Capital Home Mortgage Odessa

Odessa Native American Home Loans

Odessa Native American Mortgage Lender

Odessa Native American Loans

The United States Department of Housing and Urban Development (HUD) provides various mortgage assistance programs. These programs are intended to assist people experiencing various difficulties when purchasing a home. Section 184 is a HUD program designed to provide special mortgage loan assistance to Native American/American Indian and Alaskan tribe members. This program is formally known as the Indian Home Loan Guarantee program but is more commonly called “Section 184 Loans.”

Why Was The Section 184 Loan Created?

The Housing and Community Development Act of 1992 established Section 184 to address the lack of mortgages for Native Americans. American Indians and members of Alaskan tribes face unique challenges that make homeownership harder. For example, much of the land on which Native Americans live is held in trust — either a tribal or an allotted trust. Lands held in trust for a tribe cannot be mortgaged under the law.

Even with individual land, BIA and HUD must approve a mortgage loan application on that land. For Native Americans hoping to buy a home, these obstacles can make the process long and complicated.

Section 184 loans are mortgages with preferential terms reserved for members of specific tribes across the country. These tribes include American Indian and Alaska Native families and members of certain Alaska Villages, Tribes, or Tribally Designated Housing Entities. Through this initiative, the federal government intends to improve the economic security of Native American communities and the value of Native American assets.

Who Is Eligible for a Section 184 Loan?

A Section 184 mortgage loan can only be obtained by American Indians and Alaska Natives who are enrolled members of federally recognized tribes. The Section 184 loan application process includes verification of tribal membership, which is determined solely by individual tribal governments and is typically confirmed through the presentation of a membership card or letter. 

The Benefits of Section 184 Loans

While numerous loan options are available to homebuyers, Section 184 loans provide plenty of excellent advantages. Remember that you can use these loans for any residential real estate purpose, including buying an existing property, building a new one, repairing an existing one, buying a property and then fixing it up, or refinancing it. Other benefits of Section 184 loans are as follows:

  • Low upfront and monthly mortgage insurance premiums
  • No income restrictions for applicants
  • No minimum credit score is required to apply
  • No prepayment penalties
  • Low down payment: 2.25% on loans of $50,000 or more and only 1.25% on loans of less than $50,000.
  • Low-interest rates
  • The interest rate is based on market rates, not the applicant’s credit score.
  • Manual underwriting and approval
  • Borrow for up to 30 years at a fixed rate

No Fuss Section 184 Home Loan Application

Capital Home Mortgage is here to assist potential homebuyers in obtaining a Section 184 loan in Odessa and throughout Texas. We have helped many native Americans achieve their dream of becoming a homeowner, and you can be next!

Whether you’re a first-time homebuyer or someone who has purchased multiple homes, you are welcome to get pre-qualified for 184 loans. However, the maximum loan amount differs for every county and property type. 

Call us at (432) 218-4828 if you are ready to apply for a HUD Section 184 loan.

Why Odessa 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

Odessa 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

Odessa 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

Odessa 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
Texas Mortgage Programs

Texas Home Purchase

Thinking of Buying a Texas 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

Texas renovation home loans

Looking to Rehab a Texas 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

Texas FHA Home Loans

Great for 1st Time Texas 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

Texas VA Home Loans

100% Financing for Texas 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

Texas Conventional Home Loans

Flexibility for Texas 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

Texas Jumbo Home Loans

Texas 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

Texas USDA Home Loans

100% Rural Texas 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

Texas Native American Home Loans

Texas 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

Texas Manufactured Home Loans

Great Alternative Texas Housing

Texas reverse mortgages

Your Texas 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

Texas Non QM Home Loans

Making Texas 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

Texas One Time Close mortgages

Build Your Texas 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

Texas Refinance Mortgage Loans

Texas 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

Texas Cash-out Home mortgages

Texas 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

Odessa Texas Native American Mortgage Team

Dale Gremillion

Sr Loan Officer
NMLS #210325

Conor Hayhurst

Branch Manager
NMLS #743506

Shawna Johnson

Manu / Reno / OTC
NMLS #1631859

Brad Rund

Business Dev Manager
NMLS #224674

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