Program Description
This program may help individuals finance the cost of purchasing
and rehabilitating their new or existing home. While HUD does not lend money
directly to buyers to purchase a home, FHA-approved lenders make loans
through a number of FHA-insurance programs.
General Program Requirements
In order to qualify for this benefit program, you must be a current
or prospective homeowner who is planning to repair or improve a residential
structure that is more than one year old.
Loan Terms
Market Interest Rate, with variable Upfront Fees and no Pre-payment
penalties. Maximum Loan Length 30 years. Maximum Loan Amount is based on
area loan limit. Monthly Payment Frequency.
Application Process
For more information, see the Program Contact Information below.
Program Contact Information
To read more about this program, go to:
http://www.hud.gov/offices/hsg/sfh/203k/203k--df.cfm
For housing rehabilitation that does not require buying or
refinancing the property, read:
http://www.hud.gov/offices/hsg/sfh/title/title-i.cfm
To obtain a FHA-insured mortgage, look in your local Yellow Pages
under "Mortgages" or contact a FHA-approved lender:
http://www.hud.gov/ll/code/llplcrit.html
To read more about help for disaster victims, go to:
http://www.fema.gov
Managing Agency
U.S. Department of Housing and Urban Development
http://www.hud.gov/
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