Sara Routhier, Managing Editor and Outreach Director, has professional experience as an educator, SEO specialist, and content marketer. She has over five years of experience in the insurance industry. As a researcher, data nerd, writer, and editor she strives to curate educational, enlightening articles that provide you with the must-know facts and best-kept secrets within the overwhelming world o...

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Joel Ohman is the CEO of a private equity-backed digital media company. He is a CERTIFIED FINANCIAL PLANNER™, author, angel investor, and serial entrepreneur who loves creating new things, whether books or businesses. He has also previously served as the founder and resident CFP® of a national insurance agency, Real Time Health Quotes. He also has an MBA from the University of South Florida. ...

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Reviewed by Joel Ohman
Founder, CFP®

UPDATED: Dec 18, 2013

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President Obama Announced a New Refinance Program in 2011

The Home Affordable Refinance Program (HARP)

In 2013, President Obama announced HARP, which has since been commonly referred to as “Obama’s refinance program” or “Obama’s mortgage plant.”

HARP was designed to help homeowners refinance their mortgages who otherwise would not qualify.

There are a few specific qualifications for HARP. If you fill out the form above, we will find you some lenders offering refinances in your local area, and show you a comparison of what rates they are offering you. Then you can select one from the list and speak to that lender about qualifying for HARP.

What is a Refinance?

Those who already have a home loan and who are looking for a lower interest rate should apply for a mortgage refinance loan. Refinancing works by allowing a borrower to take out a brand new home loan to cover the cost of their existing home loan.

To begin the process, fill out the free application above. After submitting your application, we will immediately try to match you up with one of our partnered lenders. If we find you’re not a candidate for a refinance, but that you are struggling with your home payments, we will give you the option of continuing an application for a home loan modification.

Reasons for Refinancing

The main reasons for refinancing a mortgage include:

  • Reducing your interest rate
  • Lowering your monthly payment
  • Converting and adjustable-rate mortgage to a fixed-rate mortgage
  • Extracting equity from your property
  • To pay off your mortgage more quickly

There are different refinancing strategies or approaches to take depending on your goal. After applying for a refinance using the form above, please speak with the lender(s) who contact you about your personal situation, and they will help guide you to the correct type of refinance loan.