FNMA HOME AFFORDABLE REFINANCE AKA DU REFI PLUS LOANS AKA HARP 2.0

Home Affordable Refinance provides refinance opportunities to borrowers with existing Fannie Mae loans who have demonstrated an acceptable payment history on their mortgage but have been unable to refinance to obtain a lower payment or move to a more stable product. Homes without monthly mortgage insurance are eligible to refinance up to the LTV limits below without adding monthly mortgage insurance.

These refinance options are intended to assist borrowers by providing a benefit that seeks to ensure long-term homeownership sustainability. We must represent and warrant that the borrower is receiving a benefit in the form of either:

A reduced monthly mortgage principal and interest payment;

A reduced interest rate;

A reduced amortization term; or

A more stable mortgage product; for example, movement from an ARM to a fixed-rate mortgage

Occupancy

MAX LTV

125%

125%

105%