Capital Home Mortgage New Mexico

New Mexico Native American Home Loans

Native American Mortgage Lender New Mexico

HUD 184 Home Loans In New Mexico

What is a HUD 184 Native American Home Loan?

The HUD 184 Native American Home Loan Program, also called the Section 184 Indian Home Loan Guarantee Program, is a mortgage product designed specifically for American Indian and Alaska Native families, Alaska villages, communities, and tribally designated housing entities. Established by Congress in 1992, the program seeks to increase access to capital and facilitate homeownership in Native American communities.

In Florida, eligible Native American individuals, families, tribes, and Indian Housing Authorities may use the HUD 184 loan program to achieve homeownership, property rehabilitation, and new construction opportunities on trust land or land in approved Indian and Native areas.

The HUD 184 loans are only available to federally recognized Native American tribe members. In Florida, The Seminole Tribe of Florida (STOF) offers the Home Expansion Loan Program (HELP) to assist tribal members who may not qualify for conventional loan programs.

Benefits of the HUD 184 Loan Program

The HUD 184 Loan Program, also known as the Section 184 Indian Home Loan Guarantee Program, provides the following advantages to eligible Native American individuals and families, nations, and Florida Indian Housing Authorities:

  • Low down payment:

The program requires a 2.25% down payment on loans over $50,000 and a 1.25% down payment on loans under $50,000.

  • Flexible interest rate:

Lenders charge market rates, and no adjustable-rate mortgages are permitted.

  • Loan guarantee:

The loans are guaranteed by the Office of Loan Guarantee within HUD’s Office of Native American Programs, ensuring the lender that its investment will be reimbursed in full in the event of foreclosure.

  • Flexible use:

HUD 184 loans can be used to purchase a home, renovate a new home, or rebuild an existing home.

  • No prepayment penalties:

Borrowers may pay off the loan early without incurring any penalties.

  • Monitored fees:

The program monitors fees to prevent predatory lending.

  • Maximum loan amount:

The maximum loan amount is 150% of the area’s Federal Housing Administration (FHA) lending limits.

These benefits make the HUD 184 loan program an attractive option for eligible Native American Florida borrowers seeking homeownership, property rehabilitation, or new construction opportunities.

HUD 184 Qualification Requirements

The qualification requirements for the HUD 184 home loan program in Florida are as follows:

  • Borrower eligibility:

The borrower must be a federally recognized tribe or a Native Village, tribe, or tribally designated housing entity.

  • Primary residence:

The loan must be used for the borrower’s primary residence.

  • Legal capacity:

Borrowers must have the legal capacity to incur a loan obligation.

  • Citizenship or eligible noncitizen status:

Borrowers must meet citizenship or eligible noncitizenship requirements.

  • Property requirements:

The loan must be secured by a one- to four-unit property located on individual lots or in a condo, cooperative, or PUD project. Manufactured homes that fulfill HUD regulations are eligible.

  • Loan Limits:

No loan made through the Section 184 Indian Home Loan Guarantee Program may exceed 150 percent of the area’s maximum FHA mortgage limit.

Borrowers must work with a HUD-approved Section 184 lender to apply for the HUD 184 home loan program.

Apply for a HUD 184 Home Loan with Capital Home Mortgage

If you are a member of a Native American tribe and believe you may be eligible for a Section 184 loan, Capital Home Mortgage can assist you.

We offer free consultations, answer any concerns about Section 184 mortgages, and explain all possible options. Call us at (505) 448-8884 to speak with a member of our Native American home loan team in New Mexico!

Florida Native American Home Loans

What is a HUD 184 Home Loan Progam?

The Section 184 Loan Guarantee Program was established by the Housing and Community Development Act of 1992 to make it simpler for Native Americans who reside on reservations to get a mortgage. Borrowers can purchase a property with a low down payment and flexible underwriting thanks to section 184 financing. On and off native grounds, section 184 loans can be used for new construction, renovation, buying an existing home, or refinancing. The HUD-184 loan has some of the lowest down payment requirements on the market. For loans of $50,000 or more, a 2.25 percent down payment is required, while a 1.25 percent down payment is required for loans of less than $50,000. A one-time guarantee fee of 1.5 percent is also paid to the government. This cash could originate from your savings, investments, or family gifts. Additionally, tribal assistance is accepted.

Qualification Requirements for HUD Section 184 Loan

You must be an Alaskan or Native American tribal member to qualify for a Section 184 loan. The tribal authority decides who is accepted into the tribe and frequently provides a card or letter to prove it. It will be necessary to provide documentation of tribal membership when applying for a Section 184 loan. It is up to the participating Tribes to decide whether Section 184 eligibility applies to specific counties or the entire state. The HUD-184 mortgage loan program requires no minimum credit score. It is the ideal solution for qualified individuals with marginal credit. Unlike most mortgage programs, marginal credit borrowers are not subject to higher interest rates.

How HUD Section 184 Home Loan Program Works

The Office of Loan Guarantee, a section of HUD’s Office of Native American Programs, insures the Section 184 home mortgage loans given to Native borrowers. The loan program guarantees the lender that its investment will be repaid entirely in the event of a foreclosure. Each county sets its borrowing restrictions for HUD Section 184. Here are the most recent loan limit figures. Members of federally recognized tribes that are American Indians or Alaska Natives are eligible for the loan. This year’s complete list of Indian tribes with federal recognition is available here. The Borrower shall consult with the Tribe and the Bureau of Indian Affairs regarding its request for a Section 184 loan from a participating lender and its lease of tribal territory. After carefully reviewing the necessary loan documents, the lender submits the loan for approval to HUD’s Office of Loan Guarantee.

