How to Qualify for the New Home Affordable Refinance Program (HARP)?

Late last year Obama Government released the guidelines for the new and expanded HARP 2.0 (Home Affordable Refinance Program). The program is called by several names - 
  • Upside Down Mortgage Refinance
  • Underwater Home Mortgage Refinance
  • Obama Government Refinance Program

While this will help homeowners in several states, some states that could benefit the most are California, Nevada, Arizona and Florida. If you are in a situation where there is little to no equity in your house and would like to reduce your mortgage payments by availing of historical low interest on.

To be eligible for the New Home Affordable Refinance Program, you need to meet the following guidelines:
  • Your current Loan should be owned/serviced by Fannie Mae or Freddie Mac. Fannie Mae, Freddie Mac Loan Look up.
  • Your current Loan should have closed before June 2009.
  • You should not have refinanced using a HARP loan before.
  • You should have no mortgage late in last 6 months and no more than 1 late in 7-12 months. However, if you dont meet this criteria, you could wait for few months without making any further default and may become eligible.

A full blown launch by most of the lenders are expected in 3rd week of March, 2012. The program will continue till end of 2013. Go to this link to find out more about the California HARP Loan Guidelines. To get the latest news on HARP and get quotes for best HARP Refinance Rates - visit or the California HARP Refinance Facebook Page.

You can also contact Arcus Lending, a California HARP (Home Affordable Refinance Program) Approved Mortgage Lender at 408.615.0655 or


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