Is New Heloc Allowed After Harp 2.0 Refinance?

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LoanSafe Member
Aug 31, 2014
This is a subject where I've received conflicting answers, so am asking here...a few years ago, I had a successful HARP 2.0 refinance (with positive equity, but over 80% LTV), with my HELOC lender agreeing to re-subordinate. And, I am aware of the HARP's restriction against any new secondary financing. FreddicMac is the owner of my HARP 2.0 mortgage.

My house's value has since recovered well since the HARP refinance, so I am asking: Is the restriction against any new secondary financing permanent as long as I still have the HARP 2.0 mortgage? Or am I allowed to refinance my HELOC? I'm hoping for a clear answer from someone who really knows the HARP legalities well.

Moe Bedard

Call 1-800-779-4547
Staff member
Loan Safe Mortgage
Aug 10, 2007
Southern California
Hello Desertresident,

I just sent this post to our preferred LoanSafe lender and loan officer, Erik Sandstrom with New American Funding. He is very knowledgeable about HARP and has also completed many loan under this program.

Erik Sandstrom

Mortgage Expert - Call 1-619-379-8999
Staff member
Loan Safe Mortgage
Jan 14, 2011
San Diego, California
You're more than welcome to get a HELOC after a HARP Refinance. HARP is basically just a conventional refinance only for borrowers that owe more than the home is worth. If your property gained value and you want to pull out some of the equity, go for it!

I have some good contacts for HELOC's if you want any.