HARP Refinance Program

PennyMac customers:

  • PennyMac does not charge fees for a modification or other loss mitigation plans when you are facing a delinquency.
    • PennyMac will work with you to ensure every option possible is explored to retain homeownership. No fees. No strings.
  • PennyMac does not accept payments from Money Gram.
  • Funds are always payable to PennyMac and not to an individual.
  • PennyMac does not accept gift cards as payment and will not call you and ask for a gift card number.
    • Anyone who demands payment via gift card is always a scammer. Gift cards work like cash, once you’ve provided the number you will not be able to get your money back.
    • Don’t be fooled! To learn more about Gift Card Scams, read the Federal Trade Commission’s article.

PennyMac will work with you to ensure every option possible is explored to retain home ownership. No fees. No strings.

HARP Refinance Program

The federal government's Home Affordable Refinance Program (HARP) was rolled out in 2009 to assist homeowners who currently owe more than their homes are worth. Recently, the program criteria has been expanded to include even more eligible homeowners.

According to the Federal Housing Finance Agency, over 3.2 million homeowners have refinanced under the government's Home Affordable Refinance Program (HARP). You may be eligible to refinance, even if you're "underwater" or have tried unsuccessfully to refinance before with your current lender.

PennyMac is approved to offer HARP refinance loans to qualified borrowers. Under the government HARP program, PennyMac can loan up to 200% of the value of your home. In most cases, we don’t require an appraisal of your home. Give us the opportunity to close your loan in 30 days.


  • Reduce your monthly mortgage payments.*
  • Reduce the interest rate on your home loan.
  • Move from an adjustable to a fixed rate loan.


  • The mortgage must be owned or guaranteed by Freddie Mac or Fannie Mae.
  • The note date on the mortgage must be on or before May 31, 2009.
  • The mortgage cannot have been refinanced under HARP previously unless it is a Fannie Mae loan that was refinanced under HARP from March-May, 2009.
  • The borrower must be current on the mortgage at the time of the refinance, with a good payment history in the past 12 months.

Check if Freddie or Fannie Owns Your Loan

Call PennyMac today. The HARP refinance program has been extended to December 31, 2018.

Making Home Affordable is a trademark of the United States Department of the Treasury.

* By refinancing your existing loan, your total finance charges may be higher over the life of the loan.