FHA 203(h) Disaster Relief Program
The Federal Housing Administration insures mortgages made by lenders to victims of a major disaster that have either lost their homes or had their homes damaged. The funds are available to those that want to rebuild their homes or simply buy another home.
Some of the benefits of the program.
No down payment is required. Homeowners and renters in presidentially declared disaster areas are eligible. Some credit concessions are available if a strong credit history existed before the disaster occurred.
The 203(h) program allows for people to rebuild their lives and also allows for the government to invest in areas and properties that are in need of rebuilding so it works well for all concerned. Contact us, we have people who can help answer all of your questions about a 203(h) loan.