If you are a homeowner and wish to refinance you will first need to contact an experienced lender familiar with the City of Cupertino’s BMR program and direct them to contact us. Rise Housing Solutions will provide the lender with 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 first loan can work in conjunction with the City of Cupertino’s BMR program. All loans used to purchase or refinance BMR homes must have a fixed interest rate and a fixed loan term without balloon payments to minimize homeowner’s exposure to increased risks of mortgage default.
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 – Cupertino Refinance
1990 N California Blvd
Suite 20 PMB 1074
Walnut Creek, CA 94596