The Section 184 Indian Home Loan Guarantee Program is a straightforward process. For any problems you might encounter, we’ve made this resource page. Please feel free to contact us at 866-235-4033 if you have any questions or concerns.
What are the Benefits of Section 184 loans?
Low Interest Rates: based on the market, not the applicant’s credit score
Low Down Payment: 2.25% on loans over $50,000
Lower Monthly and Upfront Mortgage Insurance than other programs.
Safe: All Section 184 loans are reasonable and affordable, with reviewed fees and structured appropriately.
Steady: Although America has seen a drop in mortgage lending; Section 184 loans, since they are guaranteed by the Federal Government, have stayed healthy and productive.
Experienced staff: We have the most experienced staff in the industry, with thousands of successful Section 184 loans approved.
Who is Eligible?
Section 184 Home Loan Guarantee is reserved for members of Native American and Alaskan tribes, so to receive a Section 184 loan you must be an enrolled member of a Federally Recognized Tribe. Verification or tribal enrollment will be necessary upon application for a Section 184 loan. Enrollment decisions are made solely by the tribal government. Typically your tribe will provide a card or a letter proving your enrollment status.
Where is the Section 184 Eligible?
The participating Tribes are allowed to determine where Section 184 is Eligible. Section 184 is state wide in some, while in other states it’s limited to specific counties.
Check out this graph to see which states are eligible and the number of Section 184 loans each state has guaranteed here.
Home buying is an important step in life, and it’s a great idea to be as prepared as possible. There are home buying classes and counseling sessions available in nearly every state. Check out the list here.
Understanding all the necessary steps of loan approval also helps expedite the loan approval process, and some Tribes even reward financial assistance to those who attend.
For Frequently Asked Questions please visit our contact page here, or feel free to call us at 866-235-4033
1st Tribal Lending, a dba of Mid America Mortgage, Inc., NMLS 150009 (www.nmlsconsumeraccess.org) | Texas Consumer Complaint Disclosure Arizona Lic BK 091759; licensed by the Department of Business Oversight under the California Residential Mortgage Lending Act Lic 4131103 and Finance Lenders Law Lic 603J732; regulated by the Colorado Division of Real Estate; Illinois Residential Mortgage Licensee MB.6850057; Kansas Licensed Mortgage Company MC.0025093; Massachusetts Lic ML150009; Oregon ML-5045; Washington Lic CL-150009.