ZERO DOWN PAYMENT FOR HURRICANE HARVEY VICTIMS

October 13, 2017

Did you know that a new loan product was released to relieve the stress of Hurricane Harvey? Yes that's right! You can move in with zero dollars down for your down payment if you were affected by Hurricane Harvey.

The Loan is called "FHA 203H" and it was released after the devastation of Hurricane Harvey. Now is the time to act if you have ever thought about owning a home. FHA 203B requires a minimum of 3.5% down, but with the new programs"FHA 203H, the down payment is 0%.

To qualify you need the following:
Minimum FICO Score of 500
Affected by a Presidentially-Declared Major Disaster/Area
Previous Residence must be destroyed to such a manner that replacement is necessary
Short-term employment history is acceptable (some employment records were destroyed due to the devastation)

Borrowers of this loan will only have 1 year from the disaster to take advantage of the 0% down payment. Lenders may have additional requirements.

Like this post? Learn more about the home buying process by following @houstonrealtorb on instagram. Or click the link for more information.

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