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Statement on Refinance Option for High Loan-to-Value Borrowers and Extension of HARP

August 17, 2017

Pete Bakel


Fannie Mae is pleased to work with the Federal Housing Finance Agency (FHFA) and Freddie Mac to make options available for borrowers to refinance into lower rate mortgages. The high loan-to-value (LTV) refinance option will provide refinance opportunities to borrowers with existing Fannie Mae mortgages who are making their mortgage payments on time, but whose LTV ratio for a new mortgage exceeds the maximum allowed for standard refinance products or is above 95% LTV. At the direction of FHFA, Fannie Mae will continue to offer the Home Affordable Refinance Program (HARP) through December 31, 2018 to ensure that eligible borrowers can take advantage of the existing HARP program. We will continue to work with any eligible borrowers who may be able to benefit from these offerings and refinance into more affordable mortgages.

Fannie Mae helps make the 30-year fixed-rate mortgage and affordable rental housing possible for millions of Americans. We partner with lenders to create housing opportunities for families across the country. We are driving positive changes in housing finance to make the home buying process easier, while reducing costs and risk. To learn more, visit and follow us on