Native American Homebuyers Presentation
On May 2, 2008, NAHC will welcome back Jim Mahoney, a representative
from Cascade Residential Mortgage. 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 Mahoney from Cascade Residential Mortgage is licensed to broker the Section 184 Native American Loan Program in California, Oregon and Washington. The loan program is open to all Native Americans from a Federally Recognized Tribe (at least one borrower must be Native), specific details regarding the benefits of the loan program can be found below.
The presentation will take place as follows:
Oakland Clinic - 5/2/08 at 10:00am - 1st Floor Conference Room
Native American Section 184 Loan Program:
-Only one loan, fixed rate, 30 YEAR ONLY. (no need for second mortgage)
-No Mortgage insurance required
-Minimal down payment, only 2.25% vs. typical 20% on conventional loans
-Credit challenged borrowers are still eligible for the program.
-Only need one Native American on the loan (ok to have 2 borrowers)
-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
-Land does not have to be on a Reservation!!! All of Oregon, Washington and California are eligible.
-Great interest rates, even if you have credit challenges.
Natalie Aguilera I Human Resources Manager
Native American Health Center I 3124 International Blvd. Oakland, CA
NatalieA @ nativehealth.org (take out spaces)