Native American Home Mortgage
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Native American Mortgage Lender
Are you wondering about Native American Home Mortgages or Native American Mortgage Rates and if you should use your Native American Home Loan Benefit? Capital Home Mortgage can help you understand the advantages of your Native American Home Loan and if it is the right time to use the benefit for the current mortgage purchase, refinance, renovation or construction. Capital Home Mortgage is a direct Native American Mortgage Lender, which means we have direct authority to underwrite, approve, and fund your Native American Home Loan. This control of the lending process and loan approval allows for streamline operations resulting in a quick and stress-free experience.
Ready to get started? Call now and one of our Native American Mortgage Professionals will answer your questions and walk you through the application, pre-qualification and approval process. Call today (800) 699-4943 to speak to a Loan Officer.
Thank you again for allowing us the opportunity to provide your Native American Home Loan.
Native American Mortgage Rates
HUD 184 Mortgage Program Background and Purpose
The Section 184 Indian Home Loan Guarantee Program was created by the Housing and Community Development Act of 1992 to address the lack of mortgage lending in Indian Country. Native American homeownership has historically been an underserved market. Land held in trust for a tribe cannot be mortgaged, and land held in trust for an individual must receive approval from the Bureau of Indian Affairs (BIA), before a lien is placed on the property. Without the ability to mortgage and foreclose on a home or place a lien on individual trust property, lenders have found it difficult to make home loans to individual Native Americans.
Working with an expanding network of private sector and tribal partners, the Section 184 Indian Home Loan Guarantee Program endeavors to increase access to capital for Native Americans and provide private funding opportunities for tribal housing agencies with the Section 184 Indian Home Loan Guarantee Program. The program has grown to include eligible areas, determined by participating tribes, across the country. The Section 184 Indian Home Loan Guarantee Program is a home mortgage specifically designed for American Indian and Alaska Native families, Alaska Villages, Tribes, or Tribally Designated Housing Entities.
Why Native Americans Are Choosing Capital Home Mortgage
Close On Time with True Approval
Control Application to Funding
Great Rates / Low Fees
Direct VA Mortgage Lender
Exceptional Customer Service
Application to Final Payment
Native American HUD 184 Home Loan Program
Barriers to Homeownership in Indian Country
Much of the land in Indian country is held in trust by the U.S. government for the benefit of a particular tribe or individual Native Americans. Land held in trust for a tribe cannot be mortgaged, and land held in trust for an individual must receive federal approval before a lien is placed on the property. As a result, tribes, IHAs/TDHEs, and individual Native American families have historically had limited access to private mortgage capital.
The Section 184 Loan Guarantee Program
In 1992 Congress created a federal program specifically designed to address the lack of mortgage capital in Indian country. Under the provisions of Section 184 of the Housing and Community Development Act of 1992 and as amended under the provisions of the Native American Housing Assistance and Self-Determination Act of 1996, the U.S. Department of Housing and Urban Development (HUD) was authorized to guarantee loans made by private lenders to Native Americans, IHAs/TDHEs and tribes. The loan guarantee program is intended to increase the availability of mortgage lending on Indian reservations or designated Indian operating areas.
Native American Home Mortgage Programs
HUD 184 Home Mortgage Loan
Are You Interested in a Native American Home Mortgage? Want to know what Native American Mortgage Rates are? Want to see how much you qualify for with a Native American Purchase Home Mortgage? Thinking of Refinancing? Need information on a Native American Refinance Home Mortgage, a Native American Streamline Refinance Home Mortgage or a Native American Cash Out Mortgage? Or maybe your thinking about renovating with a Native American Renovation Home Mortgage or building with a Native American Construction Home Mortgage. No matter your questions Capital Home Mortgage understands the requirements of each type of Alabama Native American Home Loan.
Here are some important details you need to know before applying for the Alabama HUD 184 Native American Home Loans.
