The Rebuilding American Homeownership Assistance Pilot Program helps homeowners who are underwater on their mortgage to refinance their mortgage to either:
- 15-year mortgage at 4% fixed interest, APR would be 4.129%
- 30-year mortgage at 5% fixed interest, APR would be 5.077%
To be eligible for RAHAPP, a homeowner must:
For a full list of eligibility criteria, take the RAHAPP eligibility questionnaire.
- Not be in active bankruptcy
- Own no other residential property
- Live in a single-family dwelling (Including condominiums and townhouses)
- Be current on mortgage
No. If you received assistance through the MPA, MPAU, MPAT, LPA or LRAPP programs, you are not eligible for RAHAPP.
The program is for statewide applications on March 3, 2014. Check out the RAHAPP page for more information about the application process.
To access the program application process information, please complete the RAHAPP eligibility questionnaire.