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Making Home Affordable Refinance Program

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National program to help refinance mortgage loans to keep homeowners in their homes.

Call 1-888-643-3888, option 81

National program to help refinance mortgage loans to keep homeowners in their homes.


President Barack Obama announced a broad national strategy aimed to address the current economic conditions and get our economy back on track. A key component in this strategy is Making Home Affordable, a plan to stabilize the housing market by helping homeowners to refinance or modify their mortgage loans to reduce mortgage payments and keep homeowners in their homes.


Enables eligible homeowners to take advantage of today's low interest rates

The Home Affordable Refinance Program provides refinance opportunities to borrowers with mortgages held by Fannie Mae or Freddie Mac. This initiative is for borrowers who have demonstrated an acceptable payment history on their mortgage in the past 12 months, but due to a decline in home values are unable to refinance into a lower payment or a more stable product. If you are current on your mortgage payments, your home value has decreased, and you have limited equity or your first mortgage exceeds the current market value of the home, (i.e. your loan to value is greater than 80% of your home's value) you may qualify for a refinance through the Home Affordable Refinance program.  This program is for loans sold to Fannie Mae or Freddie Mac on or before May 31, 2009, and will expire on December 31, 2015.


Bank of Hawaii's Participation

Bank of Hawaii fully supports efforts to help homeowners lower monthly mortgage payments and/or avoid foreclosure and remain in their homes. We offer the Fannie Mae Home Affordable Refinance initiative as a refinance option for any existing eligible Fannie Mae loan. We also offer the Freddie Mac Relief Refinance Mortgage for any Freddie Mac loan currently serviced by Bank of Hawaii. We are also participating in the Home Affordable Modification Program for all mortgages held by either Fannie Mae and Freddie Mac and serviced by Bank of Hawaii.

Although we currently do not offer the Home Affordable Modification Program for Bank of Hawaii mortgage loans that are not with Fannie Mae or Freddie Mac, we do offer other modification programs as well as a variety of other foreclosure prevention options in order to assist borrowers.

For self-assessment tools to see if you are among the seven to nine million homeowners who may benefit from Making Home Affordable, click here.


Contact Bank of Hawaii

To determine eligibility and to discuss options under the Making Home Affordable Programs, please call our Mortgage Loan Servicing Department at 1-888-643-3888, option 81. We ask for your patience, as we expect unusually high call volumes as we work to help as many customers as possible through Making Home Affordable. Our goal is to focus first on those customers with the greatest level of need.


Certain requirements and restrictions apply. Subject to loan approval.

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Bank of Hawaii Trusted Lender Badge
*#1 Residential Lender ranking is for total number of residential loans and total dollars made by a lender in the State of Hawaii in 2014. Information compiled by Title Guaranty derived from Hawaii Bureau of Conveyances tax data recorded information for 2014. Information is deemed reliable but not guaranteed.
Certain requirements and restrictions apply. Subject to loan approval.
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