current mortgage amount is, also known as being “underwater.”

In order to qualify for HARP:

1) You must be current in your mortgage payments;

2) Must have the ability to pay the new mortgage payment amount;

3) Your mortgage must owned or guaranteed by Fannie Mae or Freddie Mac;

4) The principle amount of your first mortgage cannot be more than 125% of your home’s current value;

5) The refinance must improve either the affordability or sustainability of you mortgage situation (by sustainability they mean getting you out of fluctuating interest rates).

Through 2010, Fannie Mae and Freddie Mac purchased or guaranteed more than 6.8 million refinanced mortgages. Of this total, 621,803 were HARP refinances with LTVs between 80 percent and 125 percent. This is up from 190,180 in 2009, when HARP began.

More information is available at www.MakingHomeAffordable.gov.

Tags: FHFA, HARP, MBA, mortgage borrowers, loan modification, Fannie mae, Freddie Mac

FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at LoanRateNetwork and the offers you have received, you've found the right product and the best rate.
HOW LOANRATENETWORK
LOAN CENTER WORKS
ADVANTAGES OF USING
LOANRATENETWORK
FAST & EASY. DATA ENCRYPTED
Applying to multiple lenders is fast and easy with our one simple questionnaire. Choose the product you’re looking for, take a few moments to answer a few questions and you’re on your way to saving.
NO OBLIGATION. NO HIDDEN FEES
Any of the services on our website are 100% free, there is no obligation to use our services or any hidden fees. We’re not loan brokers so we don’t charge broker fees like other websites.
NO SSN OR CREDIT CHECK
No SSN or credit check is necessary to use our services. We bring lenders to you so they can compete for your business and you save. That information only becomes necessary after you choose a lender.
Helpful Tools

March 14, 2011 (Shirley Allen)
mortgage-fhfa-extended-image
The Federal Housing Finance Agency (FHFA) announced that it will extend the Home Affordable Refinance Program (HARP) until June 30, 2012. Acting Director Edward J. DeMarco also announced in the press release that HARP loans would be exempt from the recently announced price adjustments and that Fannie Mae has changed the eligibility date for the program to May 2009.

HARP was set to expire on June 30, however, an extension to HARP was considered likely after the Mortgage Bankers Association (MBA) lobbied FHFA back in February for an extension of the program.

HARP was designed to help mortgage borrowers who are current on their mortgages but whose home value was less than what their current mortgage amount is, also known as being “underwater.”

In order to qualify for HARP:

1) You must be current in your mortgage payments;

2) Must have the ability to pay the new mortgage payment amount;

3) Your mortgage must owned or guaranteed by Fannie Mae or Freddie Mac;

4) The principle amount of your first mortgage cannot be more than 125% of your home’s current value;

5) The refinance must improve either the affordability or sustainability of you mortgage situation (by sustainability they mean getting you out of fluctuating interest rates).

Through 2010, Fannie Mae and Freddie Mac purchased or guaranteed more than 6.8 million refinanced mortgages. Of this total, 621,803 were HARP refinances with LTVs between 80 percent and 125 percent. This is up from 190,180 in 2009, when HARP began.

More information is available at www.MakingHomeAffordable.gov.

Tags: FHFA, HARP, MBA, mortgage borrowers, loan modification, Fannie mae, Freddie Mac

HOW LOANRATENETWORK
LOAN CENTER WORKS
FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at LoanRateNetwork and the offers you have received, you've found the right product and the best rate.
ADVANTAGES OF USING
LOANRATENETWORK
FAST & EASY. DATA ENCRYPTED
Applying to multiple lenders is fast and easy with our one simple questionnaire. Choose the product you’re looking for, take a few moments to answer a few questions and you’re on your way to saving.
NO OBLIGATION. NO HIDDEN FEES
Any of the services on our website are 100% free, there is no obligation to use our services or any hidden fees. We’re not loan brokers so we don’t charge broker fees like other websites.
NO SSN OR CREDIT
CHECK
No SSN or credit check is necessary to use our services. We bring lenders to you so they can compete for your business and you save. That information only becomes necessary after you choose a lender.