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HARP Refinance Program

Las Vegas HARP Refinance ProgramNevada HARP Refinance Program

The Nevada Home Affordable Refinance Program (HARP) was made to help families who are looking to refinance their current mortgage but are having trouble doing so, because the value of their home has decreased.

The HARP Program helps borrowers in Las Vegas establish a more affordable and stable home loan by refinancing their current Las Vegas mortgage. This program was established in order to help near-underwater and underwater homeowners refinance to a lower mortgage rate.


Basics of the Nevada HARP Program

Known as HARP 2.0, DU Refi Plus or the Obama Refinance Program, the Home Affordable Refinance Program is designed to assist homeowners in refinancing their mortgage when the value of their home has declined, making traditional refinancing no longer an option.

HARP stands for the Home Affordable Refinance Program, which is a government loan program that was recently updated to help more people who have underwater mortgages.

Requirements of the Home Affordable Refinance Program (HARP) in Las Vegas

Your history mortgage needs to have been perfect for the past 6 months meaning, no late payments in order to be eligible for the HARP Loan Program. Your mortgage history should reflect no more than one late payment within the past 12 months while still maintaining a perfect payment history within the last 6 months.

A few other requirements for eligibility for the HARP Program are listed below:

  • A credit score of at least 620 or higher is needed.
  • Debt-to-Income must be below 45%.
  • Perfect mortgage payment history within the past 6 months.
  • Must be current on your mortgage payments.
  • Your current home loan is owned or guaranteed by Fannie Mae or Freddie Mac.
  • You currently owe more than your home’s worth, or there is minimal equity in your home.
  • You have had no 60 day late payments in the past 12 months.

There are many benefits to the HARP Refinance Program, you can find out more by clicking on the overview tab.