What Is The Home Affordable Refinance Program?

HARP 2.0 is the latest version of President Obama’s Home Affordable Refinance Program. It allows homeowners whose homes were purchased at high interest rates during the height of the housing bubble to refinance their mortgages for up to twice the value of their homes, at today’s much lower interest rates.

The President’s refinance program is designed to help those people who are “upside down” or underwater on their home loans, owing more than or nearly as much as their home is worth. Traditional mortgage refinances require that you have at least 20% equity in your home, which is a problem for many people whose home prices have fallen in recent years.

You can learn more about the HARP program, or start the application process to get a HARP refinance loan.