Buying a home remains an American dream for many, but it can seem impossible once you start digging into how much those mortgages really cost you. Itâ€™s important to take advantage of every possible tax break, incentive or â€œshort cutâ€ (legally) that you can. However, those who enrolled in a Native American tribe often overlook one of the most valuable resources available. If this is you or someone you know, itâ€™s time to learn about Section 184.
Donâ€™t confuse this with â€œSection 8â€ housing which unfortunately has a stigma surrounding it and is focused on anyone who qualifies as low income. Section 184 is a program designed exclusively for any member of a tribe regardless of financial situation. Itâ€™s an â€œIndian Home Loan Guarantee Programâ€ that offers the lowest possible mortgage rate for first time Native home buyers. However, thatâ€™s just the beginning of the perks. [Read more…]