Apply for HUD Section 184 Home Loan

Capital Home Mortgage can assist you if you are a member of a Native American tribe and feel you may be qualified for a Section 184 loan. We provide complimentary consultations, answer any questions you may have concerning Section 184 mortgages, and explain all available mortgage options. Call us at 800-536-8171 to speak with a Native American home loan team member!
Why New Mexico HomeBuyers are Choosing Capital Home Mortgage
Close On Time

Complete Control from Application to Funding

Low Rates & Low Fees

Direct Lender with Competitive Rates & Low Fees

Exceptional Service

7  Day a Week Support Application to Final Mortgage Payment

New Mexico 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 mortgage Securities
  • Property securing the mortgage
  • occupancy of the property
  • Loan to value of the property
  • Borrower’s credit worthiness

New Mexico Native American Purchase Loans

  • 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

New Mexico Native American REfinance Loans

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
New Mexico Mortgage Programs

New Mexico Home Purchase

Thinking of Buying a New Mexico Home?

Looking to Purchase a Home? We have the loan program for you… Call today to speak with a loan officer to discuss your personal mortgage options.

  • Primary, Secondary, Investment
  • FHA, VA, USDA, Native American
  • Conventional, Jumbo, Non QM
  • Reverse, Renovation, Manufactured

New Mexico renovation home loans

Looking to Rehab a New Mexico Home?

Want the Charm of an Older Neighborhood? But want a new place or a fresh look? Why not look at a renovation loan?  Purchase the Perfect Home and make it your own. Call today.

  • Remodel, Renovate or Repairs
  • FHA 203K Streamline or full
  • fannie mae homestyle reno
  • freddie mac home choice reno

New Mexico FHA Home Loans

Great for 1st Time New Mexico Homebuyers

FHA Home Loans are great for first time home buyers, buyers with less than perfect credit, or buyers needing less out of pocket.   Call today to get started.

  • Smaller Down Payment
  • Flexible Underwriting
  • Higher Debt to Income Ratios
  • Lower Credit Scores OK

New Mexico VA Home Loans

100% Financing for New Mexico Veterans

Proudly Serving Active Duty servicemen and women, as well as, retired and disabled veterans. Call today to speak with a VA loan officer.

  • Simply Qualifying for Veterans
  • No Down Payments Requirements
  • Lower Credit Scores Accepted
  • Manual Underwriting Allowed

New Mexico Conventional Home Loans

Flexibility for New Mexico Homebuyers

Conventional Home Loans are the best option for flexibility of property types and for mortgage loan terms. Call today to get speak to a Loan Officer.

  • Primary, 2nd Home, Investment
  • Great Rates & Low Fees 
  • Single Family and Multi-Family
  • Renovation Loan Programs

New Mexico Jumbo Home Loans

New Mexico Non Conforming Loans

Jumbo Home Loans also called Non Conforming Home Loans are great options for buyers needing financing outside of agency limits.  Call today to speak to a loan officer.

  • Primary Residence and 2nd Homes
  • Higher Loan Amounts – 3 Million
  • Great Interest Rates
  • Investor Specific Guidelines

New Mexico USDA Home Loans

100% Rural New Mexico Home Loans

USDA Loans are a great option for families wanting to live outside of the city.  Call today to speak with a loan officer to discuss your personal loan options.

  • Rural Properties Only
  • Primary Residence Only
  • Geographic Restrictions
  • Income REstrictions

New Mexico Native American Home Loans

New Mexico HUD 184 Home Loans

HUD 184 Home Loans are solely for Native American and offer a variety of benefits.  Call today to speak with a loan officer to find out more.

  • Primary Residence Only
  • Manual Underwriting for All Loans
  • No Credit Score Requirements
  • Tribal Grants Allowed

New Mexico Manufactured Home Loans

Great Alternative New Mexico Housing

New Mexico reverse mortgages

Your New Mexico Home at Work

Reverse Mortgage Loans offer seniors options to use their home’s equity for cash or to eliminate payments. Call today to get speak to a Reverse Loan Officer.

  • primary residence only
  • simple qualifying – equity based
  • credit scores not applicable
  • Minimum age 62

New Mexico Non QM Home Loans

Making New Mexico Mortgages Possible

Looking for Non Traditional Home Mortgage Loan?  Contact a Loan Officer Today to discuss the alternative mortgage options currently available.

  • Purchase, Rate and Term & Cash-out
  • Primary, Secondary and Investment
  • Full Doc & Bank Statements Programs
  • Corporations OK

New Mexico One Time Close Home Loans

Build Your New Mexico Dream Home

Want to Build? But unsure of what the future looks like? Remove the risk with a One Time Close Construction Loan.  Call today to see how a OTC loan works.

  • Primary Residence Only
  • Close Once
  • Lock Rate at Contract
  • Traditional Final Mortgage

New Mexico Refinance Mortgage Loans

New Mexico Rate & Term Refinance

Refinancing can be a hard decision and the payback can sometimes be confusing.  Call today and let our Loan Officers walk you through the process.

  • Reduce Mortgage Term
  • Lower Monthly Payments
  • Appraisal Waivers
  • Streamline Options Available

New Mexico Cash-out Home mortgages

New Mexico Equity Mortgage Loans

Cash-Out Mortgage Loans make use of the equity in your home by allowing you to refinance the current mortgage and access this equity to use as you see fit.

  • Debt Consolidation
  • Investment Opportunities
  • Home Improvement
  • Vacation or Education

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