The FHA 203(h) loan is specifically designed to help people who have endured life-changing events that occur in a Presidentially Declared Major Disaster Area (PDMDA). This government-backed loan is a great first step to help when it is time to rebuild, repair and recover.
A generous solution for homeowners whose home was damaged, or destroyed, and are seeking flexible options to finance minor or major repairs; must be within one year of the disaster unless extended by the federal government.
Primary residence, single family and 2-4 unit properties, condos and townhomes, Planned Unit Developments (PUDs), and manufactured double-wide homes; maximum loan amounts vary by county (FHA Mortgage Limits by County).
Recovering from a state of disaster is something we all hope to never encounter but when it happens, Gateway stands ready with the FHA 203(h) and other programs that can help you and your family make your house feel like home again. If you have been affected by a federally-declared disaster, please visit www.DisasterAssistance.gov, www.FEMA.gov, and the American Red Cross for more available resources.
Ready to get expert advice and determine what works best for your personal situation? Contact one of our local, caring mortgage professionals at a Branch Near You.