This FHA 203H loan calculator is designed to help disaster victims understand their home financing options.
Has a natural disaster left you without a home? The FHA 203H program was designed specifically for you.
Unlike traditional mortgages, this special loan offers zero down payment options and dramatically simplified qualification to help disaster victims get back on their feet quickly.
Here's how to get the most out of this FHA 203H loan calculator:
Enter Your Home Details - Input the purchase price of the home you're considering. The FHA 203H program allows for both new purchases and rebuilding.
Adjust Your Down Payment - While the program offers 0% down payment options (a key benefit), you can adjust this if you have savings available.
Set Your Loan Parameters - Input your estimated interest rate, loan term, and credit score. Remember, FHA 203H has more flexible credit requirements than standard loans.
Include Property Expenses - Don't forget to account for annual property taxes and insurance, as these will affect your total monthly payment.
Review Your Results - See your estimated loan amount, monthly payments, and mortgage insurance premium (MIP).
Remember that this calculator provides estimates based on current FHA guidelines for disaster victims. Actual loan terms may vary based on lender requirements, current rates, and individual circumstances.
FHA 203H allows scores as low as 500 with flexible terms.
No down payment required (0% down) & easier qualification standards for disaster victims.
Relaxed credit requirements, flexible DTI ratios, and simplified documentation.
Allows financing of closing costs and offers competitive interest rates.
Available for victims of presidentially declared disasters within one year of the disaster declaration.
