Created on August 13, 2017 at 4:35 pm by dmikey

Help For Hurricane Harvey Victims

Help For Hurricane Harvey Victims FHA 203h

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

Help For Hurricane Harvey Victims FHA 203h

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.

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

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 contact Mike Durr The Kingwood Mortgage Guy @ 281-348-9899 or go to 1521 Green Oak Pl. # 197 Kingwood, TX. 77339. NMLS # 318989

Help For Hurricane Harvey Victims FHA 203h

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