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Program: Section 184 Indian Home Loan Guarantee Program

Detail Verified 12/7/2018 - Last Updated 1/22/2018

Program Overview

A program that provides home ownership opportunities to Native Americans, Tribes, Tribally Designated Housing Entities (TDHEs), through a guaranteed mortgage loan program available through private financial institutions.

Section 184 loans can be used, both on and off native lands, for new construction, rehabilitation, purchase of an existing home, or refinance.

Who is Eligible for this Program?

In order to qualify for the program, you must be a Native American/American Indian/Alaskan Native tribal member in the process of buying a home that will be your primary residence. You and your family member(s) must also be enrolled in a federally recognized American Indian tribe or Alaskan Native village.

No Maximum Income limits

Loan limits vary by county. The listing of mortgage limits may be obtained from www.hud.gov

Funds can be used for:

Purchase an Existing Home
Construct a New Home (Site-Built or Manufactured)
Refinance a Home (Rate and Term, Streamline, Cash Out)

Is this program for first time buyers only?: No

Property Eligibility Requirements

State of Oregon is eligible

Benefit Details

A single, fixed-rate 30 year loan with no need for a second mortgage. Low down payment loans. No mortgage insurance premium required. Good interest rates, even for credit-challenged borrowers.

Benefit: Guaranteed mortgage loan program. 100% guarantee to the lender in the event of a foreclosure and claim. Loans may be assumed by a creditworthy borrower that meets program eligibility.

Rather than pay a monthly mortgage insurance premium on top of your monthly mortgage payment you will pay a one-time 1.5% guarantee fee at closing. The loan guarantee fee can be financed with the mortgage loan.

Homebuyer Counseling / Education Required: No

Owner Occupancy Required: Yes

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