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