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Alabama Native American Home Loans

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Native American Mortgage Lender Alabama

Native American Home Loans Alabama

The Section 184 Indian Home Loan Guarantee program is a home loan product for federally recognized tribal members, tribes, and tribally designated housing entities. Eligible borrowers include American Indians, Alaska Natives, Tribes, Indian Housing Authorities, and Regional or Village Corporations formed under the Alaska Native Claims Settlement Act. The HUD Native American Home Loan can be used to fund new construction, renovation, the purchase of an existing home, and refinancing, including cash-out refinancing. 

HUD Section 184 Eligibility Requirements

  • Credit 

No minimum credit score is necessary to qualify for the program. However, the borrower must always be creditworthy. Alternative credit is permitted but not in place of traditional credit. Borrowers must demonstrate a track record of meeting financial obligations per their borrower’s credit report. The payment of all liens, collections, and judgments is required. All accounts must have on-time payments for the past year.

  • Down Payment

A 2.25 percent down payment will be required based on the lesser of the home’s appraised worth or its purchase price, Loans under $50,000 demand a 1.25 percent down payment.

  • Income and DTI Ratio

A debt-to-income ratio of 41% is required, which can be higher if there are other compensating factors to make up for it. This means that your mortgage payment and other debts (such as personal loans, auto loans, student loans, credit cards, etc.) can’t take up more than 41% of your gross monthly income. So, if you have a lot of debt, you will have less money left to pay your mortgage.

  • Property 

The property being acquired must comply with lending requirements. The lender will send an appraiser to verify the condition and value of the property to be purchased; the lot must also be subject to site control.

  • Tribal Affiliation

The borrower must present proof of membership in a federally recognized Indian tribe.  The tribe/corporation determines who is a member and how membership is documented. The tribe/corporation usually gives members a membership card. To verify eligibility, the borrower must provide a copy of their membership card.

Apply For Alabama HUD Section 184 Home Loan 

If you belong to a Native American tribe and believe you qualify for a Section 184 loan, Capital Home Mortgage may be able to assist you. Call (205) 352-1030 to speak with a Home Loan Specialist on Alabama Native American Home Loans.
Why Alabama HomeBuyers are Choosing Capital Home Mortgage
Close On Time

Complete Control from Application to Funding

Low Rates & Low Fees

Direct Lender with Competitive Rates and Low Fees

Exceptional Service

7  Day a Week Support Application to Final Mortgage Payment

Alabama Mortgage Rates

Have you ever wondered why interests rates are what they are and what determines the final rate?  Why borrowers receive different interest rates? Or why rates go up and down?  Interest Rates are calculated using several factors.

  • Demand for the mortgage Securities
  • Property securing the mortgage
  • occupancy of the property
  • Loan to value of the property
  • Borrower’s credit worthiness
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Alabama Native American Purchase Loans

HUD 184 Home Loans are solely for Native Americans and offer a variety of purchase benefits.

  • Primary Residences Only
  • Manual Underwriting for All Loans
  • No Credit Score Requirements
  • Tribal Grants Allowed
  • Purchase an Existing Home
  • Construction of a New Home
  • Rehab an Existing Home
  • Purchase / Rehab Combo Loan
PreQualify

Alabama Native American REfinance Loans

HUD 184 Refinance Home Loans can streamline rate & term, equity cash-out, or Rehabilitation of current residence.

CAsh-Out or Renovation

  • Appraisal Required
  • 97.75% Max LTV for Rehab
  • 85% Max LTV for Cash-out
  • County Loan Limits Apply

Streamline REfinance

  • HUD 184 to HUD 184
  • No Income Qualification
  • No Appraisal Required
  • No Mortgage Lates in Last Year
Refinance

Alabama Native American Mortgage Team

Dale Gremillion

Manager / Sr Loan Officer
NMLS 210325
(512) 750-6363
APPLY NOW

Conor Hayhurst

Manager / Sr Loan Officer
NMLS 743506
(940) 393-6787
APPLY NOW

Brad Rund

Director Native American Lending
Director Manufactured Housing
(405) 202-2144
MY HOMEPAGE

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Complaints? Email us at [email protected] or Call (208) 629-0606.  Credit on Approval. Terms subject to Change Without Notice. This is Not a Commitment to Lend.  Capital Home Mortgage at Premier Mortgage Resources, LLC (“PMR”) NMLS # 1169 | www.nmlsconsumeraccess.org | Equal Housing Opportunity | PMR is not an affiliated or an agency of the federal government. All information contained herein is for informational purpose only and, while every effort has been made to ensure accuracy, no guarantee is expressed or implied. Any programs shown do not demonstrate all options or pricing structures. Rates, terms, programs, and underwriting policies are subject to change without notice. This is not an offer to extend credit or a commitment to lend. All loans are subject to underwriting approval. Some products may not be available in all states and restrictions apply. Not an offer to extend credit or a commitment to lend. Terms subject to change without notice.  Not all branches or MLO’s are licensed in all states.

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