HARP Guidelines Expanded

The Home Affordable Refinance Program (HARP) was initiated by the government a couple years ago for the expressed purpose of allowing those homeowners who had mortgages that were “underwater” to refinance their properties and take advantage of the lower rates. These borrowers had to have played by the rules during the mortgage meltdown and made good on their repayment even while knowing their property had lost value. As a result, for Fannie Mae and Freddie Mac loans bought prior to May 31, 2009, borrowers were eligible to refinance their loan up to an amount of 120% of the outstanding balance. Recently, this restriction has been removed and HARP eligible borrowers have no limit on the loan to value. In most cases, the documentation is streamlined and there is no appraisal required. If you find yourself still underwater or know someone who is, give us a call and we can help determine if they are HARP eligible.


CPC Mortgage was founded in 1986 by Ed Cree and John Patterson. We are a full service mortgage broker offering competitive rates and programs on conventional conforming and jumbo loans, FHA, VA and reverse mortgages. Over the years we’ve arranged financing on over 6,000 loans totaling just under $2 billion. The backbone of our business for over 28 years has been to advise our clients as if it was our own money. We have never spent money on mass market advertising, relying instead on referrals from real estate agents and former clients. If you treat people right, they will come back and they will tell their friends. We’re proud of our track record and will continue to stress customer service to all of our clients.

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