What is a Section 184 – Native American Loan

and where can we get one? 

Today Lending finances Native American Loans  

The Section 184 Native American Loan is a fixed rate, government insured home loan available to people who hold CDIB cards from a federally recognized tribe.

These loans can be used to purchase a home or refinance your current loan.

They are similar to FHA loans but have several strong advantages.

Key Benefits:

A down payment of only 2.25% is required. The down payment can be from your

own funds, a gift from a family member, or a first time buyer grant from your tribe.

Monthly mortgage insurance is NOT required. This gives you a much lower monthly payment and allows you to buy a better house on the same budget.

There is no minimum credit score requirement. However your credit file does have to be good for the last 12 months. (No unpaid collections or 30 day late payments.)

The seller can pay up to 6% of the purchase price towards your closing costs. This keeps more money in your pocket for moving expenses and fixing up your new home.

Doublewides are eligible if they meet FHA foundation requirements.

(Primarily concrete runners with steel tie downs.)

If you already own a home, you can refinance your current mortgage with a

Native American loan to reduce your payment, get cash out, or both.

Contact Today Lending for Preapproval before making offers

918-582-7283

Or apply online at www.todaylending.com

FHA, VA, Renovation and Conventional loans available too.

  Equal Opportunity Lender ® ©