Did you know there is a specialty FHA loan program that allows for 100% financing to help victims of disasters purchase a new home after their existing residence was substantially damaged? There is and Mortgages for America offers this program to help these famlies.
The FHA 203(b) with Repair Escrow program allows insuring and additional financing of HUD properties in need of repairs to meet minimum property standards.
-- Include Repairs up to $10,000
-- The Ability to bring the home to code
The USDA Repair Escrow allows for financing of minor renovation costs to a home that meets property standards.
-- Exterior and interior repair escrows (combined) should be under 10% of the final loan amount