The FHA 203(h) mortgage may be used to finance the purchase of a new home with no down payment and favorable terms.
- 100% financing available
- Financing options available for FICO scores as low as 640
- FHA mortgage limits range from $275,665 to $636,150 in high cost areas
- No borrower income limit
- If you plan on purchasing a new home, the new home need not be located in the area where the previous house was located.
- Renters that were displaced within a declared disaster area are also eligible for this program.