HARP LoanThere were more than 700,000 successful refinances through HARP 2.0 (Home Affordable Refinance Program) in 2012. The typical HARP homeowner saved 33 percent on their monthly payments. If you are underwater on your loan or have been unable to refinance your home loan because your home value has dropped, you may be able to take advantage of today’s lower interest rates with HARP 2.0 through December 2016.

 As a licensed lender with over 15 years in the industry, Christensen Financial can help you answer any questions you have before you refinance. If your question isn't listed here, please contact us and we would be happy to help.

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    How do I apply?
    Easy! Since we're an approved Fannie Mae/Freddie Mac HARP 2.0 lender, all you need to do is submit a loan application, and we'll get in touch with you soon!

    What is HARP 2.0?
    HARP 2.0, also known as the Making Home Affordable program, was created to offer homeowners a chance to refinance without paying private mortgage insurance, but not to avoid foreclosure. The program is available for investment properties, condominiums and vacation home refinancing.

    The program assists borrowers who have demonstrated an acceptable payment history on their existing Fannie Mae or Freddie Mac mortgage, but may not have been able to refinance to obtain a lower payment or move to a more stable product due to not having equity in their home. With this new program, there is no equity and no appraisal required.

    The goal of the refinance effort, as announced by the President, is "to provide access to low-cost refinancing for responsible homeowners suffering from falling home prices." HARP 2.0 refinancing can help put responsible borrowers in a better position by reducing their monthly principal and interest payments.

    Am I eligible?

    You may be eligible to refinance under HARP 2.0 if you meet all of the following requirements:

    • Mortgage was sold to Fannie Mae or Freddie Mac on or before May 31, 2009
    • Must be current on the mortgage with no late payments in the past six months
    • Current Loan to Value is greater than 80 percent
    • Only one HARP refinance per mortgage allowed
    If you don't know who currently funds your loan, you can look it up here:

    How much can I refinance?
    Your HARP 2.0 limit is usually determined by your city's limit for a Jumbo Mortgage, which is, typically, $417,000.

    How much will I save?
    Use our Mortgage Refinancing Calculator to determine just how much you'll save by refinancing with HARP 2.0 for a lower interest rate.

    What are the HARP 2.0 closing costs?
    HARP 2.0 closing costs are significantly lower than the first Home Affordable Refinance Program, but they will vary based on your current financial situation, the market, and which state your loan is in. There is also no appraisal fee with refinancing with HARP 2.0, which could save you as much as $500.

    What is the HARP 2.0 expiration date?
    HARP 2.0 was extended to December 31, 2016, while Congress debates HARP 3.0, giving you more than two years to refinance for a lower mortgage rate.