The Section 184 Indian Home Loan Guarantee Program
At Lennar Mortgage, LLC, we’re always looking for new loan programs to offer our homebuyers. We’re now proudly offering the Section 184 Indian Home Loan Guarantee Program, a program that offers low down payments and flexible underwriting requirements for members of qualifying Native American tribes.
Who Can Take Advantage of this Program?
This loan program is intended for primary residences in approved Indian operating areas only. In addition, one of the applicants must be a member of one of the following:
- A federally recognized tribe
- A regional or village corporation as defined in the Alaska Native Claims Settlement Act
- One of the following state tribes: Coharie Tribe, Haliwa-Saponi Tribe, Lumbee Tribe, Waccamaw Siouan Tribe or MOWA Band of Choctaw
What Are the Benefits?
In addition to the flexible qualification requirements, the Section 184 Program offers a loan minimum down payment, no requirement for monthly mortgage insurance and the ability to receive seller contributions. This 30-year fixed program is great for homebuyers looking to ease into owning a home.
Main Benefits:
- Minimum down payment of just 2.25% of the lesser of the appraised value or sales price
- No monthly mortgage insurance; a 1% upfront loan guarantee fee takes the place of this common recurring expense
- Seller contributions up to 6% allowed
What Are the Qualification Requirements?
One of the unique features of this program is there is no minimum income and no minimum credit score required. In fact, it’s possible for homebuyers without a conventional credit history to qualify for this program!
However, this doesn’t mean your income and credit don’t matter. You’ll still need to provide enough evidence of your creditworthiness and ability to repay the loan in order to be approved. For example, if you don’t have a conventional credit score, you may be asked to provide documentation showing payment histories for rent, utility bills or other recurring expenses.
Credit Score:
Those with lower credit scores may qualify with a few conditions. For example, homebuyers with credit scores below 620 must complete a homebuyer education course before closing. Additionally, homebuyers with a credit score below 580 would need to provide a larger down payment of at least 10%.
Debt-to-Income Ratio:
Debt-to-income (DTI) ratios of up to 41% are allowed. Homebuyers with a DTI ratio of 41%-43% may still qualify if 2 of the 5 compensating factors listed below are present:
- Less than 15% housing cost increase
- Credit score of 700+
- Additional income that was not included in the qualifying income that would lower the DTI ratio below 41%
- 6+ months of cash reserves
- Down payment above 25%
Is It Right for Me?
Each homebuyer is different, which is why connecting with a Loan Officer is an important first step when comparing loan programs. If you’ve already met one of the licensed Lennar Mortgage, LLC Loan Officers in your area, ask them if you’d be a good fit for the Section 184 Program!
To meet a dedicated Loan Officer near you, start by getting pre-qualified today1!
1Prequalifying with Lennar Mortgage, LLC is voluntary and is not required in order to obtain a loan from Lennar Mortgage, LLC and/or purchase a home from Lennar Corporation or any of its affiliated homebuilders. Prequalification does not (a) constitute a loan approval or indicate that you have or will qualify for a loan from Lennar Mortgage, LLC [or any other lender], or (b) guarantee you will qualify to purchase a Lennar home. The content provided herein is for informational purposes only. Nothing herein shall constitute legal, tax, investment or financial advice. No representation is made regarding your ability to qualify for a home loan, your ability to improve your credit score, or the availability of a home or loan product that meets your needs. Model(s)/lifestyle photo does not reflect racial or ethnic preference. Lennar Mortgage, LLC - NMLS # 1058. © 2025 Lennar Mortgage, LLC. All rights reserved. Lennar Mortgage and the Lennar Mortgage logo are U.S. registered service marks or service marks of Lennar Corporation and/or its subsidiaries.