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:

  • Homeowner verifies that mortgage is owned by Fannie Mae or Freddie Mac.
  • Homeowner submits signed documents to SOHAZ by fax or mail (download and complete the  Request for Certificate of Eligibility)
  • Homeowner receives Certificate of Eligibility from SOHAZ to take to lender. See a list of participating lenders.
  • Lender pre-approves customer for HARP 2.0 or similar eligible refinance.
  • Customer completes SOHAZ online Self-Assessment & Application.
  • Counselor completes credit counseling and collects any missing documents.
  • Simultaneous close with HARP 2.0 (E.R.) refinance.


  • Max Program Contribution is $100,000.
  • Homeowner’s loan must be owned by Fannie Mae or Freddie Mac.
  • 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 responsible 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 in the SOHAZ Counseling Agencies document.


In addition to other eligibility criteria, all assisted homeowners must be a borrower on the mortgage to be assisted.