Government-backed loans.

HUD 184 loans are backed by the U.S. government, and are available for new construction, rehabilitation/renovation, refinancing, and purchase of existing homes.

The borrower applies for the loan with a participating lender. If leasing tribal land, they work with the tribe and the Bureau of Indian Affairs. The lender then evaluates the necessary loan documentation and submits the loan for approval to the HUD Office of Loan Guarantee.

Once the loan is approved, the borrower pays a 1% loan guarantee fee at closing, which may be financed in the mortgage or paid in cash, and any other standard closing costs. There are no mortgage insurance premiums or hidden fees.

HUD guarantees each mortgage loan made to eligible borrowers. This guarantee assures that the investment will be repaid in the event of a foreclosure, and significantly reduces the risk to the lender.

Who is eligible.

Eligibility for HUD 184 loans includes:

• American Indians or Alaska Natives who are members of a federally recognized tribe
• Members of an Alaska Village and Regional Corporation (established pursuant to the Alaska Native Claims Settlement Act)
• An Indian tribe
• A Tribally Designated Housing Entity (TDHE)
• An Indian Housing Authority (IHA)

The HUD 184 specialists.

Because the HUD 184 Program is very different from conventional mortgage loans, most large banks and mortgage lenders do not understand how it works.

At Bank2, we specialize in HUD 184 loans. We understand the unique criteria required to qualify for a HUD 184 loan, and we know how to navigate the ins and outs of the HUD 184 loan process. We also know how to work with the different outside agencies that sometimes get involved, so that you don’t get lost in the shuffle.

If you’ve been turned down by conventional banks or mortgage lenders, come to Bank2. Through the HUD 184 Program, we’ll help you qualify for the right mortgage loan that will enable you to purchase the home of your dreams.

To get started on your HUD 184 loan application, click here.