HARP Eligibility Guidelines

The Home Affordable Refinance Program (HARP), launched jointly by the Federal Housing Finance Agency (FHFA) and the US Treasury Department set certain new eligibility guidelines for Washington State Homeowners who had purchased homes with mortgages and were subsequently ineligible for refinancing due to declining home values in their area. This was a major hindrance in refinancing their present mortgages with lower interest rates or shorter loan terms. With changes announced in HARP eligibility guidelines (now called HARP 2.0), more Homeowners will now be eligible for HARP assistance.

The expansion of the 125% loan-to-value for fixed rate Freddie Mac or Fannie Mae mortgages and the possibility of the exclusion of appraisals for properties where there is a reliable Automated Valuation Model or AVM are two such major changes that may make more people eligible.

The goal of the newly modified HARP 2.0 Program is to help stabilize the real estate market and encourage people to stay in their homes and begin rebuilding home equity.


HARP Eligibility Basic Guidelines*

1. Your loan must be backed by Freddie Mac or Fannie Mae

2. Your mortgage must have been purchased by Fannie Mae or Freddie Mac before May 31, 2009.

3. You must be current on your home loan payments, which means you cannot have been late on a payment during the past six months or made a late payment more than once in the last 12 months. 

4. Your mortgage has not previously been refinanced under HARP unless it is a Fannie Mae loan that was refinanced from March - May 2009.

5. No Modifications or Shortsales.

6. Your property cannot be currently listed for sale.

*Contact your loan officer for details. Additional restrictions may apply.


If you believe your loan type or situation is a special case, please give us a call at 425-289-1102 to discuss your options.

How to Determine If Your Loan Is Backed By Fannie Mae or Freddie Mac

Unfortunately, Washington homeowners rarely know who "owns" their mortgage loan. Normally, homeowners receive their monthly statements, and make their monthly payments, to their mortgage servicer. This is usually not the company that provided the funds originally to make the loan.

You can check "lookup" forms on the Fannie Mae and Freddie Mac web sites. However, keep in mind that these web forms are not always accurate as the address would have to be exactly the same as was recorded with Fannie or Freddie. For more accuracy, contact us.

Click Here To Check Fannie Mae | Click Here To Check Freddie Mac


Or, you can have us check for you:

Click Here To Have Us Check Your HARP Eligibility & To Request a FREE, No-Obligation HARP Rate Quote


Your Next Step?

Apply For The HARP Program – Making Home Affordable Refinance


Getting approved for a HARP 2.0 refinance involves the following steps:

Step 1: Find out if your mortgage is owned by Fannie or Freddie & Eligible For The HARP Program

Step 2: Print the HARP 2.0 Checklist

Step 3: Submit your HARP Online Application

Step 4: Meet with Michael Patterson, Branch Mgr to go over the final numbers, closing date, etc.

If you have any questions or concerns, please don't hesitate to call my office at 425-289-1102 or email me at Info@LandHomeNW.com . I am here for you!

Michael Patterson, Branch Mgr
HARP Program Specialist

NMLS ID / WA MLO # 69386

Email: Info@LandHomeNW.com

Phone: 425-289-1102

Contact Michael Patterson, Branch Mgr, your Washington HARP Refinancing Expert, to setup a free consultation to determine if you are eligible for the HARP program. I will be honored to work with you!

Land Home Financial Services, Inc.
Michael Patterson, Branch Mgr
Phone: 425-289-1102

Equal Housing Opportunity Lender. Land Home Financial Services, Inc. is a mortgage finance company and does not represent parties to Real Estate transactions or operate as a Real Estate company. The Agent Mastermind free webinars and marketing strategies are a service of a third party vendor, is offered as a convenience service only, and should not be construed an endorsement of any particular company. The accuracy of all information, regardless of source, is not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals. Land Home makes no guarantee or promises on success from the use of these services. Use of these services are not to be construed as a commitment to lend. Land Home Financial Services, Inc. only conducts business in the states it is licensed in. Washington Consumer Lending License CL #89331.
Notice: This is a privately owned and maintained
web site and is not a government agency
Equal Housing Opportunity Lender. Not a commitment to lend. Rates, programs, fees and guidelines are subject to change without notice. *Contact your Loan Officer for details, additional restrictions may apply. Land Home only conducts business in states we are approved to. Restrictions may apply. Land Home Financial Services. 22525 SE 64th Place, #220, Issaquah, WA 98027. Washington Consumer Loan Branch Office License - CL-89331. NMLS #69386.