If you are a homeowner and wish to refinance you will first need to contact an experienced lender familiar with the City of Alameda’s BMR program and direct them to email us. Rise Housing Solutions will provide the lender a letter stating the BMR restricted value of your home and any other documentation requested. Sample subordination and program documents are available for lenders upon request to help determine if the 1st loan can work in conjunction with the City of Alameda’s BMR program. Please note that the City of Alameda will only subordinate to a new 1st loan if you are receiving no cash out. The new loan amount may be up to 3% higher than the payoff amount of the existing loan to cover non-recurring closing costs.

Lenders will be required to submit the following documentation to Rise Housing Solutions as part of the refinance eligibility screening:

• 1003 completed loan application

• 1008 or other loan underwriting form indicating amounts and terms of all financing

• A preliminary title report

• Loan Estimate and Closing Disclosure

Refinance package submittals can be emailed or mailed to:

Rise Housing Solutions – Alameda Refinance
1990 N California Blvd
Suite 20 PMB 1074
Walnut Creek, CA 94596

There is a $300 subordination fee payable to the City of Alameda.