Discover the World of Homebuying Assistance for Native Americans

Buying a house is an uphill battle, and if there are ways to give you an edge, you should take them! Native Americans can benefit from a number of special government assistance programs that are specially set up for them. Some of these initiatives can help when it comes to buying a house, in specific the part that includes coming up with a down payment.

Jennifer Wilson, a real estate agent in Albuquerque who sells homes more than 45% quicker than the average agent in her area, says she works with approximately one buyer each year who uses a Native American-targeted government-sponsored loan program. Specifically, her clients go through the U.S. Department of Housing and Urban Development’s Section 184 loan program.

Wilson is happy to clue her eligible clients in on the Section 184 initiative. One reason she likes it is because the mortgage insurance premium is lower than both conventional and FHA loans. “And, of course, it’s a much lower down payment,” she adds. “It’s 2.25% versus 3% for conventional or 3.5% for FHA.”

If you think you might be able to take advantage of one of these Native American down payment assistance programs, it is also helpful to know how to apply. Here’s a guide to where to start looking and what you need to know.