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Corpus Christi Native American Home Loans

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Corpus Christi Native American Home Lender

Corpus Christi Native American Home Loans

Are you a Native American looking to own a home in Corpus Christi? You may be able to obtain the financing you need through a Section 184 Native American home loan. This mortgage program is designed to help Native Americans achieve homeownership, provided they meet the eligibility requirements. All applications are made through the Office of Loan Guarantee of the U.S. Department of Housing and Urban.

Not all lending institutions can offer Native American Home Loans. A lender must be a participating lender accredited by the HUD. Capital Home Mortgage is a participating lender for Native American home loans in Corpus Christi. Our mortgage officers are well-versed in the legal requirements and processes to help get you started.

We’ve put together these facts about Native American home loans below so you can familiarize yourself with how the program works.

Qualification Requirements of Native American Loans

The borrower must be:

  1. A member of federally recognized American Indian or Alaskan Native tribes;
  2. A federally-recognized Indian tribe;
  3. A tribally designated housing entity, or;
  4. Indian Housing Authorities.

Section 184A covers home loans for Native Hawaiians. Aside from borrower requirements, you must get the loans in an eligible area. Section 184 has a list of approved counties. There are ineligible states which means that you Natives can’t get a loan, while there are states that require either full or partial approval.

What are the Benefits of Native American Home Loans?

Section 184 can give up to a 100% guarantee to banks and lending institutions to encourage them to accept Native American loans. Moreover, the down payment can go as low as 2.25% for loans over $50,000 or 1.25% for loans under $50,000. The interest rate is also market-based, so Native American borrowers need not worry about having a high credit score.

Native American home loans have an upfront guarantee fee of 1.5% at closing. However, borrowers don’t need to pay this out-of-pocket since you can finance it into the loan. Mortgage insurance is still present but minimal at 0.25% annual insurance premium, that is, if the loan-to-value is at least 78% or above.

What are the Limitations of a Section 184 Loan?

A notable limitation of this loan is that it’s not available in all states. However, you can still live in states that allow Native American home ownership. Once you get your loan, there are specific rules about fund usage. You can only use it in the following instances:

  • Purchasing a home in existing areas;
  • Constructing a home (including manufactured homes);
  • Rehabilitating homes;
  • Buying an old house and rehabilitating it;
  • Refinancing.

Get a Section 184 Home Loan from Capital Home Mortgage

Speak to our Corpus Christi Native American loan experts today to discuss your HUD 184 home loan. Capital Home Mortgage is committed to providing a seamless, enjoyable home-buying experience. As direct lenders, we make all the decisions regarding your loan, so there are no unnecessary delays. Get started today by calling (361) 724-3166.

Why Corpus Christi is Choosing Capital Home Mortgage...

Close On Time with True Approval

Control of the Loan from the Application to Funding.

Great Corpus Christi Rates

Direct Mortgage Lender Providing Competitive Rates and Low Fees.

Corpus Christi Customer Service

7  Day a Week Support from Application to Final Mortgage Payment. 

Corpus Christi Native American Home Loans

How to Use a Native American Home Loan

  • Purchase an Existing Home
  • Construction of a New Home
    • (Site Built or Manufactured)
  • Rehab an Existing Home
  • Purchase / Rehab Combo
  • Primary Residences Only
  • Tribal Grants Allowed
  • No Credit Score Minimums

Advantages of a Native American Home Loan

  • Low Down Payments
    • 2.25% on loans over $50,000
    • 1.25% on loans under $50,000.
  • Approval not based on credit scores
  • Manual Underwriting All Loans
  • Upfront & Monthly Mortgage Insurance
  • Adjustable Rate Mortgages Not Allowed
  • Tribal Grants Allowed
Home Purchase
Save Today
Have Questions?
Native American Home Loan Benefits

How to Use a Native American Home Loan

  • Purchase an Existing Home
  • Construction of a New Home
    • (Site Built or Manufactured)
  • Rehab an Existing Home
  • Purchase / Rehab Combo
  • Primary Residences Only
  • Tribal Grants Allowed
  • No Credit Score Minimums

Advantages of a Native American Home Loan

  • Low Down Payments
    • 2.25% on loans over $50,000
    • 1.25% on loans under $50,000.
  • Approval not based on credit scores
  • Manual Underwriting All Loans
  • Upfront & Monthly Mortgage Insurance
  • Adjustable Rate Mortgages Not Allowed
  • Tribal Grants Allowed
Home Purchase
Save Today
Have Questions?

Not Sure? Take a Look at Other Corpus Christi Mortgage Products

Corpus Christi Native American Mortgage Team

brad Rund

director native lending &
Manufactured Housing

Dale Gremillion

Manager
NMLS 210325

Conor Hayhurst

Manager
NMLS 743506

Kathy Rubin

Sr Loan Officer
NMLS 204449

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