Section 184 – Native American Loans

Native American Home Loans

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Section 184 Loans

The Section 184 Indian Home Loan Guarantee Program is a home mortgage product specifically designed for American Indian and Alaska Native families, Alaska villages, tribes, or tribally designated housing entities. Congress established this program in 1992 to facilitate homeownership and increase access to capital in Native American Communities.

With Section 184 financing borrowers can get into a home with a low down payment and flexible underwriting. Section 184 loans can be used, both on and off native lands, for new construction, rehabilitation, purchase of an existing home, or refinance, but for single family homes (1-4 units) and primary residence only.

Who Is Eligible for a Section 184 Loan?

Not everyone can qualify for a HUD Section 184 loan. Tribal enrollment is verified when applying for a Section 184 loan. Enrollment is solely determined by individual tribal governments and is usually verified by either a membership card or a letter. Section 184 home loans are reserved for:

American Indians or Alaskan Natives who are enrolled members of their respective federally recognized tribes. Complete list as of 1/28/22.

  • Tribally Designated Housing Entities
  • Indian Housing Authorities

Licensed HUD Section 184 Home Loan Provider

We are here to assist potential homebuyers in obtaining a Section 184 loan. HUD 184 loans are made for prospective homebuyers in Oklahoma and other eligible areas throughout the U.S. These loans can be obtained by first-time homebuyers or those who have purchased multiple homes.

Loan limits will differ based on the county you reside in and the type of home you want to purchase. Check out a full breakdown of Section 184 loan limits by state and county.

The Benefits of Section 184 Loans

While there are many types of loans available to homebuyers, there are many benefits offered by Section 184 loans. Remember, you can use these loans to purchase a home, construct a new home, rehabilitate a home, buy and rehabilitate a home, or refinance a home. Other benefits of Section 184 loans include:

  • Low monthly and upfront mortgage insurance costs
  • No income limits for applications
  • No minimum credit score necessary to qualify
  • No prepayment penalties
  • Low down payment. 2.25% on loans over $50,000 and only 1.25% on loans under $50,000
  • Low interest rates based on market rates, not applicant’s credit scores
  • Manual underwriting and approval
  • Fixed-rate loans with terms of 30 years or less available

If you are ready to apply, start here.

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