Have you heard of the Section 184 Indian Housing Loan Guarantee Program?

By Corcoran Perry & Co
Posted Monday, Sep 24, 2012

Have you heard of the Section 184 Indian Housing Loan Guarantee Program? The program was designed to offer home-ownership and rehabilitation opportunities for eligible Native American individuals, families, Tribes and Tribally Designated Housing Entities (including Indian Housing Authorities) on their native lands and within an approved Indian area as defined in HUD. It is one of the best mortgage products out there and the best part is that it applies to all homes in Colorado.

I spoke with a lender recently, Todd McManigal, who specializes in this program and he raved about all the benefits it provides. Looking over the highlights below, I see why. It is near impossible to find a loan with this low of down payment, no mortgage insurance and no maximum income limits. If you or someone you know might be interested in this loan, let Todd or I know, his information is below. And for the full details about the program, click here.

Section 184 Highlights

- Loan Amounts up to $462,555
- Low Down payment (2.25%)
- No Monthly Mortgage Insurance
- No maximum income limits
- Refinancing available
- New construction
- Seller may pay up to 6% of purchaser's closing costs
- Credit scores as low as 580 may qualify

Todd McManigal
New Mexico Area Loan Originator
Sun West Mortgage Company, Inc.
* | todd.mcmanigal@swmc.com
( | (866) 415-7867
' | (505) 918-1028

7 | (866) 559-7995