HARP 2.0 (Eligible Refinance) Principal Reduction Assistance Component


In conjunction with a HARP 2.0 (E.R.) refinance, homeowners may qualify to have their principal reduced to 100% Loan to Value by Save Our Home AZ.

It is a simple process. Meet the qualifications and complete the application process of the Save Our Home AZ program, get pre-approved by a lender for the HARP 2.0 (E.R.) refinance and complete the credit counseling. 


Application Process:

  • Max Program Contribution is $100,000.
  • Household may not have Gross Income of more than 150% of Area Median Income (AMI) (i.e., for a family of four in Maricopa County, the income limit is $92,813 or less).
  • Eligible properties may not have an outstanding mortgage(s) in excess of 150% of purchase price.
  • Property must be the homeowner’s primary residence.
  • Current Loan to Value (LTV) or Combined Loan to Value (CLTV) must be more than 120% or $20,000 negative equity.
  • Principal reduction target of 100% LTV after HARP 2.0 (E.R.) refinance.
  • Assistance will be provided without a lien.
  • Unsecured promissory note signed concurrently with HARP 2.0 (E.R.) refinance.
  • May be combined with Second Mortgage Settlement Assistance up to $60,000.

The Save Our Home AZ program was created to assist responsibile homeowners avoid foreclosure on their primary Arizona residence. Read detailed information on the HARP 2.0 Principal Reduction Contribution program here or call to talk to an approved counselor at one of the agencies listed.

NOTE: In addition to other eligibility criteria, all assisted homeowners must be a borrower (i.e., a person obligated to repay the loan) on the loan secured by the mortgage to be assisted.