Section 184 Loans Amaze Tribal Members

Section 184 Loans

Section 184 Loans program are available to members of Federally Recognized tribes in dedicated areas throughout the country.  Many states are fully recognized areas such as Oklahoma, Kansas, New Mexico, Washington, California, Colorado, Oregon and Florida.  Tribal members can participate in the Section 184 Loan in any area regardless of Tribal affiliation.  For Example, A member of the Cherokee Nation can purchase a home in any of the mentioned states.  The member isn’t confined to Oklahoma where Cherokee Nation is Headquartered.

In addition, the Section 184 Loan program has no income caps.  This isn’t a low income program.  All tribal member scan participate in the program.  The only restriction are the loan amount limits.  Each county in Oklahoma, Kansas, New Mexico,

Washington, California, Colorado, Oregon and Florida have their own Section 184 loan limits.

One of the best features of the Section 184 Loans program is easy underwriting.  There are no minimum credit score requirements.  We require that you have on-time credit history for the previous 12 months.  All collections have to be paid as agreed.  If collections have occurred within the last 12 months you’re OK as long as they are paid.  If the collections are too large to pay off we will accept a payment arrangement if 12 months of on-time payments  can be documented.

A few Eligibility Highlights include:

  • Bankruptcy 2yrs after discharge
  • Foreclosure after 3yrs from Sheriff Sale
  • Low PMI ($15 per 100k Financed)
  • Manufactured, Modular or Metal Homes Allowed
  • Single Close Construction Loan with only 2.25% down
    Member of American Indian Chamber

    Member of American Indian Chamber

  • Only 2.25% down
  • Down Payment Can be Gifted or Borrowed.
  • Loan Limits up to $417k (see county eligibility)
  • Great Interest Rates
  • Refinance up to 97.75LTV
  • Refinance 85% up to Cash-out
  • Tribal Down Payment Assistance Accepted

There are many more features of the Section 184 Loans program.  Today Lending Specializes with working with Native Americans purchase a home.  We would love to walk you through the loan process. Please call with any questions. 918-582-7283