- Credit Score: The HUD-184 Loan does not require a minimum credit score, making it ideal for qualified and credit-challenged borrowers.
- Debt-to-Income Ratio: A single back ratio of 41% to 43% debt-to-income ratio to determine the loan size borrowers can afford.
- Borrower Income Limit: The HUD-184 Loan does not have borrower income limits.
- Down Payment : The HUD-184 Loan has some of the lowest down payment requirements in the market.
- Closing Costs: This money could come from your savings, investments, or gifts from family members. Tribal assistance is also accepted.
- Eligible borrowers may participate in the program multiple times but are allowed only one Section HUD 184 Loan at a time
Capital Home Mortgage is proud to help Native Americans in obtaining the dream of home ownership. The benefits of a the HUD 184 Native American are many. Too find out about all of the benefits available contact one of our Native American Loan Officers to discuss the loan pre-qualification process.
- Existing Home, Renovation, Construction
- No Monthly Mortgage Insurance Required
- Simple Qualifying / Manual Underwriting
- Alternate Credit Allowed
- Seller Paid Closing Costs Allowed
- Small Down Payment of 2.25%
- Max Debt Ratio is 43%
- County Loan Limits Apply
Capital Home Mortgage is proud to assist Native Americans in reducing their mortgage payment through a Native American Streamline Refinance Home Loan. Contact our Native American Loan Officers to discuss the process and how simple it is to lower your Native American Mortgage Rate.
- HUD 184 to HUD 184
- No Appraisal
- No Income Verification
- No Mortgage Lates in Last Year
- Closing Costs Can Be Rolled Into the Loan
- Must Provide a Benefit
- Lower Payment, Shorten Term
- County Loan Limits Apply
Capital Home Mortgage is proud to help Native Americans in converting their current mortgage program over to a Native American Home Mortgage. Contact our Native American Loan Officers to discuss how to do the conversion and much you can save on your monthly payment.
- Rate & Term 97.75%
- Appraisal Required
- Income Required
- Closing Costs Can Be Rolled Into Loan
- Must Provide Benefit
- No Mortgage Lates in Last Year
- Lower Payment, Shorten Term
- County Loan Limits Apply
Capital Home Mortgage is proud to assist Native Americans in using their Native American Cash Out Home Mortgage Benefit. Contact our Native American Loan Officers to discuss how to do maximize the equity in your home by converting you mortgage into a Native American Cash Out Home Loan.
- Existing Homes Equity
- No Monthly Mortgage Insurance Required
- Simple Qualifying / Manual Underwriting
- Alternate Credit Allowed
- Max LTV for Cash Out is 85%
- Appraisal Required
- Max Debt Ratio is 43%
- County Loan Limits Apply
Capital Home Mortgage is proud to help Native Americans in renovating their home with a Native American Renovation Home Mortgage program Contact our Native American Loan Officers to discuss how to do the make your current house into the dream home.
- Purchase / Refinance Options
- Subject to Completion Appraisal
- No Monthly Mortgage Insurance Required
- Simple Qualifying / Manual Underwriting
- Alternate Credit Allowed
- 97.75% Max LTV
- Max Debt Ratio is 43%
- County Loan Limits Apply
Capital Home Mortgage is proud to help Native Americans achieve the reality of building their dream home with a Native American Construction Home Mortgage. Contact our Native American Loan Officers and they will walk you through the process from application to funding.
- Subject to Completion Appraisal
- No Monthly Mortgage Insurance Required
- Simple Qualifying / Manual Underwriting
- Tribal Grants Allowed
- Seller Paid Closing Costs Allowed
- Small Down Payment of 2.25%
- Max Debt Ratio is 43%
- County Loan Limits Apply
Borrowers wishing to use a Section 184 Indian Home Loan Guarantee Program loan must be a currently enrolled member of a Federally Recognized Tribe or Alaska Native.
For Native Hawaiians, participation is through Section 184A: Native Hawaiian Housing Loan Guarantee Program.
