Help for Hurricane Harvey Renter’s Through FHA 203(h)

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Help For Hurricane Harvey Flood Victims Through FHA 203(h)

Mortgage Insurance For Disaster Victims Section 203(h) program allows the federal housing administration (FHA) to insure mortgages made by qualified lenders to victims of a major disaster who have lost their homes and are in the process of rebuilding or buying another home.

Purpose of the 203 (h) Loan Through Section 203(h) the federal government helps victims in presidentially designated disaster areas recover by making it easier for them to get mortgages and become homeowners or re-establish themselves as homeowners.

Types of Assistance Individuals are eligible for this program if their homes are located in an area that was designated by the President as a disaster area and if their homes were destroyed or damaged to such an extent that reconstruction or replacement is necessary.

Help For Hurricane Harvey Flood Victims Through FHA 203(h)

No Down Payment 100% financing Closing costs and prepaid expenses must be paid by the borrower in cash or paid through premium pricing or by the seller, subject to a 6% limitation FHA Upfront and monthly mortgage insurance is collected Hud sets the limit for each county as to the maximum loan size.

We are helping our clients by contributing to their closing costs. This contribution will depend on the credit scores, size of the loan and multiple other factors, but our branch will contribute to our borrowers closing costs with the goal being to get the borrowers in to the new home with as little money out of pocket as possible.

Eligible Customers Anyone whose home has been destroyed or severely damaged in a presidentially declared disaster area is eligible to apply for mortgage insurance under this program.

The application must be submitted within one year of the presidents declaration of disaster. For more information on FHA 203(h) call Mike Durr @ 281-348-9899, or find him at 1521 Green Oak Pl. # 197 Kingwood, TX. 77339


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