FHA 203(h) Disaster Victims Loan. After The Disaster, A Way Back.
FHA 203(h) helps people whose home was destroyed or severely damaged in a federally declared disaster buy again.
Quick answer
Saxton Mortgage does. At least one FHA program we offer makes 203(h) loans when your previous home, owned or rented, was in a Presidentially Declared Major Disaster Area and was destroyed or damaged enough that it must be rebuilt or replaced. The FHA case number must be assigned within one year of the declaration unless an additional period is granted, the new home must be your principal residence, and credit starts at 500. The new home does not have to be in the same area as the old one.
For homeowners displaced by a federally declared disaster
A dedicated FHA program for people whose home was lost or badly damaged.
- For a borrower whose home was destroyed or severely damaged in a Presidentially Declared Major Disaster Area.
- The damage must be severe enough that reconstruction or replacement is necessary.
- The previous home must have been located in the declared disaster area.
- There is a limited window to apply after the disaster is declared, unless an extension is granted.
- It can be combined with the FHA 203(k) product for a purchase and rehabilitation together.
- It can also be combined with 203(k) for a refinance and rehabilitation.
Presidentially Declared Disaster Areas
Home destroyed or severely damaged
Purchase a replacement home
Can be paired with FHA 203(k)
Time limit runs from the declaration
FEMA declaration determines eligibility
What is the Saxton FHA 203(h) Disaster Victims Loan?
FHA financing designed for the specific situation of losing a home to a declared disaster.
When a hurricane, wildfire, flood or other disaster destroys a home, the standard mortgage process is not built for what follows. FHA 203(h) is. It is a program specifically for borrowers whose residence was destroyed or damaged to such an extent that reconstruction or replacement is necessary, in an area the President has formally declared a major disaster.
Eligibility is tied to the declaration. Your previous home has to have been located inside the Presidentially Declared Major Disaster Area, and there is a limited period after the declaration date in which you can apply, unless an additional period of eligibility has been granted. Whether an area is covered and when it was declared is published by FEMA.
It can also be paired with the FHA 203(k) product. That combination lets you purchase and rehabilitate a home in one loan, or refinance and rehabilitate, which matters when the housing available after a disaster needs work itself.
Why choose the Saxton FHA 203(h) Disaster Victims Loan?
For families rebuilding after a federally declared disaster took their home.
Built For This Exact Situation
This is not a standard loan with sympathy applied. It is a distinct FHA program written for disaster victims.
Rehabilitation Can Be Included
Paired with 203(k), the purchase and the repair work can be handled in a single loan, which matters when undamaged housing is scarce.
Renters Qualify Too
Your previous home could have been owned or rented, as long as it sat in a Presidentially Declared Major Disaster Area and was destroyed or damaged badly enough to need reconstruction or replacement.
The Clock Matters
Eligibility runs for a limited period after the disaster declaration. Knowing that date early can be the difference in whether this is available to you.
We Will Check The Declaration
Whether your address falls inside the declared area, and when the clock started, are things we can confirm rather than leave you to work out.
Refinancing Comes With Repairs
FHA permits a disaster refinance only together with rehabilitation through 203(k). Damaged homes in the declared area qualify for 203(k) regardless of the home’s age.
Hear From Homeowners Like You
Frequently Asked Questions
Straight answers about FHA financing after a declared disaster.
Saxton Mortgage does. At least one FHA program we offer makes 203(h) loans when your previous home, owned or rented, was in a Presidentially Declared Major Disaster Area and was destroyed or damaged enough that it must be rebuilt or replaced. The FHA case number must be assigned within one year of the declaration unless an additional period is granted, the new home must be your principal residence, and credit starts at 500. The new home does not have to be in the same area as the old one.
Your area qualifies for FHA 203(h) when it is a Presidentially Declared Major Disaster Area, and FEMA publishes the affected counties and cities for each declaration. We also check the declaration date, because the FHA case number must be assigned within one year of it.
For 203(h), your previous home must have been destroyed or damaged to the point that reconstruction or replacement is necessary. Proof of the damage must accompany your application, and at one program a full home inspection is required when the claim documents do not clearly show it*.
Yes, the FHA case number for a 203(h) loan must be assigned within one year of the date the disaster area was declared, unless FHA provides an additional period of eligibility. Starting early leaves time to gather damage records.
Yes, 203(h) can be paired with 203(k) rehabilitation when the home you buy needs repairs, and at one program purchase rehab with 203(h) is offered for scores of 500 and up*. When the two are combined, the 203(k) financing limits apply.
Yes, FHA allows a 203(h) refinance only in conjunction with rehabilitation, which runs through the 203(k) program. The damaged home qualifies for 203(k) regardless of age, as long as it was completed and ready for occupancy.
Yes, for FHA 203(h) your previous residence, owned or rented, must have been located in the Presidentially Declared Major Disaster Area. The new home you buy can be located outside that area.
No, FHA 203(h) covers either rebuilding your home or buying another single family property or FHA-approved condo unit, and a purchased home can be outside the area where the old one stood. Whichever you choose must become your principal residence.
Find out what you qualify for
If a declared disaster took your home, there is a program written for exactly this. Let us check your address and the timing.
Get Pre-Qualified- U.S. Department of Housing and Urban Development, FHA and housing resources
- U.S. Department of Housing and Urban Development, FHA mortgage insurance premiums
*Loan amounts, rates, terms, and eligibility are subject to credit approval, income and asset verification, and program guidelines. FHA 203(h) requires that the borrower’s previous residence was located in a Presidentially Declared Major Disaster Area and was destroyed or damaged to an extent requiring reconstruction or replacement, and is subject to the eligibility period following the declaration. Not all applicants will qualify. Saxton Mortgage, LLC is an Equal Housing Lender.