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Home Affordable Refinance Program with a second mortgage

So you are looking to take advantage of today’s lower rates, but you have a first and a second mortgage.  If you have a Fannie Mae loan (click here to see if you do) or a Freddie Mac loan (click here to see if you do) and you owe more than the value of the home, then the HARP programs can help you!

 

Freddie Mac's HARP program, called Open Access Relief, allows you to refinance an existing first mortgage into today’s lower interest rates with NO LIMIT on the total amount you owe on the property.  Your existing second mortgage will remain in place and only the first mortgage will be refinanced into the new lower interest rate and payments

 

There is no maximum combined loan-to-value (CLTV) ratio under the Open Access Relief program.  As long as the first mortgage is less than 105% of the current value of the home, there are no limitations on the dollar amount or CLTV of the second mortgage.

 

Fannie Mae's HARP program, called DU Refinance Plus, allows you to refinance an existing first mortgage into today’s lower interest rates with no limit on the loan to value ratio of the first mortgage or the combined loan to value ratio on the property.  Your existing second mortgage will remain in place and only the first mortgage will be refinanced into the new lower interest rate and payments

 

 

 

Click here to visit Fannie Mae's property lookup website to see if your property is eligible for refinance under the DU Refi Plus program.

 

Click here to visit Freddie Mac's property lookup website to see if your property is eligible for refinance under the Open Access Relief program.

 

Click Get Rates to get an online rate and payment quote under the HARP programs. 

 

Speak With A Loan Coordinator 

 

Would you prefer to speak with a Loan Coordinator over the telephone?  Please call us directly at   1-800-276-CYOL(2965) and choose option 1.  Or, click here to have one of our experienced representatives contact you directly.