Home Affordable Refinance Program (HARP)

Definition

The Home Affordable Refinance Program, or HARP, was a historical refinance program for certain underwater GSE loans. It is a closed program, not a current refinance option.

In plain English

After the housing crisis, a federal refinance program helped some borrowers whose homes were worth less than the loan. That program was HARP. HARP is not open now. A current refinance, including a rate-and-term refinance or a streamline refinance, is a different decision. This page is historical context only.

Technical definition

FHFA’s official previous-programs page for the Home Affordable Refinance Program is PRIMARY. It identifies HARP as a closed historical program.

Why it matters

Older loan files and news stories still mention HARP. Readers need the program marked historical so it is not treated as a current product.

Sources reviewed