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This program provides home ownership opportunities to Native Americans, Tribes, Tribally Designated Housing Entities (TDHEs), and Indian Housing Authorities on Indian land, through a guaranteed mortgage loan program available through private financial institutions.
In order to qualify for this benefit program, you must be a Native American/American Indian in the process of buying a home that will be your primary residence. You or your family member(s) must also be enrolled in a federally recognized American Indian tribe or Alaska Native village.
A list of the U.S. Department of Housing and Urban Development (HUD) approved 184 lenders for financing homes is available online:
http://portal.hud.gov/hudportal/HUD?src=/program_offices/public_indian_housing/ih/homeownership/184/borrowers
Fixed Rate Financing with market rate of interest. Length of Loan is 30 years or less. Payments are made monthly. The maximum loan amount is 150% of the Federal Housing Administration (FHA) lending limits for the area. There are no prepayment penalties.
| Max Loan Length | 30 Years or Less |
|---|---|
| Interest Rate | Market Rate of Interest |
| Max Loan Amount | 150% percent of the FHA lending Limits for the Area |
| Prepayment Penalties | None |