Special Loan Program
Mortgage Relief
for
DISASTER-AFFECTED HOMEOWNERS
The FHA 203(h) program provides mortgages to victims of a presidentially declared major disaster for the purchase of a new home or expanded 203 (k) reconstruction for single-family properties.
The borrower’s EXISTING residence (owned or rented) must be located in a presidentially declared major disaster area and destroyed or damaged to such an extent that reconstruction or replacement is necessary. If the borrower is purchasing a new property, it does not have to be located in the same area as the disaster.
A minimum credit score of 620 is required.
You will need to provide proof that you lived in the area and the home that has sustained damages.
Application deadline: The FHA case number must be assigned within (1) one year of the date the PDMDA is declared unless an additional period of eligibility is provided.
