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Disaster Relief Loan Program:

Government Loan for Natural Disaster Victims

Government

The Federal Government helps victims in Presidentially-Declared Major Disaster Area (PDMDA) recover by making it easier to get mortgages and become homeowners or re-establish themselves as homeowners.

 

The Federal Government helps victims in Presidentially-Declared Major Disaster Area (PDMDA) recover by making it easier to get mortgages and become homeowners or re-establish themselves as homeowners. The Disaster Relief Loan Program allows victims of a major disaster who have lost their homes and are in the process of rebuilding or buying another home.

The Borrower must provide conclusive evidence that their previous residence was located in a disaster area and was destroyed or damaged to such an extent that replacement is necessary. Documentation showing a permanent home in the affected site before the disaster includes a valid driver's license, a voter registration card, utility bills, etc. Documentation regarding the destruction of the residence may consist of an insurance report, an inspection report by an independent fee inspector or government agency, or conclusive photographic evidence showing the destruction or damage. The Borrower may have been the owner or a renter of the property affected.

Disaster Relief Loan Program offers features that make a recovery from a disaster easier:

Eligibility:

• Program is available to renters and homeowners of damaged homes.
• Credit score as low as 600 as well as borrowers with no credit (non-traditional credit).
• The purchased property must be a single-family residence.
• The purchased house must be primary residence only.
• Eligible applicants include U. S. citizens, permanent resident aliens, Non-permanent resident aliens as allowed by HUD guidelines, and Non-occupant co-borrowers.
• Applicant must proof prior residence is uninhabitable.

Benefits:

• No down payment is required.
• The Borrower is eligible for 100 % financing.
• Closing costs and prepaid expenses can be paid through premium pricing or by the seller, subject to a 6 % limitation on seller concessions.
• Loans available with 10, 15, 20, 25, 30-year terms.
• Mortgage Payment on the destroyed residence located in a PDMDA excluded from the Borrower's liabilities IF Borrower obtains the information that the Borrower is working with the servicing Mortgagee to address their mortgage obligation appropriately, and apply any property insurance proceeds to the Mortgage of the damaged house.

 

Don't wait any longer and find out how much loan you can get Pre-Approved.

If you have lost your primary residence due to a natural disaster, Clear Lending can help you. Simply complete our secure and encrypted Pre-Approval Form online, and we will contact you right away to review the best options for you.

Not all applicants will qualify. This advertisement is not an offer for an extension of credit. Please meet with a licensed loan originator for more information as programs are available only to qualified borrowers. Programs rates, fees, terms, and programs are subject to change without notice. Not all loans, loan sizes, or products may apply. Loans are subject to borrower qualifications, including income, property evaluation, sufficient equity in the home to meet loan-to-value requirements, and final credit approval. Approvals are subject to underwriting guidelines and program guidelines and are subject to change without notice. Some restrictions may apply.


Customers Reviews:

  • Nicole Elizabeth • June 05, 2015

    Joan was amazing! After being let down by Chase mortgage company, Joan and his team picked up the pieces and helped me out tremendously! I would recommend going through him for loans instead of a big commercial bank. No matter what time of day; he would answer any questions or reached out to me about any concerns. He is with you and the realtor every step of the way to help get you a home. Very passionate about helping clients get a home! I would like to thank Joan and his team for helping me get my first home! Y'all made the home buying process easy for me! Thank you again. I love my home.

  • Peter Molina • July 04, 2019

    FROM GOOGLE: I just want to thank Joan G. for an excellent job on our loan. This was our first home and the experience was great. He was very knowledgeable with all the different types of home loans. Joan explain the whole loan process clearly and how your credit works to get the loan. When it came to closing on the house all the paperwork was done properly with less stress on us. I would recommend using Joan G. at Clear Leading for your house and loans.

  • Blanca Perez • August 21, 2020

    Nuestra experiencia con Clear Lending fue sin duda una de las mejores. Al principio pensamos que era imposible comprar casa pero con la ayuda de Joan y su equipo nuestro sueño se hizo realidad. Si tienes duda llama ellos siempre estan disponibles. Incluso una amiga quien estuvo en mi caso ya obtuvo su primer casa. MIL GRACIAS!!!

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