Michigan HARP Loan Program
What is HARP?
The US Government’s Home Affordable Refinance Program (HARP) is a loan program designed to help Michigan homeowners refinance their Michigan home in situations where home value has declined and, as a result, other MI home loan refinancing programs are not an option. H.A.R.P. loans in that state of Michigan are meant to help homeowners obtain a more affordable and stable MI mortgage.
HARP Loan Requirements (Michigan)
- Michigan homeowners who currently owe more their MI mortgage than the home’s current market value
- Have private mortgage insurance in Michigan
- Have a Fannie Mae or Freddie Mac insured loan
- Have wanted to refinance in Michigan but were told they didn’t qualify
- Michigan refinances of up to 95 percent loan-to-value
- Good payment history on current Michigan loan
- Additional requirements apply
Do refinance fees for HARP Loans in Michigan apply?
Michigan HARP loans require underwriting and a loan application process and underwriting process so refinance fees will apply.
Apply Today
Apply now or contact the MI HARP lenders at Home Point Financial to learn more about the Michigan HARP program and eligibility.
