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Understanding Relief Refinance

Freddie Mac’s Enhanced Relief RefinanceSM provides refinance opportunities for homeowners with existing Freddie Mac mortgages who are making their mortgage payments on time but whose loan-to-value (LTV) ratio for a new mortgage exceeds the maximum allowed for standard refinance products.

Eligibility requirements:

  • Freddie Mac must own your loan. See if Freddie Mac owns your loan.
  • The note date of your loan being refinanced must be on or after October 1, 2017. Our Loan Look-up Tool will let you know your note date.
  • You must be current with your payments with no 30-day delinquencies in the most recent 6 months and no more than one 30-day delinquency in the past 12 months
  • Your mortgage being refinanced must not have been previously refinanced through HARP, a federal program launched in 2009 that expired on December 31, 2018.

Enhanced Relief Refinance may help you obtain a monthly payment you can afford, and will result in one or more of the following:

  • A reduction in your mortgage rate and or your monthly mortgage payment
  • A fixed-rate mortgage in place of an adjustable-rate, interest-only, or balloon/reset mortgage
  • A reduction in the term of your mortgage (e.g., from 30 years to 15 years)

If you’re interested in refinancing through this option, reach out to your lender today to discuss your options.


Key Takeaways

  • You must meet certain eligibility requirements to refinance, including Freddie Mac owning your loan.

  • Our Enhanced Relief Refinance option will allow you to refinance into a fixed-rate mortgage, providing affordability, stability, and flexibility.

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