HARP Loans

HARP Loans – Helping New Jersey Homeowners Refinance with Ease

The Home Affordable Refinance Program (HARP) is a government-backed refinance program designed to help homeowners who owe more on their mortgage than their home’s current value—also known as being “underwater”—to refinance their existing loans. If you purchased or refinanced your home before 2009 and are struggling with high mortgage payments or unfavorable loan terms, HARP can provide a valuable opportunity to lower your interest rate and monthly payments, even if you have little or no equity in your home.

Who Qualifies for a HARP Loan?

To be eligible for a HARP refinance, you typically must:

  • Have a mortgage owned or guaranteed by Fannie Mae or Freddie Mac

  • Have purchased or refinanced your home prior to May 31, 2009

  • Be current on your mortgage payments, with no late payments in the last six months and no more than one late payment in the last 12 months

  • Have a loan-to-value (LTV) ratio greater than 80% — meaning you owe more than your home is worth

HARP loans are designed to assist responsible homeowners who may be stuck in high-interest loans due to changing market conditions.

Benefits of Refinancing with HARP

  • Lower Interest Rates: Take advantage of today’s competitive rates to reduce your monthly mortgage payments.

  • No Appraisal Required: In many cases, you won’t need a new home appraisal, saving time and money.

  • Avoid Private Mortgage Insurance (PMI): Some borrowers may be able to eliminate or reduce PMI costs.

  • Access to Better Loan Terms: Convert from an adjustable-rate mortgage to a fixed-rate loan for long-term stability.

  • Improve Cash Flow: Lower payments free up money for other important expenses or savings.

How Tony Fahim Mortgage Can Help

Navigating the HARP refinancing process can feel complex, but with the expert guidance of Tony Fahim Mortgage, it doesn’t have to be. Our experienced team specializes in helping New Jersey homeowners understand their eligibility and benefits, gather the necessary documents, and smoothly complete the refinance application.

We’ll work with you to:

  • Assess your current mortgage and financial situation

  • Determine your eligibility for HARP refinancing

  • Explain all terms, costs, and benefits in clear, straightforward language

  • Guide you through the application and approval process efficiently

  • Ensure you get the best possible refinance outcome tailored to your goals

Why Choose Tony Fahim Mortgage for Your HARP Loan?

  • Local Expertise: We understand the New Jersey housing market and tailor solutions for our community.

  • Personalized Service: Every borrower’s situation is unique, and we take time to customize the right plan for you.

  • Transparent Process: We keep you informed and confident with clear communication from start to finish.

  • Trusted Partner: Backed by the strength of Nexa Mortgage, we have access to a wide network of lenders and resources.

Ready to Refinance with HARP?

If you’re a New Jersey homeowner struggling with high mortgage payments or underwater loan balances, a HARP refinance could be your path to financial relief and homeownership stability. Contact Tony Fahim Mortgage today to schedule your free consultation and see if you qualify for this valuable program.

Tony Fahim Mortgage
📍 1599 Hamburg Turnpike, Wayne, NJ 07470
📞 (201) 779-3912
📧 tfahim@nexamortgage.com