Freddie Mac & Fannie Mae: In order to be eligible for HARP, your existing mortgage must be owned or guaranteed by Freddie Mac or Fannie Mae. If you’re unsure whether your loan is owned or guaranteed by either, you can use the online lookup tools from Freddie Mac and Fannie Mae.
Date of origin: Only loans that originated on or before May 31, 2009 are eligible under HARP. The above lookup tools can provide you with the date of origin of your existing mortgage.
Loan-to-value ratio (LTV): Loan-to-value ratio is equal to the current balance of your mortgage divided by the current market value of your home. Your LTV must be greater or equal to 80% to qualify for HARP assistance, but there’s no upper limit on how much negative equity you can have.
Payment history: To qualify for HARP, you must be current on your mortgage payments. Additionally, you must have been no more than 30 days late on a payment within the last six months and not over 30 days late more than once in the last year.
Type of residence: To refinance a home under HARP, the residence must be either your main residence, a secondary, single-unit residence or an investment property comprised of no more than four units.