Loans for Members of Tribes in the USA

Recently we had a meeting with Jason Roberson who is the loan officer at Wells Fargo in our area who takes care of Native American Lending. He helps people get HUD Section 184 loans.  There are many participating Tribes that are eligible for these loans. However, not everyone knows about the loans. We who work with people in Real Estate need to be aware of these loans, especially in areas where we may be helping people who are members of one of the eligible Tribes.

The loan is great and has many advantages. For one thing, the interest rate is only 2.25%, and are based on market rates not on Credit Scores!  There is a hands on approach to underwriting and approval of the loans, and no monthly mortgage insurance payments to make. Section 184 loans cannot be used for Adjustable Rate Mortgages. These loans can also be restoration or rehab loans!

So if you, or someone you know, is currently an enrolled member of a Federally recognized Tribe I think you should check out this loan.  Verification of enrollment will be required.

You can contact Jason at 360-486-3657 for more information.