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FHA DISASTER RELIEF LOAN

 

FHA DISASTER RELIEF LOAN:

For disaster victims whose primary residence within a Presidentially-Declared Major Disaster Area (PDMDA) was destroyed or damaged to such an extent that reconstruction or replacement is necessary. The FHA 203h disaster loan allows these victims to more easily purchase a Single Family Property as their principle residence.

 

Eligibility:

  • FICO’s as low as 580
  • Your previous residence (owned or rented) must have been located in a federally declared disaster area and be destroyed or damaged to such an extent that reconstruction or replacement is necessary.
  • The purchased property must be a single family property or a unit in a FHA-Approved condominium
  • These loans are for principle residences only-there’s is an occupancy requirement for the FHA 203(h)
  • Generally, borrowers have up to one year from the date the disaster was declared

 

Benefits:

  • Purchased a home for primary residence to replace your flood damaged home
  • 100% financing available
  • No down payment required
  • Max LTV 100% of the adjusted value
  • Options available for no out-of-pocket expense
  • 15 and 30 year fixed terms available

How do I get started?

Just call Kelly Ritz at 281-578-3566.

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2017-09-07T09:22:58+00:00 By |Categories: Uncategorized|0 Comments

About the Author:

Looking for a Katy expert? Kelly’s real estate career began in 1989. As a former PRESIDENT OF THE KATY REALTOR ASSOCIATION, Kelly has a long-standing reputation for obtaining record prices for her clients. Selling your home for top dollar requires maximum marketing exposure. Contact Kelly today to find out the benefits of working with a seasoned Realtor with a proven marketing plan–ensure your property stands out against the competition!

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