Is there a maximum loan-to-value (LTV) ratio for HARP?
There is no maximum LTV (loan-to-value) with HARP Program as defined by Fannie Mae and Freddie Mac guidelines. The minimum LTV is 80%. Theoretically, a borrower should have the ability to refinance despite any loan to value: 100-150-200% LTV, which is why the program is so valuable for underwater borrowers
However, many lenders are nevertheless imposing their own restrictions out of fear they might get stuck with the loans if Fannie or Freddie don’t buy the loans. As such, depite the “no limit” limit, some lenders have made LTV guidelines limits of their own.
Your mortgage broker will need access to lenders that participate in the program without adding lender lay-overs. You will want to discuss different lender requirements that make a borrower eligible. Get started with a HARP Loan.