Asked by Patricia  |  Submitted August 17, 2015

How do I find out if I am eligible for a HARP loan?

I presently have a 5 year arm that I got 2 years ago at 3.25%.

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  Answers  |  2

August 18, 2015

Hi Patricia. Harp loans are only available for borrowers whose loans were closed under Fannie Mae/Freddie Mac guidelines no later than 5/31/2009. You would not be eligible for a HARP loan. The primary advantage of HARPs is the reduced equity requirements. Depending on your loan balance versus value, you may well have other options if you want to lock in a fixed rate. Let me know if I can help! Ted

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December 07, 2016

Typically ARM's are not eligible though more importantly HARP is for loans closed prior to June 1st 2009 and owned by Fannie or Freddie. Feel free to contact me for other options if your home is located in CA.

$commenter.renderDisplayableName() | 10.01.20 @ 13:14