What is a Section 184 Indian Home Loan Program?
The Section 184 Indian Home Loan Guarantee Program is a home mortgage product specifically designed for American Indian and Alaska Native families, Alaska villages, tribes, or tribally designated housing entities. Congress established this program in 1992 to facilitate homeownership and increase access to capital in Native American Communities.
With Section 184 financing borrowers can get into a home with a low down payment and flexible underwriting. Section 184 loans can be used, both on and off native lands, for new construction, rehabilitation, purchase of an existing home, or refinance.
Section 184 is synonymous with home ownership in Indian Country.
To help increase Native access to financing, the Office of Loan
Guarantee within HUD’s Office of Native American Programs,
guarantees the Section 184 home mortgage loans made to Native
Borrowers.
By providing this guarantee, HUD has made it possible for lenders
to serve Native Communities both on and offthe reservation. This
increases the marketability and value of the Native assets and
strengthens the financial standing of Native Communities
Loan Program Highlights
Only 2.25% downpayment
No annual mortgage insurance!
Must be enrolled tribal member of a federally recognized tribe
Use the loan anywhere/county of state of California
Can be used on reservations or off reservation
Not credit based, no 30 day lates, no active collections, can use alternative trade lines such as rent payments, phone, PGE
No credit score ok
For more information call or text us now at (559) 287-8065
Xcellerate Home Loans
CADRE# 02022288, NMLS# 1726899