HARP Loans

Making Home Refinance Affordable

All About HARP Loans

Refinancing your mortgage may be possible using a Home Affordable Refinance Program (HARP) loan, despite not having a significant amount of home equity.

Understanding the Home Affordable Refinance Program
Typically, a substantial amount of equity in your home is necessary to refinance. Using the HARP, property owners are able to refinance a home loan whether or not they owe a tremendous amount (1).

When to Use HARP Loans?
If you are not eligible for other refinance applications, a HARP loan can help you:

  • Reduce your interest rate, or
  • Lower your mortgage payment, or
  • Diminish the duration of your present home loan (2)

Who Qualifies for a HARP Loan?
HARP loans are available to those who:

  • Are up-to-date on their home loan payments
  • Have not previously refinanced the same home using a HARP loan
  • Have a current mortgage backed by Freddie Mac or Fannie Mae, created prior to June 2009

Are You Currently Working With Jet Direct Mortgage?
HARP loans require less paperwork, making the process quite simple for borrowers (3).
Contact Jet Direct Mortgage for more information on HARP loans.

Should you be an active member of the military, serving prior to refinancing your home loan, you may be qualified for financial relief under the Service Members Civil Relief Act. Please contact your legal adviser for more information.

If you would like to know more about HARP loans, do not hesitate to contact us.

(1) For Federal income tax purposes, the interest on any part of credit, that is more than the fair market value of your home, is not tax deductible. Speak to your tax advisor for more information about tax deductibility.

(2)Although diminishing your payment by increasing the time-span of your loan may result in a diminished interest rate, you may wind up paying far more in interest during that increased time-span.


(3)Some refinance programs may require specific documents, however not all programs require this. Sometimes providing unnecessary documentation can result in larger annual percentage rates or interest rates. Remember to contact a Jet Direct Mortgage associate for more information.