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Do Jumbo Loans qualify for HARP 2.0?

Do Jumbo Loans qualify for HARP 2.0? by tommyl_272_549 from Huntsville, Alabama. Feb 24th 2012 Reply


Matthew Howard (matthew.howard)
#30 ranked lender in Michigan - 2 contributions

NoOnly thing over $417,000 are Fannie High Balance which are county specific.http://www.fhfa.gov/webfiles/22760/FullCountyLoanLimitList2012_HERA-BASED_FINAL_Z.xlsThis is a link to view loan limits by county.

Feb 24th 2012
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James Barath (JamesBarath)
#9 ranked lender in Indiana - 352 contributions

Unfortunately, true jumbo loans do not qualify for HARP 2.0 due to the fact that by definition a jumbo loan exceeds the Fannie Mae / Freddie Mac maximum loan limit. The first qualifier for HARP 2.0 is that the loan has to be a owned by Fannie Mae / Freddie Mac.

Feb 24th 2012
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William J Acres (William_Acres)
#74 ranked lender in Arizona - 8,728 contributions

If you're in a High Balance area, then it's possible, however I know for certain that Huntsville AL is not in a High Balance Area according to Fannie Mae. Only loans owned by Freddie / Fannie would qualify... WilliamAcres.com

Feb 24th 2012
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Ralph Richard Guertin (ralph@absolutelowrates.com)
#58 ranked lender in Georgia - 807 contributions

Unfortunately no, but keep checking back, I heard they are looking to expand the program to help jumbo loans as well, no timeframe on when....

Feb 24th 2012
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