Product Highlights
The 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.
