Home Finance

Home Finance Department

Your source for home loan solutions. Click here to learn more.

Home Finance Brochure

Apply Online Today  Our Home Finance web site also provides additional resources to help with your home finance needs.

Choctaw Homebuyers Advantage Program

  • Available to Choctaw Tribal Members Nationwide. Not all loan products are available in all states. Please give us a  call for your individual state requirements
  • No set income guidelines
  • Applicant must meet credit approval guidelines
  • Applicant receives loan approval from participating mortgage lenders
  • Applicant can receive down payment and closing cost assistance through the Choctaw Home Finance Department with approval from Mortgage lender.
  • Mortgage interest rate is set by the mortgage lender and is comparable to market rates.

Revolving Loan Fund

Members of a Federally Recognized tribe who live within the Choctaw Nation Servicing Area and whose income is 80% and below the national median income limits. Any questions regarding the national median income limits can be addressed to the Home Finance Department. This program can be used to purchase, refinance, construction or rehab to current home. Term: 30 years

  • Preference given to Choctaw Tribal Members
  • Available to households with a CDIB
  • Home site located within the Choctaw Nation of Oklahoma boundaries
  • Income limits of 80% of the National Median Income level, can loan up to 100% of the National Median Income with approval from the Home Loan Committee
  • Purchase, Refinance, Rehabilitation, Construction
  • Fixed Interest Rate
  • Maximum 30 Year term
  • 1% - 3% down Payment
  • Credit guidelines must be met

Down Payment/Closing Cost Assistance

  • Available to Choctaw Tribal Members Nationwide
  • 1st lender pre-approval is required
  • A minimum of 1% down payment is required with a maximum of 2% down payment assistance
  • Property located within the Choctaw Nation Servicing Area if a partnering lender is not used for the 1st mortgage
  • Credit guidelines must be met

Section 184

  • Available to Choctaw Tribal Members
  • No set income guidelines
  • Credit guidelines must be met with pre-approval from participating lender
  • Home site must be located within an Indian Servicing Area
  • Fixed rate 30 year maximum amortization
  • Credit Repair and Home Improvement 

Credit Repair Loans

  • Available to Choctaw Tribal Members living within the Choctaw Nation of Oklahoma
  • Interest rate of 3%
  • Loan terms up to 10 years
  • Maximum loan amount $10,000
  • Loans may include payoffs for collections, charge offs, judgments, liens and repossessions 
  • No income limits
  • Requires credit/budget counseling with Service Coordination department
  • Funds are based on first-come, first-serve basis

Home Improvement Loans

  • Available to Choctaw Tribal Members living in Oklahoma
  • Interest rate of 3%
  • Loan terms up to 10 years
  • Maximum loan amount $10,000
  • Loans available in Oklahoma only
  • Must be an Oklahoma resident 
  • No income limits
  • Credit guidelines must be met
  • Funds are based on first-come, first-serve basis
  • All loan funds are subject to availability with preference given to Choctaw Tribal Members

 

ALL LOAN FUNDS ARE SUBJECT TO AVAILABILITY WITH PREFERENCE GIVEN TO CHOCTAW TRIBAL MEMBERS.

Application for Credit Repair

Application for Purchase, Construction & Refinance

Application for Streamline Home Improvement

Homeowners Rehabilitation Services (HRS)

Homeowners Rehabilitation Services Appliance Application

 

Contact Us:

Address & Driving Directions: 207 Jim Monroe Road, Hugo, OK 74743

Voice: 580-326-7521 or (800) 235-3087

Fax: 580-317-9610

Email:
   [email protected]
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