Saginaw Chippewa Indian Tribe Section 184 Indian Home Loan Program

What is Saginaw Chippewa Indian Tribe Section 184 Indian Home Loan Program?

Saginaw Chippewa Indian Tribe Section 184 Indian Home Loan Program is a first mortgage for homebuyers in Mount Pleasant, Michigan, administered by Saginaw Chippewa Housing Department (HUD Section 184 Office of Loan Guarantee).

• The Saginaw Chippewa Housing Department facilitates HUD's Section 184 Indian Home Loan Program for enrolled members of federally recognized tribes, providing a low-down-payment, HUD-guaranteed mortgage. Borrowers work with a participating lender (and the tribe and BIA when leasing tribal trust land), and HUD's Office of Loan Guarantee guarantees the loan. Down payments are as low as 1.25%-2.25% and interest rates are set by market, not credit score.
• Low down payment (1.25%-2.25%).
• Market interest rates not based on credit score.
• One-time 1.5% financeable guarantee fee.
• Available on fee-simple and tribal trust land.
• Predatory-lending fee protections.
• This is a federal program, so it is available beyond a single state or city.
• Funding comes from HUD Office of Native American Programs, Office of Loan Guarantee (Section 184).

Do you have to pay it back?

Saginaw Chippewa Indian Tribe Section 184 Indian Home Loan Program is a first mortgage and is repaid under the terms set by Saginaw Chippewa Housing Department (HUD Section 184 Office of Loan Guarantee).

• Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

Who qualifies?

Saginaw Chippewa Indian Tribe Section 184 Indian Home Loan Program is open to buyers who will live in the home as their primary residence.

What are the income limits?

Saginaw Chippewa Indian Tribe Section 184 Indian Home Loan Program sets its income limit as follows: No published program income cap on the tribal page; standard HUD Section 184 underwriting applies (HUD income references).

• Area median income figures are published by HUD and updated annually, so check the current table for the county before relying on a number.

What kind of home can it be used for?

Saginaw Chippewa Indian Tribe Section 184 Indian Home Loan Program can be used for Single Family.

Is there eligibility for specific groups?

Saginaw Chippewa Indian Tribe Section 184 Indian Home Loan Program names American Indian and Alaska Native buyers 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.

Where does it apply?

Saginaw Chippewa Indian Tribe Section 184 Indian Home Loan Program is a federal program, so it is not limited to Michigan.

How do you apply?

Applications for Saginaw Chippewa Indian Tribe Section 184 Indian Home Loan Program go through Saginaw Chippewa Housing Department (HUD Section 184 Office of Loan Guarantee), which publishes the current terms and the application steps on its own site.

1. 1

   Contact Saginaw Chippewa Housing Department (HUD Section 184 Office of Loan Guarantee) to reserve funds

   Funds are reserved with the provider and are subject to availability.

2. 2

   Work with a lender who handles the program

   Hey Prescott is not a lender and does not accept applications; this page describes the program so a buyer can take it to a lender or housing counselor.