Credit Union West perosnal loans

Home Affordable Refinance Program

If you are current on your mortgage and do not qualify for traditional refinance because the value of your home has declined, you may be eligible to refinance through the Home Affordable Refinance Program (HARP). HARP is designed to help you refinance into a new affordable mortgage. HARP is unique in that it is the only refinance program that enables borrowers who owe more than their home is worth, to take advantage of low interest rates if their home is already financed by Fannie Mae or Freddie Mac.

What exactly is HARP 2.0?

The Federal Housing Finance Agency, along with Fannie Mae and Freddie Mac, recently announced a series of changes to the Home Affordable Refinance Program (HARP).  These refinance options are designed to assist borrowers who have demonstrated an acceptable payment history on their existing Fannie Mae or Freddie Mac mortgage loan, but may not have been able to refinance due to the value of their home, to get a lower more affordable. If your mortgage is owned or guaranteed by either Freddie Mac or Fannie Mae, you may be eligible to refinance your mortgage under the enhanced and expanded provisions of HARP.

How do I know if I’m eligible for HARP?

In general, borrowers must meet the following critical requirements to be considered:

  • The mortgage must be owned or guaranteed by Freddie Mac or Fannie Mae.
  • The mortgage must have been sold to Fannie Mae or Freddie Mac on or before May 31, 2009.
  • Other requirements apply. Contact us for more details.  

In addition to HARP 2.0, homeowners may qualify for assistance from the State of Arizona

The Arizona Home Foreclosure Prevention Funding Corporation (AHFPFC), Save Our Home AZ (SOHAZ) Program was created to assist responsible homeowners avoid foreclosure on their primary Arizona residence. Click here for more information.

How do I know if my loan is owned by Freddie Mac or Fannie Mae?

You can determine whether your mortgage is owned by either Freddie Mac or Fannie Mae by checking the following websites:

www.freddiemac.com/mymortgage or http://www.fanniemae.com/loanlookup/

Enter your address exactly how it appears on your mortgage statement.

How long will the HARP program be available to consumers?

The program has been extended until December 31, 2018.


Credit Union West will be refinancing loans that are currently owned by Fannie Mae (FNMA).  We will be refinancing loans currently serviced by Credit Union West, as well as those serviced by other financial institutions.

Complete the form below if you would like one of our Real Estate professionals to contact you.

Credit restrictions apply. Approval and Annual Percentage Rate (APR) is based on credit qualifications and performance. Application fee and closing costs apply. Program subject to change without notice. We do business in accordance with the Federal Fair Housing Act.
Is Your Loan Owned by Fannie Mae?*