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 restoration of your existing home.

You may use the money for work ranging from minor to a total rebuild. Rebuild 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 get a Limited 203(k)  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 house.

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