Is HARP the same thing as an FHA Streamline Refinance?

Enter your answer here No the Harp is a Conf Streamline Refinance and FreddieMac or Fanniemae has to own the loan. Any question feel free to call 410-788-9100 ext 2914

No. They are different. FHA allows a streamline refinance with limited documentation for borrowers refinancing an FHA loan. HARP and HARP2.0 are for borrowers with a FNMA or FHMC owned loan. In many ways the requirements and process are similar. ~ Bert Carpenter, The LoansA2z team of NOVA Home Loans ~ NMLS 40586 ~ www.LoansA2z.com

Hi Debbie,HARP loans are refinance programs for borrowers in conventional (Fannie/Freddie) loans that are typically greater than the current value of the house. They still require a borrowers income and asset documents as well as a 12 month payment history with no lates.Generally, an FHA streamline refinance does not require the income/asset documentation normally required. Nor is there an appraisal required. A credit report is pulled to qualify and the 12 month payment history should have no lates.Lenders have initiated their own guidelines as well so it's a good idea to contact a licensed mortgage broker in your area to help guide you through the process. I operate out of Flagler County but would be happy to assist you should you not have anyone closer in Inverness.steve@communitymortgagesolutions.com

Hey Debbie... FHA streamlines are for FHA insured loans and it's a built in feature on evey FHA loan issued since the late 80's. The HARP program, both the original and the latest 2.0 version, are goveronment programs intended for conventional borrowers who are upside down on thier loans. The HARP program has a deadline, and is specific to Fannie Mae / Freddie Mac loans issued prior to May 2009. The requirements are similar, however none of the lenders have released their over lay's (additonal guidelines) for the HARP 2.0 program. WilliamAcres.com

No they are not the same. Contact with any questions.