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 Eligibility Questionnaire 

Question (1 of 17)
  • Do you currently own your home?

    The Rebuilding American Homeownership Assistance Pilot Project is only available to you if you have a mortgage.

       
  • Is your mortgage owned by either Fannie Mae or Freddie Mac?

    Most mortgages are owned by an investor who is different than the bank or servicer that collects monthly payments. Two of the largest mortgage investors are Fannie Mae and Freddie Mac. The Rebuilding American Homeownership Assistance Pilot Project is currently unavailable to you if your loan is owned by Fannie Mae or Freddie Mac. You can find out if your mortgage is owned by Fannie Mae or Freddie Mac by using their online lookup tools.

    Fannie Mae lookup tool »

    Freddie Mac lookup tool »

       
  • (a) RAHAPP has a set maximum unpaid principal balance limit based on the Federal Housing Administration (FHA) loan limit for the county in which your home is located.

  • To be eligible for the Rebuilding American Homeownership Assistance Pilot Project, you must have negative equity in your home with a combined loan-to-value ratio between 95% and 140%. Combined loan-to-value ratio is the ratio of the total combined loans to the total real market value of your home. For example: An applicant has a total combined loan (1st mortgage + 2nd mortgage) of $225,000 and their home's current real market value is equal to $200,000 making their combined-to-loan value ratio 112.5%. That is $225,000 ÷ $200,000 X 100 = 112.5%.

  • Are you current on your mortgage loan(s)?

    To be eligible for the Rebuilding American Homeownership Assistance Pilot Project, you must be current on your mortgage loan(s).

     

    Have you had any mortgage loan payments that were 30 or more days late in the past 6 months? Or 30-59 days late in the past 12 months?

       
  • Is your home your primary residence?

    To be eligible for the Rebuilding American Homeownership Assistance Pilot Project, you must currently live in your home. It is acceptable to have renters in the home, but you must currently reside in the home as well.

       
  • Is your home a single family residence?

    To be eligible for the Rebuilding American Homeownership Assistance Pilot Project, your home must be a single family residence. Condominiums and townhomes are eligible for this program.

       
  • (a) Do you have a home equity line of credit (HELOC)?

       
  • Do you own any other residential real property?

    To be eligible for the Rebuilding American Homeownership Assistance Pilot Project, you may not own any other residential real property. This includes vacation homes or rentals. Timeshares or vacant land are not considered to be other residential real property.

       
  • Are you currently in active bankruptcy?

    To be eligible for the Rebuilding American Homeownership Assistance Pilot Project, you may not be in active bankruptcy.

       
  • Have you been convicted of: (A) felony larceny, theft, fraud or forgery, (B) money laundering or (C) tax evasion, in connection with a mortgage or real estate transaction within the last 10 years?

    Funding for OHSI and the Rebuilding American Homeownership Assistance Pilot Project comes from the Troubled Asset Relief Program (TARP), and is subject to the Dodd-Frank Act >> , which precludes applicants with certain types of felonies from receiving assistance.

       
  • Is your housing expense ratio less than or equal to 45%?

    To be eligible for the Rebuilding American Homeownership Assistance Pilot Project, your housing expense ratio must be 45% or less. Your housing expense ratio is the ratio of your total monthly mortgage payment (principal, interest, taxes, insurance and association fees (if applicable)) to your total monthly gross (before tax) income. For example: An applicant has a total monthly mortgage payment of $600 and has a total monthly gross income equal to $2,000, making their housing expense ratio 30%. That is $600 ÷ $2,000 X 100 = 30%.

       
  • Have you previously received assistance through any OHSI program?

    MPA, MPA-U, MPAT, LRAPP and LPA program participants who received previous assistance through OHSI are not eligible for the Rebuilding American Homeownership Assistance Pilot Project.

       
  • - Eligible—Based on your responses you may be a good fit for this program. Click on the “Apply” button to be redirected to a secure website operated by our partner Alpine Mortgage Planning to apply for possible help through the Rebuilding American Homeownership Assistance Pilot Project (RAHAPP). After you submit your completed application, Alpine Mortgage Planning will consider you for several refinancing options including RAHAPP.

     

    - Ineligible—based on the answers you provided to this assessment, you may not be eligible for the Rebuilding American Homeownership Assistance Pilot Project. Feel free to contact OHSI customer service at 503-986-2025 or homeowner.help@oregon.gov with questions about the program's eligibility criteria.

     

    You may qualify for other assistance from OHSI or other foreclosure prevention programs. Please visit our programs page and OregonHomeownerSupport.gov for additional resources and to locate a foreclosure prevention counselor. You should also contact your mortgage lender or servicer to discuss ways to stay in your home as market conditions are changing and there may be options not previously available.

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