Updated December 1, 2016

If you're a homeowner and owe more than your home is worth, this product gives you the opportunity to refinance into a lower rate and shorter terms so you can pay down your balance faster and possibly lower your monthly payment. It's now easier to qualify because the maximum loan-to-value (LTV) limit for fixed-rate mortgages has been removed. Plus, certain fees for borrowers who refinance into shorter-term mortgages have been eliminated, and fees for other borrowers have been lowered. This product is separate from the Federal Housing Finance Agency’s HARP program.

You may be eligible for refinancing under Navy Federal’s Home Affordable Refinance Product if:

  1. you have not previously refinanced your first mortgage loan under HAR.
  2. your first mortgage loan on the home is with Navy Federal.
  3. you owe more than the value of your home.
  4. your first mortgage loan is current with no late payments in the last six months, and no more than one late payment (30 days) in the last 12 months. Borrowers who are currently delinquent on their mortgage will not qualify for a refinance. However, they may be eligible for a Home Affordable Modification.
  5. your loan was originated prior to May 31, 2009.

If approved, you can finance up to $5,000 of your closing costs.

The refinance rate will be based on the market rates in effect at the time of the refinance along with any associated points and fees. Our interest rates vary over time as market rates adjust. Refinanced loans will have no prepayment penalties. You cannot get cash out to pay other debts.

The value of your property will be determined by an appraisal after you apply to refinance. You will be required to pay for the appraisal.

The Home Affordable Refinance Product is available through September 30, 2017.
To find out if you are eligible for this product and to start the process, please call 1-888-842-6328 to speak with a mortgage specialist.

Check out other mortgage assistance programs.


Savings as high as 1.35% APY

Auto Loans as low as+ 2.99% APR

Certificates as high as 3.50% APY

Credit Cards as low as++ 8.24% APR

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