Phone: (877) 409-2265
Bank2 is pleased that as a 100% tribally-owned bank, we can offer our customers the personal touch they are looking for in a home loan. We offer dedicated professionals that know and understand the HUD-184 Home Loan program for Native Americans. We are the Nation's Leading Native American Home Lender and as such take care to offer each member of Indian Country the best services and programs around the country.
Regardless of where you live, we have the services and technology to offer you the best mortgage experience you've ever had throughout the nation.
HUD-184 Native American Loan Program
HUD 184 loans are backed by the U.S. government, and are available for new construction, rehabilitation/renovation, refinancing, and purchase of existing homes. These loans feature competitive rates and terms as well as no mortgage insurance or hidden fees.
To find out if this program fits your needs click the "Do I Qualify?" tab above.
Additional HUD 184 Resources
Why Choose the HUD 184 Home Loan Program
How to Do a One-Time Close Construction HUD Section 184 Indian Housing Loan
What You Need To Know About Home Loans on Reservation or Trust Land
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, refinancing or construction.
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 2 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?
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 this 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. Can the loan be used for properties on trust lands?
A. Yes. The program can be used for properties located on tribal trust land, individual allotted trust land or fee simple land.
Q. What types of homes are acceptable?
A. The program allows for regular stick built homes, modular and manufactured homes.
Additional HUD 184 Resources
Why Choose the HUD 184 Home Loan Program
How to Do a One-Time Close Construction HUD Section 184 Indian Housing Loan
What You Need To Know About Home Loans on Reservation or Trust Land
Bank2, Member FDIC, Equal Housing Lender