HARP Refinancing2017-05-16T18:20:17+00:00

Get A New, More Affordable Mortgage

HARP stands for Home Affordable Refinance Program, which is an initiative from the Federal Housing Finance Agency (FHFA). The program assists homeowners whose homes are now worth less than what they owe.  Just recently, new chances were added to the program, making refinancing options available again to an estimated one million more homeowners.

If you are a responsible homeowner, but the current marketplace loan-to-value (LTV) requirements and need for a new appraisal have made it difficult or impossible for you to refinance at today’s record low interest rates, First Option may be able to help you without requiring a new appraisal or meeting previous LTV requirements.

In today’s world, the Home Affordable Refinance Program (HARP) might be a way that you can refinance your home if your home loan exceeds your home value. If you are current on your mortgage payments but have been unable to get traditional refinancing because the value of your home has declined, you may be eligible to refinance through HARP.

This program is designed to get current homeowners a new, more affordable mortgage. The HARP refinance process requires a loan application and underwriting process, and refinance fees will apply.


  • Your mortgage must currently be owned or guaranteed by Freddie Mac or Fannie Mae
  • Your mortgage must have been sold to either Fannie Mae or Freddie Mac on or before May 31, 2009
  • Your current loan-to-value (LTV) ratio must be greater than 80%
  • Additionally, you must be current on the mortgage at the time of refinance with a good mortgage payment history for the past 12 months.

Steps in Refinance

  1. First, determine if your mortgage is owned by Fannie Mae or Freddie Mac,
  2. Second, contact First AMP which is approved by Fannie and Freddie to discuss your options
  3. Third, compare your options on rates and costs to ensure the best terms for your financial needs

Just click on Apply Now to start the application process and enjoy the mortgage relief that previous AMP customers have experienced!