The Great Flood of 2016: Did you flood?

The Great Flood of 2016: Did you Flood?

Did you flood in August or know anyone that did? If so, you need to read this to learn about the special home loan program available to help flood victims.

From HUD's website: The Section 203(h) program allows the Federal Housing Administration (FHA) to insure mortgages made by qualified lenders to victims of a major disaster who have lost their homes and are in the process of rebuilding or buying another home. Through Section 203(h), the Federal Government helps victims in Presidentially designated disaster areas recover by making it easier for them to get mortgages and become homeowners or re-establish themselves as homeowners. No downpayment is required.

In a nutshell, if you had to move because your home or place of rent was damaged by the flood, you probably qualify for this 100% financing progam. The credit score requirement is a 580 and the maximum loan amount is $275,665. To get qualified for this program, complete the form on this page and we will walk you through the process. We have helped many families since August get back into their own homes and we'd love to help you too. If you have any questions before you start the process, please call Erica Whiddon with First Choice Mortgage, LLC at 225-664-9895.

* Specific loan program availability and requirements may vary. Please get in touch with your mortgage advisor for more information.