Native Partnership for Housing Gap Financing (Second Mortgage)

What is Native Partnership for Housing Gap Financing (Second Mortgage)?

Native Partnership for Housing Gap Financing (Second Mortgage) is a second mortgage for homebuyers in Gallup, New Mexico, administered by Native Partnership for Housing, Inc. (NPH).

• Native Partnership for Housing (NPH), a Gallup-based Native community development lender and certified HUD Section 184 lender, offers a Gap Financing second-mortgage product for eligible Native American homebuyers whose purchase price exceeds Section 184 or other first-mortgage loan limits. The repayable second mortgage bridges the gap so the buyer can move forward with the purchase. NPH also provides homebuyer education, housing counseling, and down payment/closing-cost assistance.
• Bridges the gap above Section 184 or other loan limits.
• Pairs with Section 184 or NPH Internal Purchase Loan.
• Specialized in Native homeownership (on and off tribal lands).
• Homebuyer education and counseling included.
• Can be used for new construction, existing homes, or manufactured homes.
• Funding comes from Native Partnership for Housing, Inc. (CDFI / Native community development lender), subject to funding availability.

Do you have to pay it back?

Native Partnership for Housing Gap Financing (Second Mortgage) is a second mortgage and is repaid under the terms set by Native Partnership for Housing, Inc. (NPH).

• Repayment is triggered by Must be repaid (repayable second mortgage); fills the gap when a home's purchase price exceeds Section 184 or other program loan limits.
• The assistance is recorded in Second (subordinate to the primary mortgage) position.
• Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

Who qualifies?

Native Partnership for Housing Gap Financing (Second Mortgage) is open to buyers who will live in the home as their primary residence.

What are the income limits?

Native Partnership for Housing Gap Financing (Second Mortgage) sets its income limit as follows: Income/eligibility determined at application against NPH criteria; specific limits not published on the primary source.

• 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?

Native Partnership for Housing Gap Financing (Second Mortgage) caps the purchase price as follows: Designed for cases where the purchase price exceeds Section 184 or other program loan limits.

• Eligible property types include Single-family (1-4 units, primary residence), New construction (site-built or manufactured on permanent foundation), and Existing home.
• New construction is eligible.
• Manufactured homes are eligible.

Is there eligibility for specific groups?

Native Partnership for Housing Gap Financing (Second Mortgage) 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?

Native Partnership for Housing Gap Financing (Second Mortgage) serves buyers purchasing in Gallup, New Mexico.

How do you apply?

Applications for Native Partnership for Housing Gap Financing (Second Mortgage) go through Native Partnership for Housing, Inc. (NPH), which publishes the current terms and the application steps on its own site.

1. 1

   Take a homebuyer education course

   Required by the program, through Native Partnership for Housing homebuyer education (NPH is a HUD-approved housing counseling/education provider; eHomeAmerica/nph online course).

2. 2

   Contact Native Partnership for Housing, Inc. (NPH) to reserve funds

   Funds are reserved through Loan Application Intake Form submitted to NPH; subject to credit review and approval and meeting NPH criteria, and are subject to availability.

3. 3

   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.