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With Rocket Mortgage® by Quicken Loans, our faster, simpler and totally online way to get a mortgage, you can find out which loan option is right for you.

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What was HARP?

The Home Affordable Refinance Program (HARP) was a government program that officially ended on December 31, 2018.

HARP was created to help homeowners refinance a mortgage with a balance that was higher than their home’s market value, often called an underwater mortgage. HARP helped millions get into a more affordable home loan after the housing market crashed in the late 2000s.

Two government-sponsored enterprises, Fannie Mae and Freddie Mac, will be rolling out new programs to offer similar benefits for homeowners.

Call (888) 980-6716 to get in touch with a Home Loan Expert to see what you qualify for.

What else you can do if you’re underwater

If you owe more than the market value on your home, there are more options to consider.

  • Talk to your lender about restructuring your loan. That just means you and your lender agree to lower or delay your payments on your existing mortgage. Be sure to ask what fees apply.
  • Consider a short sale. This would allow you to sell your home at its current market value and have your loan balance forgiven by your lender. The positives are that you’ll avoid a foreclosure and potential big hit on your credit score. Keep in mind that you won’t earn a profit off the sale of your home and it’s up to your lender to decide if you’re eligible.
  • Try to increase your monthly payments to pay down your principal. This will help to reduce your loan balance so that it’s lower than the value of your home. There are no fees involved in this option.

Client will receive a closing credit of $1,000 on their Closing Disclosure if they receive a Verified Approval Letter and lock their rate within 90 days or lock their rate during the promotional period on a new purchase loan with a 30-year product. Offer valid between 12:01 a.m. ET on November 29, 2021, and 11:59 p.m. ET on December 1st, 2021. Offer valid on team member referral loans. This offer cannot be retroactively applied to previously closed loans or previously locked loans. Offer does not apply to new loans submitted to Rocket Mortgage through a mortgage broker, non-agency jumbo loans, Charles Schwab loans, portfolio loans or Rocket Pro Realtor loans. Rocket Mortgage reserves the right to cancel this offer at any time. Acceptance of this offer constitutes acceptance of these terms and conditions, which are subject to change at the sole discretion of Rocket Mortgage. Offer may not be redeemed for cash or credit, and no change will be given if the discount amount exceeds costs otherwise due. Offer is nontransferable. This is not a commitment to lend. Additional restrictions/conditions may apply. Offer not valid with any additional discounts or promotions, except for HLBP and Rocket Pro Originate and Relocation offers.

Client will receive 0.5 points off current pricing on a refinance with a 30-year product (includes conventional, FHA and VA products; excludes non-agency products). A point is equal to 1% of the loan amount. This offer is only available to clients who lock their interest rate while completing the application process between November 29, 2021, at 12:01 a.m. ET and December 1st, 2021, at 11:59 p.m. ET. This offer cannot be retroactively applied to previously closed loans or previously locked loans. Offer does not apply to new loans submitted through a mortgage broker, non-agency jumbo loans, Charles Schwab loans, portfolio loans or Rocket Pro Realtor loans. Offer valid on team member referral loans. Rocket Mortgage reserves the right to cancel this offer at any time. Acceptance of this offer constitutes acceptance of these terms and conditions, which are subject to change at the sole discretion of Rocket Mortgage. Offer is nontransferable. This is not a commitment to lend. Additional restrictions/conditions may apply. Offer not valid with any additional discounts or promotions, except for HLBP and Rocket Pro Originate offers.

§Closing cost savings based on Rocket Mortgage average refinance loan size of $243,467 and closing costs of $6,071. 20% savings for this example is based on 0.5% credit on refinance costs in relation to average refinance closing costs. Closing costs include all applicable fees and points. Costs exclude standard prepaid charges, prorations and escrow. Savings may vary. Data compiled as of November 18, 2021.

||Participation in the Verified Approval program is based on an underwriter’s comprehensive analysis of your credit, income, employment status, debt, property, insurance and appraisal as well as a satisfactory title report/search. If new information materially changes the underwriting decision resulting in a denial of your credit request, if the loan fails to close for a reason outside of Rocket Mortgage’s control, or if you no longer want to proceed with the loan, your participation in the program will be discontinued. If your eligibility in the program does not change and your mortgage loan does not close, you will receive $1,000. This offer does not apply to new purchase loans submitted to Rocket Mortgage through a mortgage broker. This offer is not valid for self-employed clients. Rocket Mortgage reserves the right to cancel this offer at any time. Acceptance of this offer constitutes the acceptance of these terms and conditions, which are subject to change at the sole discretion of Rocket Mortgage. Additional conditions or exclusions may apply.