HARP Program

The Home Affordable Refinance Program (HARP) was a government initiative designed to help homeowners with underwater mortgages refinance into more affordable loans. While the program ended in 2018, understanding it helps explain available options.

What was HARP?

HARP was launched in 2009 to help homeowners whose mortgages exceeded their home's value. It allowed refinancing even when loan-to-value ratios exceeded 100%, something traditional refinancing couldn't support.

Who Benefited?

  • Homeowners with LTV above 80%
  • Those unable to refinance through traditional means
  • Borrowers with good payment history but underwater homes

Current Alternatives

Since HARP ended, similar programs may be available:

  • FHA streamline refinancing
  • VA interest rate reduction refinancing
  • Lender-specific programs
  • State housing finance agency programs

While HARP is no longer available, explore current refinancing options if you're underwater or struggling with your mortgage.