Nearly a million people have refinanced under the Home Affordable Refinance Program since it was established in 2009. HARP is a federal program designed to help homeowners who generally wouldn’t qualify for a traditional refinance because their mortgage balance is higher than their home value.
Recent changes to HARP qualification guidelines, such as higher loan-to-value ratio, have made the program available to an even greater number of people. Now is the best time to refinance with HARP and BBVA Compass.
The interest on any portion of the loan greater than the fair market value of your property is not tax deductible for federal income tax purposes. You should consult your tax advisor regarding deductibility of charges and interest.
HARP through BBVA Compass is available to those with an eligible mortgage owned by Fannie Mae.
Some qualifications include:
If you meet these requirements, you may qualify for HARP refinancing. Contact us to learn more today!
Choose from these other mortgage types that might work for you.
Looking for stable monthly payments? With a Fixed-Rate Mortgage, the interest rate on your mortgage loan remains the same for its entire term.
Most adjustable-rate mortgage (ARM) loans feature an initial fixed-rate period, with interest rates adjusting once per year after the fixed-rate term expires.
If you are a medical resident, practicing physician, attorney, oral surgeon, dentist or CPA, a Professional mortgage loan can help you achieve financial flexibility.
Government Loan Programs
If you are looking to apply for a mortgage or to refinance, you may be eligible for a FHA, VA, or USDA loan.
Home Ownership Made Easier (HOME)
Through our Home Ownership Made Easier (HOME) mortgages, BBVA Compass is building stronger communities and helping people achieve the dream of home ownership.
Construction Permanent Loans
A Construction Permanent Loan makes new home financing simple. There's just one loan application and one closing.
Building your dream home starts with finding the perfect location. With so many considerations to make in preparing to build, let us take care of the lot financing.
Foreign National Mortgage
BBVA Compass welcomes the opportunity to provide mortgage services to Foreign Nationals who want to purchase, refinance, build, or renovate a home in the United States.
Home Equity Loans and Lines of Credit
Your home is often your largest asset — make your home’s equity work for you with a BBVA Compass Home Equity Loan or Line of Credit.