HUD Section 184 Mortgages

HUD Section 184 Advantages

Section 184 loans offer many advantages including:

• Low down payment: 2.25 percent on loans of more than $50,000 and only 1.25 percent on loans of less than $50,000.
• Fixed interest rate available at market rates.
• A one-time 1.5 percent fee is paid by the borrower at closing and can be financed into the loan. In addition, loans with a loan to value of 78% percent or greater will be subject to an annual 0.25 percent mortgage insurance premium.

HUD Section 184 Eligibility

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. Other requirements include:

• Only single-family homes (with 1-4 units) are eligible for Section 184 program.
• Your loan must be a fixed-rate for 30 years or less.
• ARM loans are not eligible.

Get Pre-Qualified For A HUD Section 184 Mortgage

With flexible options, program expertise and superior service, we’ll work with you from application to close to ensure a smooth loan process and create a loan program that meets your financial needs and goals. Get started today.

To learn more or to apply for a home mortgage loan, submit an online
application, contact us or visit one of our branches in Oklahoma.