Introducing the FHA 203(h) Loan

If you’ve lost your home in a disaster and need financial assistance to rebuild or purchase a new one, the FHA 203(h) loan could be the perfect solution. This government-backed mortgage program helps disaster victims secure stable housing quickly with favorable terms.

Key Features of the FHA 203(h) Loan

• No Down Payment Required – Unlike traditional loans, this program allows you to finance 100% of the home’s purchase price or rebuilding costs.

• Flexible Credit Requirements – Easier qualification criteria make it accessible to more borrowers.

• Can Be Used for Purchase or Reconstruction – Whether you’re buying a new home or rebuilding your previous residence, this loan can help.

• Available Only in Disaster-Declared Areas – Eligibility is limited to those affected by federally declared disasters.

• Up to One Year to Apply – You have up to 12 months from the disaster declaration date to apply for this loan.

• Mortgage Insurance Premium (MIP) – Like other FHA loans, borrowers will pay an upfront and annual mortgage insurance premium.

• Loan Terms & Interest Rates – Typically offers 15- or 30-year fixed-rate terms with competitive interest rates.

• Can Be Combined with FHA 203(k) Loan – If additional repairs or improvements are needed, borrowers may qualify for an FHA 203(k) loan in conjunction with the 203(h).

Who Qualifies for an FHA 203(h) Loan?

To be eligible, applicants must:

• Have lost their home in a presidentially declared disaster

• Plan to rebuild or purchase a primary residence (not a second home or investment property)

• Meet FHA lending criteria, including income and credit requirements

• Apply within 12 months of the disaster declaration

Interested in learning more? I can connect you with a trusted lender who specializes in FHA 203(h) loans. Contact me today at 818-633-5501 to get started!

Yervant Bekarian
Realtor – JohnHart Real Estate
Serving Los Angeles & Ventura Counties