Native Health News
News and Information for the Native American Community
3rd Annual Native American Home Mortgage Seminar
3rd Annual Native American Home Mortgage Seminar
Friday April 17, 2009 10:00am - 11:00am
Native American Health Center, Oakland CA
7Directions, Staff Lounge
Presented by Jim Mahoney
Cascade Residential Mortgage
On April 17, 2009, NAHC will welcome back Jim Mahoney. Jim will be onsite to give a presentation regarding the Native American Section 184 Loan Program. This is a great program for Native Americans seeking to buy a home. Jim is licensed to broker the Section 184 Native American Loan Program in California, Oregon and Washington. At the presentation you will:
- Learn who qualifies for the Native American Government Loan.
- Learn why the Native Loan is better than today's popular FHA Loan.
- Learn about the refinancing options to get out of a current high interest rate loan.
- Learn why NO MORTGAGE INSURANCE is required saving you money every month on your payment.
- Learn how your credit score will affect your Native Loan.
After the presentation, Jim will meet with interested individuals for a pre-qualification meeting. If you would like to meet with Jim, please contact Natalie Aguilera after Friday 2/28/09. Individual meetings will last 15-20 minutes. NAHC staff will have priority to attend individual meetings. After 2/28/09 individual meeting slots will be made available to interested community members.
The loan program is open to all Native Americans from a Federally Recognized Tribe (at least one borrower must have tribal documentation), specific details regarding the benefits of the loan program are listed below.
- Only one loan, fixed rate, 30 YEAR ONLY. (No need for second mortgage.)
- Minimal down payment, only 2.25% vs. typical 20% on conventional loans.
- Fees that are waived include: application fee, processing fee, bank underwriting fee. Save over $2,000 in closing costs.
- Cash out refinances up to 85% of current appraised value.
- All properties must be owner occupied, no investment properties are allowed.
- Great interest rates, even if you have credit challenges.
