HARP 2.0 refinancing is allowed on all occupancy types: primary residence (owner-occupied), second home, or investment (rental) property. However, HARP 2.0 refinancing of investment properties by Fannie Mae and Freddie Mac has higher mortgage rates than for owner-occupied properties. Appraisal waiver Another feature of HARP is that applicants can forgo a home appraisal if a reliable automated valuation model is available in the area. This can save the borrower time and money, but is subject to the discretion of the mortgage servicer. HARP 3.0 As part of the 2012 State of the Union Address, President Barack Obama referenced a plan to give "every responsible homeowner the chance to save about $3,000 a year on their mortgage". Within the mortgage industry, this plan is being referred to as HARP 3.0. The plan has not passed. HARP 3.0 is expected to expand HARP's eligibility requirements to homeowners with non-Fannie Mae and non-Freddie Mac mortgages, including homeowners with jumbo mortgages and Alt-A mortgages, those whose original mortgages were stated income, stated asset, or both. Deadline Although the HARP program was originally scheduled to end on December 31, 2016, the Federal Housing Agency announced in August 2016 that it would be extended though September 2017. The program was extended again on August 17, 2017 through December 2018. See also Loan modification in the United States United States housing market correction Home Affordable Modification Program (HAMP) References External links Making Home Affordable.gov Fannie Mae loan lookup tool, Fannie Mae website. Freddie Mac loan lookup tool, Freddie Mac website. http://www.fhfa.gov/Media/PublicAffairs/Pages/Prepared-Remarks-FHFA-Director-at-Greenlining-Institute-22nd-Annual-Economic-Summit.aspx Banking in the United States United States housing bubble Mortgage industry of the United States Mortgage legislation