If you are a homeowner who is current on your mortgage payments but unable to refinance to a lower interest rate because your home value has decreased, you may be able to refinance.
Am I eligible for a Home Affordable Refinance? Answer these questions:
1.
Are you the owner of a one- to four-unit home?
2.
Do you have a loan owned or guaranteed by Fannie Mae or Freddie Mac? If you don’t know, click here.
3.
Are you current on your mortgage payments? “Current” means that you haven’t been more than 30-days late on your mortgage payment in the last 12 months.
4.
Do you believe that the amount you owe on your first mortgage is about the same or less than the current value of your house? You may be eligible if your first mortgage does not exceed 105% of the current market value of your home. For example, if your property is worth $200,000 but you owe $210,000 or less on your first mortgage, you may be eligible. The current value of your property will be determined after you apply to refinance. If unsure, click "Yes" for Question #4 and go to Refinance next steps.
By clicking on “SUBMIT” below, your answers will be analyzed and you will be directed to Next Steps for the Home Affordable Refinance or to the Home Affordable Modification eligibility page for additional help.
This site can help you determine if you are eligible, but only the servicer of your loan can tell you if you qualify. Please contact your servicer for more information.
