Loan Products Offered by 1st Tribal Lending

1st Tribal Lending offers mortgages to Native Americans under Section 184 of the Indian Home Loan Guarantee Program. This program is to help American Indians, Native Alaskans and Alaskan tribes including their designated housing groups and Alaskan villages obtain home loans. A loan under Section 184 can be used to purchase a home, as a construction loan, to remodel and/or update a home, and/or to refinance a home. Native Americans can now get the capital and funding to qualify for different housing programs.

Home loans from 1st Tribal Lending, under Section 184 may only be used by a Native American to buy a home if the state where the home is located participates in the program. This program is not available for investment or rental properties, only owner occupied homes. These loans are available to refinance a home, whether you want to cash out, streamline or obtain standard refinancing. Section 184 is available if you need to finance construction. You can use the loan to build your home from scratch, whether it’s a stick-built, manufactured or modular home.

Qualifying for a Home Loan From 1st Tribal Lending

There are certain requirements to qualify for a Section 184 loan through 1st Tribal Lending. For the process to go through smoothly these documentats should be submitted ahead of time:

Documents Required for Purchasing a Home

  • Bank statements going back 3 months
  • Copies of recent paystubs or pay slips
  • Copies of most recent paychecks 
  • Copy of Social Security Card
  • Landlord’s information for rental verification
  • Proof of tribal enrollment
  • Purchase agreement for home
  • W2s and/or 1099s and tax returns for last 2 years

Documents Required for Refinancing a Home

  • Copy of most recent mortgage 
  • Copy of Social Security card
  • Proof of tribal enrollment
  • Additional Requirements Needed for Standard Refinancing
  • Bank statements going back 3 months
  • Copies of recent paystubs or pay slips
  • Copies of most recent paychecks 
  • W2s and/or 1099s and tax returns for last 2 years

Documents Required for Construction Loan

  • Bank statements going back 3 months
  • Building contract must be with licensed general contractor
  • Copies of recent paystubs or pay slips
  • Copies of most recent paychecks 
  • Copy of Social Security Card
  • Deposit on cost of new appraisal
  • Itemized budget for all planned construction  
  • Landlord’s information for rental verification
  • Plans for the construction project
  • Proof of tribal enrollment
  • Purchase agreement for home
  • W2s and/or 1099s and tax returns for last 2 years 

Home loans from 1st Tribal Lending can be accessed on the official website www.1tribal.com. Those wanting to apply with 1st Tribal Lending for a Section 184 loan may visit official site to see if they prequalify. These loans have low down payments, from 1.25% to 2.25%. Regular 30-year fixed rate home loans are also allowed. The lender guarantees there are no hidden terms or fees, that mortgage insurance is at a low monthly fee and to provide other features as long as the borrower is an enrolled member of a tribe recognized by the federal government under this program and meets all requirements. 

 

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