HUD 184 Home Loans
Section 184 Native American Home loans
Capital Home Mortgage 184 Team welcomes you and are looking forward to helping you achieve your dream of homeownership or to save you money by refinancing your current mortgage loan. Our whole team is knowledgeable and versed on the Native American Section 184 Loan Program for use both on and off the reservation.
Our team has a proven track record of helping the Native American Community Nationwide achieve their dreams of home ownership. We accomplish this by working with the HUD office of Native American Programs and the Bureau of Indian Affairs to lend in Indian Country successfully. With decades of combined mortgage experience we are here to assist you with your Section 184 Native American Home Mortgage needs. It is an honor to help make your homeownership dream a reality, and we appreciate the trust you have put in our team.
Advantages to Using a Section 184 Native American Home Loan
- Low Down Payment.. 2.25% on loans over $50,000 and 1.25% on loans under $50,000.
- Approval not based solely on the applicants credit scores.
- Manual Underwriting: The program uses a hands on approach to underwriting.
- Section 184 Upfront Loan Guarantee Fee and Annual Mortgage Insurance
- A one time 1.5% upfront fee paid at closing and can be financed into the loan should you choose.
- Loans with a loan to value of 78% or greater will have an annual .25% mortgage insurance premium.
- Protection from predatory lending: Section 184 loans are not subject to adjustable rate mortgages.
How to Use a Section 184 Native American Home Loan
- Purchase an Existing Home.
- Construction of a New Home (Site Built or Manufactured Homes on Permanent Foundations)
- Rehabilitate an Existing Home.
- Purchase / Rehabilitation Combination
- Refinance Home (Rate and Term, Streamline, Cashout)
- Primary Residences Only