The Native American Home Loan Benefit Program:
As a Native American in Oklahoma, a unique mortgage, the Section 184 loan, is available just for you as a federally recognized tribal member. Many people are using their Section 184 Native American loan benefit to lower their monthly payment, lower their interest rate, or purchase a home with a smaller down payment.
Authorized under the Housing and Community Development Act of 1992, the Section 184 Indian Loan Program is designed to offer home ownership, property rehabilitation, new construction, and refinance opportunities for eligible individual Native Americans, tribes.
A Native American mortgage offers:
- The ability to be used to purchase a home or refinance an existing home loan
- A very small down payment of only 2.25%
- Low mortgage insurance, keeping your monthly payment lower
- Generous underwriting allowances for abnormal circumstances
- A maximum loan amount of $271,050
- Low Fixed Interest Rate
- An extended 30 year term is available to keep your payments low
- No maximum income limit
- Any property in Oklahoma is eligible
- A no credit score underwriting option is available
Click here to be immediately matched with a Native American Loan certified loan officer specializing in your area to work with you throughout the loan process.