Lac Vieux Band Michigan Home Loan
The Lac Vieux Desert Band of Lake Superior Chippewa Indians, Michigan is eligible for our HUD Backed 184k Native American Home Loan. We accept any affiliation with a federally recognized tribe. We offer a reduced interest rate and closing cost loan with no maximum income guidelines.
– 2.25% down payment necessity for loans more than $50,000.
– 1.25% down payment necessity for loans below $50,000.
– No Monthly mortgage insurance.
– A one-time, 1 percent loan guarantee fee that could be additional to your financed loan.
– HUD underwriters are recognizable with the exclusive situations as well as circumstances concerned while acquiring financing on the American Indian land.
There are many alternatives for loans obtainable through Section 184 Program. Borrowers could:
– Buy an existing home.
– Build a new home (stick-built or a manufactured home on enduring basis).
– Rehabilitate a home.
– Buy and regenerate a home.
– Refinance an obtainable mortgage (Rate & Term, Streamline and Cash-Out).