FHA 203H Natural Disaster Loan for Qualified Borrowers on Maui

Mortgage and Lending with Kamaaina Mortgage Group Inc.| Equal Housing Lender, NMLS 1276471 - NMLS 312260 NMLS# 312260 / 1276471


An FHA 203(h) loan is a specialized mortgage program which is offered by the Federal Housing Administration (FHA) in the United States. It is designed to assist victims of major natural disasters, like hurricanes, floods, earthquakes, or other catastrophic events like fires , by providing them with affordable financing for purchasing or rebuilding homes.

Here are the key features of the FHA 203(h) loan program:

  1. Disaster Assistance: The primary purpose of the FHA 203(h) loan is to assist individuals whose homes have been destroyed, burned, or severely damaged in a presidentially declared disaster area. These loans help affected individuals and families secure housing after such events.
  2. 100% Financing: One of the main advantages of the FHA 203(h) program is that it allows to finance up to 100% of the home's purchase price or the estimated cost of rebuilding. This means that eligible borrowers may not need a down payment.
  3. Lower Credit Requirements: The FHA is known for its more lenient credit requirements than conventional loans. This can be especially helpful for disaster victims who may have suffered financial setbacks due to the disaster.
  4. Flexible Loan Types: The FHA 203(h) program supports various types of mortgage loans, including fixed and adjustable mortgages. This flexibility allows borrowers to choose a mortgage loan that fits their financial situation best.
  5. Owner-Occupied Properties: The property financed under the FHA 203(h) loan program must be the borrower's primary residence. The borrower must intend to live in the property as their main home.
  6. Applicable Areas: The program is available only in areas officially declared as federal disaster areas by the President of the United States.
  7. Limited Timeframe: Borrowers typically have a limited timeframe to apply for an FHA 203(h) loan following the disaster declaration. This is usually within one year of the order.

It's important to note that specific details of the FHA 203(h) program may vary, and eligibility criteria and guidelines are subject to change. Potential borrowers should contact your local Licensed Mortgage Broker on the Island of Hawaii.


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Comments (2)

Michael Jacobs
Pasadena, CA
Los Angeles Pasadena 818.516.4393

Hello George - keep safe.   

Aug 10, 2023 03:55 AM
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Good morning George. This is one financing program that those eligible see as a life preserver. The sad part is they have to use them. Stay safe. 

Aug 10, 2023 05:20 AM