HUD 184

Is HUD 184 For You?

What Is The HUD 184?

The HUD 184 Indian Home Loan Guarantee Program is a home mortgage product specifically designed for American Indian and Alaska Native families, Alaska villages, tribes, or tribally designated housing entities. Congress established this program in 1992 to facilitate homeownership and increase access to capital in Native American Communities.

Why Choose Us?

Here at Cook Inlet Lending Center we are dedicated to providing you or your tribal entity the HUD 184 loan product. We’ve made it our mission to provide you with an easy and efficient experience. When looking for financing for a home in Alaska, whether as an individual or tribal entity, consider a lender that is a part of Native American families and communities.

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Did You Know?

Your Tribe or Tribally Designated Housing Entity can take advantage of the HUD 184 loan for the following:

  • To develop rental housing or to build single family (1-4 units) homes that are subsequently sold (or assumed) by their members or eligible borrowers
  • Develop a project of up to 20 units at a time to serve the housing needs of your tribe and members
  • Purchase and rehab homes to either rent, lease to own, sell or whatever suits the needs of your tribe and members

Highlights

  • No income limits
  • 2.25% Down Payment
  • Competitive rates
  • Fixed Origination fee of $895
  • Flexible underwriting and in house processing
  • Available everywhere in the state of Alaska including tribal trust, individual allotted trust or fee simple land.
  • No limits on gifts to the borrower for down payment or other loan costs
  • Single family home up to four unit properties

Key Points

  • Be a member of a federally recognized tribe. See list of federally recognized tribes
  • Low monthly mortgage insurance
  • 30 or 15 year fixed mortgage
  • Rate and Term refinance
  • Cash out refinance with max financing of 85%
  • 1.5% Guarantee fee financed into the loan.
  • Knowledgeable staff. Our staff understands the Alaskan way of life. Having seasonal or contract careers and becoming master budgeters are the norm for most of our people and community.
  • No minimum credit score requirement although credit will be reviewed within the past 2 years to show few to no collections, judgments, bankruptcy, late payments or delinquencies.

Qualification Documents

  • Tribal card or letter from your corporation/tribe
  • Most recent 2 years tax returns with all pages
  • Most recent 2 years W-2’s and/or 1099’s
  • One month of pay stubs and/or award statements for retirement income
  • Two months complete bank statements with all pages
  • Two complete years of residence address
  • Amount paid in rent
  • Landlord’s name, address, and phone number to verify rental history
  • Most recent two years of employment history including the following: Employer Name, Address. Phone and Contact person.
  • SSA Card
  • Photo ID

What Can The HUD 184 Loan Be Used For?

Purchase A Home
Refinance Your Home
New Construction Loan
Renovation Loan

CILC is temporarily not accepting online applications for HUD 184 and its First Mortgage Lending Program until further notice.  We have additional resources which may assist you with a down payment or closing costs when applying for a mortgage.  In order to make sure we are providing you the best service around your loan inquiry, please reach out to Deborah Donahue at 907.830.3418 or Renate Houser at 907.793.3725. You can also email us at info@cookinletlending.com or call 907.793.3058. Thank you for your inquiry and we look forward to the opportunity to serve you.