Accepting applications statewide.
Current Application Cycle:
Opened: March 3rd
Have you completed the questionnaire?
Did you get a ✓on each question?
Rebuilding American Homeownership Assistance
Developed in partnership with Oregon’s Senator Jeff Merkley, the Rebuilding American Homeownership Assistance (RAHAPP) aims to provide a new opportunity for underwater homeowners to refinance their mortgage. RAHAPP mortgages will enable homeowners to rebuild equity faster than their existing mortgage or to lower their monthly payment amount. As a pilot program, opportunities for participation are limited, we are currently accepting applications statewide. Eligibility criteria include, but are not limited to, the following:
- Homeowners must be significantly underwater
- Homeowners must be current on existing mortgage payments
- Homeowners cannot own other residential property
- Existing mortgages cannot be owned or guaranteed by Fannie Mae or Freddie Mac
RAHAPP provides two refinancing options:
- 15-year mortgage at 4% fixed interest, with a $200,000 loan amount, the APR would be 4.129%.
- 30-year mortgage at 5% fixed interest, with a $200,000 loan amount, the APR would be 5.077%.
The following questionnaire provides you the
opportunity to determine if you may be eligible for the RAHAPP Program.
This is not an application to the program. If after taking this questionnaire
you think the program is right for you, click the "Apply Now" button
at the bottom of the page to be taken to the online application.
OHSI has contracted Alpine Mortgage Planning to administer RAHAPP, and interested homeowners will be evaluated for and may be offered other refinance options. Refinance fees will apply.