Program Description

Section 203(h) Mortgage Insurance for Disaster Victims helps make it easier for survivors to get a mortgage to buy or rebuild a home.

Section 203(k) Rehabilitation Mortgage Insurance offers two options for both home buyers and homeowners:

  • Get a single mortgage to buy or refinance a home and the cost of its rehabilitation, or
  • Finance the rehabilitation of your existing home.

You may use the money for work ranging from minor to a total rebuild. This could include the following:

  • Residential section rehabilitation of a property that also has non-residential uses.
  • Conversion of any size property to a one- to four-unit structure.

For smaller repairs or rehabilitation, up to $35,000, you may be able to get a Limited 203(k). This is for work that doesn’t require you to buy or refinance the property.

To learn more, visit the U.S. Department of Housing and Urban Development (HUD) program pages below:

General Program Requirements

You must meet the conditions below to qualify for these programs.

Section 203(h) Mortgage Insurance for Disaster Victims:

  • You must own a one-family home damaged or destroyed in a presidentially declared disaster, and
  • You must live in the home.

Section 203(k) Rehabilitation Mortgage Insurance:

  • You must be able to make monthly mortgage payments, and
  • You must be rehabilitating a home that’s at least one year old.

Application Process

To apply, view the lender list to find an approved lender near you.

If you apply under Section 203(h), you must send your application to the lender within one year of the disaster declaration.

Last Updated: 09/01/2020