Government Grants, Loans: Public and Indian Housing_Indian Loan Guarantee Program (Application Process)

Your FREE Online Guide to ALL U.S. Government Grant and Loan Programs for Housing!

Web	Housing.GrantGate.org


Individual / Family	Low Income	Back to Minority	Veterans

Back to Home Page

See AidPage for more information on:
Public and Indian Housing_Indian Loan Guarantee Program

Public and Indian Housing_Indian Loan Guarantee Program

Tell-a-Friend

APPLICATION AND AWARD PROCESS
	· Award Procedure
		The financial institution obtains and reviews all documentation and forwards it to HUD's Office of Native American Programs. HUD sends the Section 184 Loan Guarantee Firm Commitment Form to the Lender, if the mortgage meets the Section 184 Program underwriting criteria. The financial institution is responsible for assuring Tribal eligibility, land status, property acceptability and the creditworthiness of the loan applicant. HUD has responsibility for the approval or disapproval of the loan (the application for loan guarantee). Eligible lenders may originate loans under the Direct Guarantee Program. Direct Guarantee lenders underwrite, approve and close the loan prior to submission to HUD for the Loan Guarantee Certificate.
	· Preapplication Coordination
		A Tribe must develop eviction, foreclosure, and priority of lien procedures and adopt a residential mortgage lease acceptable to HUD and the BIA for any property on trust land within their jurisdiction to be eligible for this program. The loan applicant must find an existing property or a builder to construct a home. The proposed home site must be in an Indian area as defined in the statute. This program is excluded from coverage under E.O. 12372.
	· Application Procedure
		Applications are submitted to eligible financial institutions. With the loan application, the homebuyer must submit documentation such as pay stubs, W-2 forms (income tax returns if self-employed), evidence of assets such as bank accounts, and any other documentation requested by the lender to support the applicant's ability to obtain and repay the mortgage. The lender verifies the land status of the proposed property.
	· Deadlines
		None.
	· Range of Approval/Disapproval Time
		There are no specific time requirements for the processing of these loans.
	· Appeals
		Applicants whose loans are disapproved may appeal the disapproval if the applicant can provide additional documentation to resolve the issues which lead to the disapproval.
	· Renewals
		Not applicable.

Ask a question or post a comment...

See AidPage for more information on:
Public and Indian Housing_Indian Loan Guarantee Program

Federal Money Retriever® GrantGate®


Program Objectives
Financial Info
Uses, Restrictions
Eligibility
Funded Projects
Selecting Criteria
	Application Process
Matching, Phasing
Post Assistance
Regulations
Contact Info

Own a home?
Consolidate debt...
Refinance and save!

Grant search software.
Free for personal use.

Consolidate Your
Debt & Lower Your
Monthly Payments!

Individual / Family

Low Income

Back to
Minority

Veterans

Back to Home Page

Visit:	· RealEstate.GrantGate.org · Business.GrantGate.org · Health.GrantGate.org	Download Free Trial Grant Software!	^ Top of Page
Individuals, Low Income Persons, Minority and Veterans in need of Government Housing information ! Bookmark this page!

This site is a free service to the public by IDILOGIC - creators of Federal Money Retriever® and GrantGate®. "When it comes to looking for government grant money... Federal Money Retriever is the best of the best." —The Wall Street Journal
Copyright © 1994-2006 IDILOGIC Your Privacy

Click here if you're looking for student financial aid, scholarships, fellowships, federal government grants, and other types of college assistance for students.