Home Loans for Native Americans
No hidden fees, reduced expenses, great rates...and a 100% tribally-owned bank that understands your needs. Our dedicated professionals are experts in the HUD 184 Home Loan Program for Native Americans. Together, we'll get you the keys to your dream house.
Federally-backed Section 184 loans are available for purchase, refinance, new construction, and renovation. Regardless of where you live, you can use the nation's leading Native American Home Lender—Bank2, in the heart of Indian Country!
Don't hesitate to ask us about Home Loans for Native Americans!
HUD 184 Native American Loans
- Exclusive to American Indians, Native Alaskans, Native Hawaiians and Federally Recognized Tribes
- Low down payment
- Allows for easier financing
- Competitive interest rates
- No monthly mortgage insurance required
- No hidden fees
- Home can be on or off native lands
- Local decision-making
- Personal service at every step
Bank2 has created these additional resources to keep you informed and help you make the best decision for you and your family.
Indian Home Loan Guarantee Program (Section 184) Frequently Asked Questions
Q. Who is eligible for the program?
A. American Indians and Alaskan Natives who are members of federally recognized tribes. You must have a Tribal Membership Card. Also, Native American Tribes, Tribal Housing Authorities and Tribally Designated Housing Entities are eligible.
Q. What types of financing are eligible?
A. The program can be used for the purchase of a new or existing home or refinancing.
Q. Is there a minimum credit score requirement for qualifying?
A. There is not a credit score requirement. However, your overall credit will be reviewed by an underwriter to determine eligibility. Generally, the most recent 12 months are most important. All accounts should reflect an on-time pay history for the last 12 months.
Q. What if I have filed bankruptcy?
A. HUD requires 3 years to have passed since the discharge of your bankruptcy. You should not have any late payments on your credit report since the bankruptcy.
Q. What about outstanding collection accounts or charged off accounts?
A. All collection accounts must be paid off prior to loan submission. This includes medical collections. Accounts that are charged off but still reflect a balance owed must also be paid off.
Q. What is the minimum down payment for the hud 184 program?
A. 2.25% of the purchase price on loan amounts over $50,000. For loan amounts under $50,000 the minimum required down payment is 1.25%.
Q. Can the down payment be a gift?
A. Yes. The down payment can be gifted from a relative, employer or an approved non-profit organization. Down payments can also be granted from tribal housing programs.
Q. How can I find out about tribal down payment assistance?
A. Since each tribe has different programs and procedures, we encourage you to contact your tribal housing office directly to find out what programs they might have available.
Q. Do I have to pay Private Mortgage Insurance (PMI)?
A. No. There is no monthly PMI required for this loan. There is a 1% funding fee paid to HUD. This fee is financed and included as part of the loan. This fee is less than the fee charged for other government programs such as VA, FHA and Rural Development loans.
Q. Where can I use the hud 184 loan program?
A. HUD has identified many states in their entirety as "Indian Operating Areas." Within these states, there is no restriction as to where the program can be used. In other states, the program is restricted to counties that are identified as being within an Indian Operating Area. These eligible lending areas are constantly being updated. For more information please contact our office.
Q. What types of homes are acceptable?
A. The program allows for regular home as well as modular and manufactured homes.