Rhode Island HARP Lender: 855-674-8525

What Is HARP 2.0?

HARP is part of the Obama Administration's #MyRefi Plan to help underwater homeowners refinance into a lower rate or better loan term to save on monthly mortgage payments and to prevent foreclosure.


Am I Eligible For HARP?

You may be eligible to take advantage of the updated changed to the Home Affordable Refinance Program if your mortgage is owned or guaranteed by either Fannie Mae or Freddie Mac and you have little or no equity in your property.


Getting The Best Rate

Underwater homeowners have a greater opportunity to take advantage of today's best interest rates since many of the penalities and challenges associated with refinancing out of a higher LTV loans have been removed.


About The Rhode Island HARP Home Affordable Refinance Program

HARP Refi Program Overview

Known as HARP 2.0, HARP 3.0, DU Refi Plus or the Obama Refinance Program #MyRefi, the Home Affordable Refinance Program is designed to assist homeowners in refinancing their mortgage when the value of their home has declined, making traditional refinancing no longer an option.

HARP stands for the Home Affordable Refinance Program, which is a government loan program that was recently updated to help more people who have underwater mortgages.

Since many homeowners were caught in a time period of rapidly declining property values, there was a need to create a refinancing opportunity for those that lost significant value in their properties but made their mortgage payments on time.

Refinancing your mortgage through the Obama Administration's HARP program will could help you save hundreds of dollars on monthly payments or obtain a more secure loan program, regardless of how much your home will appraise for.

Basic HARP Eligibility Requirements

For help checking to see if your loan is eligible for HARP, CLICK HERE, or feel free to call us at 855-674-8525 to speak directly with a Rhode Island licensed HARP lender about your refinance options for your Providence underwater mortgage.

  • Your home loan is guaranteed by Fannie Mae or Freddie Mac.
  • Your loan was originated on or before May 31, 2009.
  • You are current on your mortgage payments.
  • You have had NO thirty day late payments for six months.
  • You have had NO sixty day late payments for 12 months.
  • You owe more than 80% of your home's estimated value.

Benefits Of Refinancing With HARP

Bottom Line - The HARP program that is specifically tailored for borrowers suffering from negative equity does not have the same set of requirements or criteria as traditional or conventional loans.

  • Unlimited Loan-to-Value Restrictions - to allow more people to refinance, regardless of their home's appraised value.
  • Lower Banking Fees & Rates - by allowing lender participation, homeowners can shop around for the best deal vs being stuck with the bank that they are currently making their mortgage payments to.
  • Owner, Investment, Second Homes OK - not just limited to owner occupied properties, investors and landlords can benefit with a HARP Mortgage Refinance as well.
  • Less "Red Tape" - removing many of the barriers that have previously prevented people from refinancing, such as appraisals, complicated subordination agreements with second lenders and mortgage insurance transfers.

More than 3.2 million have refinanced through HARP and thousands more underwater homeowners are still eligible


See if you are eligible for HARP today!

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