Native Health News
News and Information for the Native American Community
3/26/08
Native American Homebuyers Presentation
It's called the "Native American Section 184 Loan Program," and it offers excellent home loans for Native American home buyers. The program is open to all Native Americans from a Federally Recognized Tribe (at least one borrower must be Native). Details of the loan program can be found below.
Native American Homebuyers Presentation
May 2, 2008, 10:00 a.m.
Oakland Clinic
First Floor Conference Room
On May 2, 2008, we will welcome back Jim Mahoney, a representative from Cascade Residential Mortgage, to give a presentation about the program. Mr. Mahoney is licensed to broker the Section 184 Native American Loan Program in California, Oregon and Washington. Come and learn about this remarkable program; this could be your path to home ownership.
Individual Pre-qualification Meetings After the Presentation
After the presentation, Jim will meet with interested individuals for a pre-qualification meeting. If you would like to meet with Jim, please contact Natalie Aguilera by Friday, April 11. Individual meetings will last 15 to 20 minutes.
Program Features and Benefits
- Only one loan, fixed rate, 30 YEAR ONLY. (no need for second mortgage)
- No Mortgage insurance required
- Minimal down payment, only 2.25 percent vs. typical 20 percent on conventional loans
- Credit challenged borrowers are still eligible for the program
- Only need one Native American on the loan (ok to have 2 borrowers)
- Save over $2,000 in closing costs. Fees that are waived include application fee, processing fee, bank underwriting fee.
- Cash out refinances up to 85% of current appraised value
- All properties must be owner occupied, no investment properties are allowed
- Land does not have to be on a Reservation!
- All of Oregon, Washington and California are eligible
- Great interest rates, even if you have credit challenges
For more information...
For more information, and to sign up for an individual pre-qualification conference, please contact Natalie Aguilera, Human Resources Manager
Native American Health Center
3124 International Blvd.
Oakland, CA 94601
510.747.3035 nataliea@nativehealth.org
