The HUD Section 184 Native American Indian Home Loan Guarantee program is an exclusive low down payment no mortgage insurance mortgage program for California Native American Indian Entities, Families, Native Alaskans, Native Hawaiians, and Federally Recognized enrolled Tribal Members.
Congress established the HUD Section 184 Native American Home Loan program in 1992 to faciliate home ownership and access to capital to the underserved Native American Communities. As of 2014, the HUD Section 184 loan has Guaranteed over 24,000 loans. See map of loans Guaranteed by state in Indian Country.
The HUD 184 loan can be used to purchase, new construction, rate and term refinance, debt consolidation, or cash out refinancing.
Section 184 Program Highlights
- Down payment requirement of 2.25% (max 97.75% LTV)
- No PMI monthly mortgage insurance
- 1.5% one time up-front guarantee fee (financed into the loan)
- No maximum income limits
- Minimum credit score of 600
- Owner Occupied Primary Residence Only
- Gift funds from family or tribe assistance allowed
- Manual underwriting allows for common sense loan approvals
- Qualifying and interest rates are not driven by applicant’s credit scores
- Homebuyer education NOT required
- No reserves required
- Must be in an approved Indian operating area (39 states)
- Borrower must be a curently enrolled member of a Federally Recognized tribe. The BIA has the most up to date Tribal Directory or search here.
- Borrower can only have one Section 184 loan out at a time
– Pechanga Band of Luiseno Mission Indians
– Soboba Band of Luiseno Indians
– Santa Ysabel Band of Dieguno Indians
– Pala Band of Mission Indians
– Pauma Band of Luiseno Mission Indians
– Rincon Band of Luiseno Mission Indians
– Morongo Band of Mission Indians
– Mesa grande band of Mission Indians
– Barona Group of Capitan Grande Band of Mission Indians
– Cabazon Band of Cahuilla Mission Indians
– Cahuilla Band of Mission Indians
– Ramona Band of Cahuilla
– Santa Rosa Band of Cahuilla Indians
– Agua Caliente Band of cahuilla Indians
– La Jolla Band of Mission Indians
– Sycuan Band of the Kumeyaay Nation
– San Manuel Band of Mission Indians
– Santa Ynez Band of Chumash Misison Indians
- 1-4 unit Single Family Residence (SFR)
- HUD approved condo’s
- Manufactured homes
- Property must be located in a Section 184 eligible state & area
Section 184 Loan Terms
- 15 or 30 Year Fixed
- Rate & Term Refinance
- Cash Out Refinance
- New Construction
- Max 41% DTI ratio
- Seller can contribute up to 6% seller concessions
Section 184 Loan Limits
- Maximum loan limit is 150% of the HUD median home price for the county or max $417,000. Click here to see Section 184 county loan limits by state.
Section 184 Approved Lenders in California
Mountian West Financial is an approved Section 184 Native American Indian lender in Calfornia, and provides Section 184 Native American Indian home financing throughout all of California and the many tribes in Riverside County, San Bernardino County and San Diego County.
How to Apply for HUD Section 184 Home Loan
Eligible borrowers must apply and work with an approved Section 184 Lender and Loan Originator (like myself) that knows how to process this unique loan program. Contact Brad at (951) 215-6119 or here.