topic Re: Section 184 Home Loan in Mortgage Loans

Section 184 Home Loan

12bizman — Sat, 07 Mar 2020 22:26:11 GMT

Does anyone have any experience with the Section 184 home loan?

Re: Section 184 Home Loan

donkort — Sun, 08 Mar 2020 13:12:41 GMT

They are for Native Americans.

The minimum downpayment is 2.25%.

One has to take a class on homeownership.

Interest rate not based on FICO score.

Manual underwriting is used.

Go to HUD.gov for more info.

Re: Section 184 Home Loan

12bizman — Sun, 08 Mar 2020 15:06:57 GMT

Thank you. Yes, I am aware of that. My friend has applied and is in underwriting now. I was wondering if anyone else has been through underwriting. Thanks

Re: Section 184 Home Loan

12bizman — Wed, 01 Apr 2020 01:30:43 GMT

I got conditional approval on Friday and my LO said she is working on the conditions. I've only been asked to provide one thing so far. I'm just curious as to what other conditions could she be working on if she doesn't need me to provide anything else. Thanks!