harp mortgage application guidance for homeowners

What it meant

The Home Affordable Refinance Program, or HARP, ran from 2009 to 2018 to help borrowers who owed more than their homes were worth refinance into safer, more affordable loans. While the original pathway has sunset, the lessons and documentation needs from a harp mortgage application still inform today’s streamlined refi options.

Before you proceed

Ask lenders about current alternatives-such as GSE streamlined refinances-that mirror HARP’s intent. Verify ownership of your loan by Fannie Mae or Freddie Mac, confirm a solid payment history, and ensure the new loan meaningfully reduces risk or cost with a clear break-even point.

How to evaluate eligibility

• Ownership check: Use GSE lookup tools or contact your servicer.
• Costs and fees: Request a Loan Estimate and question add-ons.
• Appraisal and LTV: Some programs allow waivers; high LTVs may still qualify.
• Term and rate: Compare 30-, 20-, and 15-year options.

Documents to gather

1. Income proof such as pay stubs or tax returns
2. Recent mortgage statements and escrow details
3. Home insurance declarations
4. Identity and occupancy confirmation

Work with a licensed loan officer, get quotes in writing, and pause if numbers do not clearly improve your long-term outlook.