HARP Hotline 866-661-0581

HARP Program Lenders

Help With Your Fannie Mae Loan Look Up

Fannie Mae Refinance Plan

The first step for finding out whether or not you have a home mortgage that can be refinanced through HARP will be to make sure you're eligible. Even those who currently owe more than their home is worth could be able to get a refinance through HARP.

The first step for making sure you're eligible will be to make sure that Freddie Mac or Fannie Mae holds your loan. These are the only two lenders who the HARP program can be used with.

To find out, just enter the basic information asked for in the fields provided. You'll get a fast answer as to whether or not your home is held by these companies and be able to start working towards your refinance today.

Fannie Mae Contact Info:
1-800-7FANNIE (8am to 8pm EST)
www.fanniemae.com/loanlookup

Homeowner HARP Hotline:

866-661-0581


HARP Loan Program

Call us at 866-661-0581 or check your HARP Eligibility below.

  • Click Here to learn more about Fannie Mae and the loan look up tool

    About Fannie Mae:

    Fannie Mae (http://www.fanniemae.com) is a government-sponsored enterprise (GSE) chartered by Congress with a mission to provide liquidity, stability and affordability to the U.S. housing and mortgage markets.

    Fannie Mae was established as a federal agency in 1938, and was chartered by Congress in 1968 as a private shareholder-owned company. On September 6, 2008, Director James Lockhart of the Federal Housing Finance Agency (FHFA) appointed FHFA as conservator of Fannie Mae. In September 2008, we also entered into an agreement with the U.S. Department of Treasury that was most recently amended in December 2009. Under the agreement, Treasury will provide us with capital as needed to correct any net worth deficiencies that we record in any quarter through 2012. The agreement is intended to ensure that we are able to continue providing liquidity and stability to the housing and mortgage markets.

    Fannie Mae operates in the U.S. secondary mortgage market. Rather than making home loans directly to consumers, we work with mortgage bankers, brokers and other primary mortgage market partners to help ensure they have funds to lend to home buyers at affordable rates. We fund our mortgage investments primarily by issuing debt securities in the domestic and international capital markets.

    Fannie Mae has three lines of business are Single-Family, Multifamily and Capital Markets that provide services and products to mortgage companies and a broad range of housing partners. Together, these businesses contribute to the company's chartered mission to increase the amount of funds available in order to make homeownership and rental housing more available and affordable.

    About The Fannie Mae Loan Look Up Tool:

    HARP is a government sponsored initiative updated in October of 2011 by President Obama in response to the needs of homeowners suffering during the mortgage crisis.

    The Fannie Mae Loan Lookup enables mortgage borrowers to quickly determine if Fannie Mae owns their loan by providing a street address, unit, city, state, and ZIP code.

    If you are unable to determine if Fannie Mae owns your loan, your lender has access to tools that will let them verify whether Fannie Mae is the investor on a property at a specific address. However, this tool does not list if a loan is eligible for HARP. This process will be part of the HARP Application that your lender will perform.

    If Fannie Mae owns your loan, you may be eligible for programs designed to make your mortgage more affordable -like the Home Affordable Refinance Program (HARP) or the Home Affordable Modification Program (HAMP).

    If Fannie Mae does not list your loan in their system, click over the Freddie Mac Loan Look up page to check there as well.

    HARP Fannie Mae Guidelines:

    Fannie Mae's goal with HARP is to help underwater or near upside down borrowers move to a more stable loan product, which is defined as:

    1. A mortgage loan with an interest-only feature to a fully amortizing mortgage product (provides amortization of principal and accumulation of equity in the property);
    2. An adjustable-rate mortgage (ARM) to a fixed-rate mortgage (FRM) (elimination of the potential for payment shock);
    3. An ARM to a new ARM with an initial fixed period of five years or more, and equal to or greater than that of the existing mortgage (elimination of pending payment shock and movement to the same or longer initial fixed-interest rate period); or
    4. A 30-year FRM to a 15-, 20-, or 25-year FRM (accelerated amortization of principal and building of equity).

    A common question borrowers have about the Loan-to-Value requirements is if there is a cap on the total combined Loan-to-Value (CLTV) available. Basically, if adding a second mortgage lien or Home Equity Line of Credit (HELOC) to the equation will cause a challenge for a HARP approval.

    The answer is No, there is not a limit to CLTV or HCLTV for existing subordinate financing. However, the second lien cannot be combined with the first mortgage for one new singel HARP Loan. In a scenario where there is an existing second lien, your lender will need to order what's called a subordination agreement while the first mortgage is refinanced, and then your second mortgage would remain in second position. The good news is that second lien holders are motivated to comply with the subordination process since it benefits them by having a borrower with a lower payment or more stable product.

    Other Benefits of a HARP Fannie Mae Refinance:

    1. Make your payment more affordable by lowering your interest rate or adjusting the other terms of your loan
    2. May help you build equity faster and save you money (i.e., shorter loan term and lower total interest paid)
    3. Make loan more stable (i.e., fixed interest rate vs. adjustable interest rate)
    4. Stay in your home and avoid foreclosure

    Another benefit with the Fannie Mae HARP 2.0 Guidelines is that closing costs, such as application and title / escrow fees can be rolled into the new loan amount.

    Fannie Mae Resources:

    1. Fannie Mae - Commentary - More Refinance Help For Underwater Homeowners
    2. Fannie Mae - CEO - Remarks At MBA Annual Conference
    3. Commentary - Refinancing Helps Households Restore Their Financial Health
    4. Fannie Mae - Original Announcement About HARP
    5. Fannie Mae - Updates With HARP
    6. Fannie Mae - FAQ About HARP
    7. KnowYourOptions.com - HARP Overview