Alaska Native Home Loan Guarantee Program (184)

Posted by Jackie Toppin
January 12, 2010

What is a Section 184 HUD loan?

The Section 184 Indian Home Loan Guarantee Program is a mortgage product for American Indian and Alaska Native families, tribes Alaska Villages or tribally designated housing entities. Congress established this program in 1992 to facilitate homeownership in Native American communities.

Benefits to Homebuyer

2.25% down payment requirement for loans over $50,000;
1.25% downpayment requirement for loan under $50,000;
No monthly mortgage insurance
A one-time, 1% loan guarantee fee that can be added to your financed loan

 

Who is Eligible for a Section 184 Loan?

American Indians or Alaska Natives who are enrolled members of a federally recognized tribe
A member of an Alaska Village and Regional Corporation established pursuant to the Alaska Native Claims Settlement Act
An Indian tribe
A Tribally Designated Housing Entity (TDHE)
An Indian Housing Authority (IHA)

How can I find out if I am eligible?

Simply complete the “Am I Eligible Form“,  and we will let you know!!

 

Jackie Toppin
Mortgage Banker
Mortgage License #100110
Preferred Mortgage
Branch of Residential Mortgage
Mortgage License #100083
3111 “C” Street, Suite 325
Anchorage, AK, 99503
Work: 907-261-7655
Fax: 907-261-7543
Taking The Time, Making A Difference
Visit MyBlogLog and get a signature like this!
FHA Mortgage

If you enjoyed this post, please consider subscribing to our FHA Mortgage Loan Blog feed and get future articles delivered to your feed reader. You can also share this article using the 'Share This' tool below.

Comments

No comments yet.

Sorry, the comment form is closed at this time.