Purchase

Buying a Home with a Native American Mortgage:

A Section 184 Native American Loan Offers Many Benefits to Home Buyers

Buying a new home can be a very rewarding experience.  As a home buyer, there is a lot you need to know and selecting the right loan is definitely one of them. If you are eligible, a Section 184 Native American Loan is one of the best loan programs available, even for first time home buyers. Eligible applicants love this program because it offers a very low down payment of 2.25%, flexible underwriting, reduced mortgage insurance premiums and great rates! This loan can be used to purchase or refinance a primary residence.

Purchase A Home With A Smaller Down Payment

Now more than ever banks are requiring large down payments, many loan programs require 10-20% down, putting home ownership out of reach for many prospective home buyers. A Section 184 Native American Loan is perfect for home buyers because the borrower can finance 97.75% of the home’s purchase price and buy that home with a small down payment of only 2.25%.

Save Hundreds of Dollars Every Single Month

Because the loan is a benefit to members of a federally recognized tribe, a Section 184 Native American Loan has monthly mortgage insurance that is less when compared to other programs. Interest rates for Section 184 Native American Loans typically match conventional loans or can be lower in many situations. These two advantages add up to significant monthly savings.

Higher Loan Amounts Allow You to Borrow More

With a maximum loan amount of $420,680, you will have access to a broad range of homes using the Section 184 Native American Loan. Keep in mind that not every applicant will qualify for the maximum Section 184 Native American Mortgage loan amount. The most you can borrow will depend on other factors, like your credit score, debt-to-income ratio, and down payment amount.

It’s Easier to Qualify for a for Section 184 Native American Loan

It’s no secret, getting approved for a conventional home loan these days can be very difficult, particularly for young families and first time home buyers. Because the government backs the Section 184 Native American Loan, the credit and income standards are not as strict making the loan qualification process easier.

The advantages are real. A lower monthly payment, easier qualification guidelines and the ability to purchase with a smaller down payment make a Section 184 Native American Loan the best option for members of a federally recognized tribe.

Do I Qualify?

The Native American Home Loan Advantage

Am I Eligible?

Obtaining a HUD Section 184 Native American home loan is fast and free!

In Oklahoma, only a small portion of tribal members are aware of the Section 184 Native American Home Loan Benefit, even though they may be eligible. To qualify, you must be an American Indian or Alaska Native who is a member of a federally recognized tribe over the age of 18 who will occupy the property as a principal residence.

If you are considering a Section 184 Tribal Loan to buy a home or refinance your current loan, the fastest and easiest way to find out if you are eligible is to get qualified with a Native American Mortgage Specialist who can help you determine your eligibility, monthly payment savings, maximum loan amounts, and program advantages.

Get Qualified More Information

Section 184

news & info

  • 2022 Section 184 Native American Mortgage Loan Limit Increase! 05/18/2022

    THIS IS HISTORIC NEWS FOR ALL OKLAHOMA FEDERAL TRIBAL MEMBERS!  It was just released that the Department of Housing and Urban Development (HUD) increased the maximum loan amount for the Section 184 Native American home loan to $420,680!! This applies to ALL of ... READ MORE
  • Section 184 Program Open for Fiscal Year 2022 10/13/2021

    On August 17, 2021, HUD and the Office of Native American Programs informed Lenders that the Section 184 Indian Home Loan (Section 184) program would begin the Fiscal Year 2021 financial closeout beginning on September 20, 2021. The Fiscal Year closeout process is now ... READ MORE
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