Belinda Spillman has enlightened me on a lending program that is specifically designed for American Indian and Alaska Native families, which has historically been an under served market. The HUD Section 184 Indian Home Loan Guarantee Program is something that can be very useful here in Arizona. Through 2014, this program has guaranteed over 24,000 loans, for almost $4 billion dollars in guaranteed funds. Hopefully this post will help get the message out to even more of those individuals and families who could benefit from this program. Check out this Section 184 Indian Home Loan Guarantee Program link for additional information.
HUD Section 184 Mortgages – Native American Lending Program
The Section 184 Native American home loan program is a wonderful benefit for many. This program is specifically designed for Native American Indians and Alaska Natives who are members of a federally recognized tribe or an Alaska Village. This loan can be used for purchase or refinance and is eligible for properties on or off reservation.
Photo Courtesy of ENG Lending
This program is available in many U.S. States and is available anywhere in Colorado. The map below shows which states allow for the HUD 184 program. Some states only allow for this financing in certain counties and other states have not adopted this financing yet.
Here are some of the program’s highlights:
Purchase or refinance
No Max Income Limit for Borrower
Alternative Credit is accepted
Files are Manually Underwritten
Low Down Payment
Low Mortgage Insurance
This program has helped so many Native Americans realize their dream of home ownership. Not all lenders can offer this financing. Only HUD 184 approved lenders are eligible.
We are lucky enough to work with a lender who is approved to issue the HUD 184 mortgage and who knows the program inside and out.
Garrett Duncan, Loan Originator
Licensed in all STATES!
720.496.2304 or 720.525.9382
Garrett is very knowledgeable about the HUD 184 Loan Program and has successfully helped many Native American families realize their dream of home ownership in Colorado as well as all the other qualifying states. Garrett personally utilized this program when he purchased his home.