The Section 184 Program was designed to improve access to capitol for Native Americans, act as a credit enhancement mechanism for lenders, and provide private funding opportunities for tribal housing agencies. It comes with a 100% guarantee for home loans!
This Loan is a Nationwide Program on Trust Land, allotted trust, or fee simple land within Indian Operating areas. All of New Mexico and Colorado qualify.
A loan can be taken out up to $300,000 and it requires only a down payment of 2.25%! You will not have to pay a Monthly Mortgage Insurance and there is not a maximum income limit. This assumable loan allows credit scores as low as 580 to apply! And the seller may pay up to 6% of the purchaser's closing costs.
Here at Sun West Mortgage, we offer direct underwriting for the Section 184 Loan!
Those who are eligible to apply are any Native American or Alaskan Native that is a member of a federally recognized tribe or an Alaskan Village. Indian Tribes, Tribal Designated Housing Entities, and Indian Housing Authorities also qualify.
This loan will cover the purchase of an existing home, the construction of a new home, or the refinancing of a current mortgage!
What are you waiting for? Call Todd today to find out if you qualify to benefit from this great loan! 505-918-1028
