United State Department of Housing and Urban Development (HUD)

Rehabilitation Mortgage Insurance (Section 203K)

This program makes it easier to obtain a mortgage from a bank or other lender because HUD provides insurance for the mortgage. It is intended for first time home buyers or for purchases of homes in "disadvantaged neighborhoods." It can be for a first mortgage or a re-financed mortgage.

The mortgage may be used for purchase of a new home or modification of an existing home. The loan amount depends on the region; their website shows that they insure loans of up to $144,000 in Maine. The minimum amount is $5,000.

Contact Information

HUD
202 Harlow Street
Room 101
Bangor, ME 04401
(207) 945-0467
http://www.hud.gov (under "Local Information", select "Maine")

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