Southern Ute Indian Tribe Housing Department DPA

Southern Ute Indian Tribe Housing Department DPA is a deferred second loan for homebuyers in Ignacio, Colorado. The Southern Ute Indian Tribe Housing Department provides DPA to tribal members for homeownership on and off reservation in southwestern Colorado. Compatible with HUD Section 184 Indian Home Loan Guarantee program. DPA for tribal members and eligible recipients. Section 184 compatible. assists tribal homeownership in SW Colorado. deferred repayment. Funding comes from Tribal and Federal.

Southern Ute Indian Tribe Housing Department DPA is deferred, so no payments are due until the home is sold, refinanced, or the first mortgage is paid off. Repayment is triggered by Sale, Refinance, and Maturity Date. The assistance is recorded in 2nd Lien position. Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

Southern Ute Indian Tribe Housing Department DPA is open to first-time homebuyers and homebuyers who will live in the home as their primary residence. "First-time homebuyer" usually means not having owned a home in the last three years, but the program sets its own definition. A homebuyer education course is required, through HUD-approved homebuyer education; tribal housing counseling. Residency requirement: State Resident. Citizenship or immigration status: U.S. Citizen or Permanent Resident. Tribal membership or eligibility required; purchase on or near Southern Ute lands; Section 184 loan compatibility.

Southern Ute Indian Tribe Housing Department DPA limits household income to 80% of the area median income, which varies by county and household size. Income at or below 80% AMI; tribal guidelines apply. The limit applies to total household income, not only the borrower’s. Area median income figures are published by HUD and updated annually, so check the current table for the county before relying on a number.

Southern Ute Indian Tribe Housing Department DPA can be used for Single Family, Condo, and Townhouse. New construction is eligible. Manufactured homes are not eligible.

Southern Ute Indian Tribe Housing Department DPA names American Indian and Alaska Native homebuyers among the groups it serves. Being named here means the program mentions the group, not that membership alone qualifies an applicant — the rest of the eligibility rules still apply.

Southern Ute Indian Tribe Housing Department DPA serves homebuyers purchasing in Ignacio, Colorado. The program targets specific areas: Southern Ute reservation and service area (La Plata, Archuleta counties).

Applications for Southern Ute Indian Tribe Housing Department DPA go through the administering agency, which publishes the current terms and the application steps on its own site. Funds are reserved through First-Come-First-Served. Hey Prescott is not a lender and does not accept applications; this page describes the program so a homebuyer can take it to a lender or housing counselor.