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Home Affordable Refinance Program (HARP)

Declining home values are a reality for many homeowners, and it can be difficult to obtain a traditional refinance when you owe more on your home than it’s worth. Fortunately, there are options to pursue refinancing with the help of the government-sponsored Home Affordable Refinance Program (HARP). HARP is designed to help you save on your mortgage payments and improve your overall financial health.

You may qualify for HARP if:

  • Your mortgage is owned or guaranteed by Freddie Mac or Fannie Mae
  • You are up to date on your mortgage payments
  • You have demonstrated an acceptable payment history for your mortgage
  • You apply for refinancing on or before September 20, 2017

Benefits of HARP:

  • The HARP program could help you move into a more stable loan program - switching from an adjustable-rate mortgage to a fixed-rate mortgage - for long-term security
  • You might be able to secure a lower, fixed interest rate
  • It could reduce your monthly mortgage payment
  • It can improve your financial situation
  • You may be able to roll the refinancing closing costs into your new loan and likely don't need to bring cash to closing
  • HARP loans often don't require an appraisal

If you want more information on HARP or need to determine if you are eligible to participate in the HARP program, contact a SunTrust Mortgage loan officer, or call 800.330.4684.

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