Mazaska Owecaso Otipi Financial Home Purchase Loan Program

What is Mazaska Owecaso Otipi Financial Home Purchase Loan Program?

Mazaska Owecaso Otipi Financial Home Purchase Loan Program is a first mortgage for homebuyers in Pine Ridge, South Dakota, administered by Mazaska Owecaso Otipi Financial, Inc.

• Mazaska Owecaso Otipi Financial is a Native CDFI founded in 2004 to create affordable housing opportunities on the Pine Ridge Indian Reservation for members of the Oglala Sioux Tribe and other federally recognized tribes. It offers housing loan products, one-on-one technical assistance, financial literacy classes, and a three-week homebuyer education course. Pairs with SDNHOC down payment assistance.
• Home Purchase Loan ($10,000-$150,000, up to 30-year term).
• Rehabilitation, Construction, and Credit Builder loans.
• Free homebuyer education and financial literacy classes.

How much assistance does it provide?

Mazaska Owecaso Otipi Financial Home Purchase Loan Program offers between $10,000 and $150,000 in assistance.

• Award tiers: Home Purchase Loan $10,000-$150,000 (up to 30 yrs); Rehabilitation $10,000-$40,000 (up to 15 yrs); Construction $25,000-$150,000; Credit Builder $500-$5,000 (up to 2 yrs).
• Amounts are the program's published maximums, not an offer — Mazaska Owecaso Otipi Financial, Inc. determines any individual award.

Do you have to pay it back?

Mazaska Owecaso Otipi Financial Home Purchase Loan Program is a first mortgage and is repaid under the terms set by Mazaska Owecaso Otipi Financial, Inc..

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

Who qualifies?

Mazaska Owecaso Otipi Financial Home Purchase Loan Program sets its eligibility rules through Mazaska Owecaso Otipi Financial, Inc., and does not restrict applicants to first-time buyers.

What are the income limits?

Mazaska Owecaso Otipi Financial Home Purchase Loan Program sets its income limit as follows: Income/eligibility terms referenced on the services page but specific limits not published online; intake form required.

• 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?

Mazaska Owecaso Otipi Financial Home Purchase Loan Program can be used for Single Family.

• New construction is eligible.

Is there eligibility for specific groups?

Mazaska Owecaso Otipi Financial Home Purchase Loan Program names veterans and 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?

Mazaska Owecaso Otipi Financial Home Purchase Loan Program serves buyers purchasing in Pine Ridge, South Dakota.

How do you apply?

Applications for Mazaska Owecaso Otipi Financial Home Purchase Loan Program go through Mazaska Owecaso Otipi Financial, Inc., 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 Mazaska, with partners Oglala Sioux Tribe Partnership for Housing, Lakota Funds, and Thunder Valley..

2. 2

   Contact Mazaska Owecaso Otipi Financial, Inc. to reserve funds

   Funds are reserved with the provider 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.