HUD Section 184 Indian Home Loan Guarantee Program (New Mexico)

What is HUD Section 184 Indian Home Loan Guarantee Program (New Mexico)?

HUD Section 184 Indian Home Loan Guarantee Program (New Mexico) is a first mortgage for homebuyers in New Mexico, administered by HUD Office of Native American Programs - Office of Loan Guarantee (via participating lenders).

• Section 184 is a HUD-guaranteed home mortgage product designed specifically for American Indian and Alaska Native families, tribes, and tribally designated housing entities. It offers a low down payment and flexible underwriting, and can be used both on and off native lands for purchase, new construction, rehabilitation, or refinance. New Mexico is an approved state, making it widely available to members of the state's many federally recognized pueblos and the Navajo Nation. Loans are limited to single-family (1-4 unit), 30-year fixed-rate financing.
• Low down payment for Native American homebuyers.
• Flexible underwriting.
• Usable on and off tribal/trust land.
• Available for purchase, new construction, rehab, or refinance.
• HUD loan guarantee.
• This is a federal program, so it is available beyond a single state or city.
• Funding comes from HUD federal loan guarantee (Housing and Community Development Act of 1992, Section 184).

Do you have to pay it back?

HUD Section 184 Indian Home Loan Guarantee Program (New Mexico) is a first mortgage and is repaid under the terms set by HUD Office of Native American Programs - Office of Loan Guarantee (via participating lenders).

• The assistance is recorded in First position.
• Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

Who qualifies?

HUD Section 184 Indian Home Loan Guarantee Program (New Mexico) is open to buyers who will live in the home as their primary residence.

What are the income limits?

HUD Section 184 Indian Home Loan Guarantee Program (New Mexico) sets its income limit as follows: No program income limit; loan amounts subject to maximum loan limits that vary by county.

• 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?

HUD Section 184 Indian Home Loan Guarantee Program (New Mexico) caps the purchase price as follows: Maximum loan limit varies by county (see HUD Section 184 loan limits).

• Eligible property types include Single Family and 2-4 Unit.
• New construction is eligible.

Is there eligibility for specific groups?

HUD Section 184 Indian Home Loan Guarantee Program (New Mexico) 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?

HUD Section 184 Indian Home Loan Guarantee Program (New Mexico) is a federal program, so it is not limited to New Mexico.

• The program gives priority to designated target areas, so the address matters as well as the county.

How do you apply?

Applications for HUD Section 184 Indian Home Loan Guarantee Program (New Mexico) go through HUD Office of Native American Programs - Office of Loan Guarantee (via participating lenders), which publishes the current terms and the application steps on its own site.

1. 1

   Contact HUD Office of Native American Programs - Office of Loan Guarantee (via participating lenders) to reserve funds

   Funds are reserved through Apply through a HUD-approved Section 184 participating lender; available year-round, 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.