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Reverse Mortgage Benefit Eligibility Questionnaire 


Question (1 of 17)
  • The following questionnaire will help you to determine your eligibility for the Reverse Mortgage Benefit. This is not an application to the program.

    You can fill out the online application by clicking “Apply” at the end of the questionnaire. For any questions about the program’s eligibility criteria, you can contact OHSI customer service at 503-986-2025 or

    Is your reverse mortgage a Home Equity Conversion Mortgage (HECM)?

    The Reverse Mortgage benefit is only available to homeowners that have a Home Equity Conversion Mortgage (HECM). The program is not available to renters.

  • Is your home owner-occupied and your primary residence?

    To be eligible for the Property Tax Benefit, homeowners must currently live in their homes. It is acceptable to have renters within the home, but the homeowners must currently reside in the home.

  • Is your home a one-unit, single family residence?

    To be eligible for the Reverse Mortgage Benefit, properties must be one-unit, single-family residences. Condominiums and townhouses, and multi-family residences 2-4 units are eligible, so long as one of the units is owner-occupied. Manufactured homes are eligible if they are de-titled, permanently affixed to the real property that is secured by the first lien.

  • Do you own any other residential real property?

    To be eligible for the Reverse Mortgage Benefit, homeowners may not own any other residential real property. This includes vacation homes or rentals. Timeshares and vacant land are not considered to be other residential real property.

  • What is the approximate value of your home?

    The LPA Program requires property valuation not to exceed $625,000.


  • Are you currently in active bankruptcy?

    Homeowners who have previously received a court order of “Dismissal” or “Discharge” are eligible to participate.

  • 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 LPA program comes from the Troubled Asset Relief Program (TARP), and is subject to the Dodd-Frank Act >>, which prohibits applicants with certain types of felonies from receiving assistance

  • (a) How many people live in your home? Select number of persons in household

    To be eligible for the Property Tax Benefit your income for the current year cannot exceed 140% of state median income based on the number of people living in your home.

  • Have you received monthly mortgage payment assistance from OHSI?

  • Have you received a one-time payment under the Loan Preservation Assistance program?

    If you received a benefit previously under the under LPA program, your maximum eligible benefit is reduced by the previous benefit received. $40,000 – previous benefit = total benefit available.

  • Have you experienced a hardship that has resulted in the inability to pay your current property charges, property taxes, insurance or homeowner association fees?

    The program is specifically designed to support homeowners that have recovered from a financial hardship.

  • Is your property charge (taxes, insurance and association fees if applicable)-to-gross monthly income ratio less than or equal to 45%?

    Property charge ratio is the ratio of the total monthly property charges (taxes, insurance, and association fees) to the total monthly gross (before tax) income. For example: An applicant has a total monthly property charge of $600 (annual total of taxes, insurance and HOA of $7,200, divided by 12 months) and has a total monthly gross income equal to $2,000 making the housing expense ratio 30%. That is $600 divided by $2,000 x 100% = 30%.

  • - Based on your responses, you may be eligible for the Reverse Mortgage Benefit. Your actual income and other factors will be evaluated once your complete application, including supporting documentation has been submitted. Applicant will need to demonstrate their ability to sustain their monthly payments moving forward. A sustainable payment is defined as a property charges (taxes, insurance and association fees)-to-gross monthly income ratio not to exceed 45 percent
    To begin an application, click on the “Apply” button below.


    - Based on the answers you provided to this assessment, you may not be eligible for the Loan Preservation Assistance program. You may still apply for the program, or contact OHSI customer service at 503-986-2025 with questions about the program’s eligibility criteria.

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