HUD-Guaranteed Section 184 Native American Mortgages
To better serve the needs of Native American, Alaskan Native and New Mexican Pueblo home buyers, we now offer Section 184 Native American Mortgages guaranteed by HUD. Mac purchases these mortgages from lenders that have obtained Freddie Mac approval.
Section 184 Native American Mortgages may be secured by 1-to 4-unit primary residences that may be either owner-occupied or leasehold estates located on both fee simple and restricted lands. These mortgages must be sold to Freddie Mac with recourse through the Fixed-rate Guarantor, Fixed-rate Cash, or MultiLender Swap sale options available in Loan Selling Advisor®.
Use Section 184 Native American Mortgages to offer mortgages to Native Americans on property with unique title situations, meet Community Reinvestment Act (CRA) goals, where applicable and increase homeownership opportunities in a traditionally underserved market.
Who are HUD-Guaranteed Section 184 Native American Mortgages for?
- Native American, Alaskan Native and New Mexican Pueblo homebuyers.
- Borrowers who need to finance closing costs.
- People looking for flexible options for funding a down payment, closing costs and prepaids, with no reserve requirements.
The information on this page is not part of, and is not a replacement or substitute for, the requirements found in the Freddie Mac Single-Family Seller/Servicer Guide and your other Purchase Documents.
Product Features
- Credit Fees
- Credit Fees in Price may apply based on the individual characteristics of the mortgage. See Guide Exhibit 19 for details on applicable fees.
- The Investment Property Mortgage Credit Fee in Price indicated in Guide Exhibit 19 will not be assessed if the borrower is a Tribally Designated Housing Entity, an Indian Housing Authority, or an Indian Tribe.
- The CS/LTV fee will not be assessed for all mortgages delivered as Section 184 Native American Mortgages.
- Delivery Requirements
See Guide Chapter 6302.13 for special delivery instructions for all HUD Guaranteed Section 184 Native American Mortgages.
- Eligibility/Underwriting
- Non-Loan Product Advisor only
- Mortgage insurance per Section 184 Regulations
- Mortgages must be sold to Freddie Mac with recourse within the requirements of Guide Section 6201.7(a)
- Underwriting requirements are based on HUD requirements and take into consideration the unique needs of Native American borrowers. See HUD regulations for more information
- Eligible Mortgage Products
- 15-, 20-, and 30-year fixed-rate mortgages
- First lien
- Assumable
- Mortgages must not be seasoned mortgages
- Maximum loan amount may not exceed lesser of Freddie Mac loan limits or any HUD Section 184 Regulation loan limits
- Mortgages may not be originated in connection with other FHA/VA programs, such as Section 203(k) of the National Housing Act
- Execution Options
- Fixed-Rate Cash
- Fixed-Rate Guarantor
- MultiLender Swap
- Maximum LTV Ratios
Each Section 184 Native American Mortgage must comply with Guide LTV/TLTV ratio requirements, unless the applicable Section 184 Regulations are more restrictive
- Property Type/Eligible Properties
- 1- to 4-unit primary residences, including condominiums, planned unit developments (PUDs) and manufactured homes (in accordance with HUD requirements)
- Manufactured homes in accordance with requirements in the Single-Family Seller/Servicer Guide (Guide)
- Construction or rehabilitation must be completed before the mortgage is sold
- Properties located on:
- Alaskan Native lands
- Native American trust, allotted trust and unrestricted lands
- Tribal fee status land for New Mexican Pueblos
- Rancheros in California
Note: Owner-occupancy is not a requirement for Tribally Designated Housing Entities, Indian Housing Authorities, or Indian Tribes.
- 1- to 4-unit primary residences, including condominiums, planned unit developments (PUDs) and manufactured homes (in accordance with HUD requirements)
- Transaction Type
Purchase transaction only
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