Financing

Indian Home Loan Guarantee Program (Section 184)

The Section 184 Indian Home Loan Guarantee Program is a mortgage product specifically for American Indian and Alaska Native families, tribes, Alaska Villages or tribally designated housing entities. Congress established this program in 1992 to facilitate homeownership in Native American communities.

http://www.hud.gov/offices/pih/ih/homeownership/184/

Low Income Housing Tax Credit Program

The Low Income Housing Tax Credit Program and the New Markets Tax Credit Program provide capital from private investors to help you leverage your precious NAHASDA funds and realize your overall economic development goals.

If you plan to build or rehabilitate housing units, the tax credit program can provide financing for four times as many homes as NAHASDA funds alone. For example, a tribe can build 10 new three- or four-bedroom houses for about $1.2 million using NAHASDA funds. Under the tax credit program, you could build 40 units using the same amount of NAHASDA funds. If your tribe is in a Qualified Census Tract (QCT), and most tribes are, you could build 60 or more units with the tax credit program for the same $1.2 million in NAHASDA funds.

New Markets Tax Credit program

If you, or entrepreneurs in your community, plan to start businesses or undertake economic development projects, the New Markets Tax Credit program can provide 25 to 30 percent of the funds you need. The New Markets Tax Credit leverages financing with greatly decreased interest rates and significantly more flexible terms than are available in the current market. It can be used to finance the construction, expansion or operation of facilities for commercial, industrial, health care or community development uses.