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Native American Housing Program

Housing and Urban Development (HUD) 184 NATIVE AMERICAN HOUSING PROGRAM

Brief Description: HUD Section 184 Indian Housing Loan Guarantee Program is designed to offer homeownership, property rehabilitation, and new construction opportunities for eligible Native American individuals or families who want to own a home. Montana Board of Housing partners with HUD, who administers the program, to provide affordable mortgage rates for HUD 184 insured loans.

MBOH Guidelines for HUD 184 loans:

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Borrower Eligibility Criteria:
Income limits

First-time homebuyer(s); waived for targeted area.

Home must be primary residence for the life of the loan.

Must be a member of a federally-recognized tribe.

No asset limitations.


Property Criteria:
Single family home, townhouse, detitled manufactured home on permanent foundation or condo unit (MBOH will purchase loans on up to 25% of units in a project).

Purchase Price Limit

Limit of 15% for business use.

Land limited to 35% of value of property on new construction that has private water or sewer.

Maximum parcel size of 40 acres, with no subdivision of land possible.

Must meet applicable building code and have infrastructure.

Must have tribal approval if on lease or tribal trust lands; BIA if allotment; fee simple is allowed.


Loan Criteria:

30-year fixed rate loan, with no origination or discount points charged at closing.

IRS recapture potential.

New construction or existing home.

Hazard insurance $1,000 deductible all peril; escrow for tax and insurance.

Tribe must have approved legal procedures for evictions, priority of lien, leasing, and foreclosure.


Underwriting Criteria:
Per HUD 184 guidelines (click here ).

LTV cannot exceed 97.75 or 98.75 of appraised value.


Down payment Sources:
Tribal resources or approved HUD source.

MBOH pays a portion of closing costs on behalf of borrower.

Mortgage Insurance Information:
Requires HUD 184 coverage.


Loan Information:
If done at the Set-aside rate, higher income limits are available for households of 9 or more people, and MBOH pays lender origination fees for the borrow.

If done as a regular bond loan, MBOH regulates points and fees that can be charged. Consult Board staff with any questions.

Reservations valid 60 days for existing homes or 180 days for new construction.

0.25% fee charged for extensions, 0.50% for cancellation.


Reservation Process:


Input on Lender On Line web based reservation system
Fax Borrow Stat Sheet and Homebuyer Education Certificate


Fax reservation to MBOH including:
Reservation cover sheet and required documentation listed


Special Reservation Criteria
Must submit HUD 184 approval documentation to MBOH before reservation can be approved.

This is a summary of the MBOH program only. For a complete copy of the terms and conditions see Mortgage Purchase and Servicing Guide or Terms and Conditions for Whole Loans (June 2, 2014).

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