The Mortgage Assistance and Self Sufficiency programs allow Cherokee citizens to build and repair their credit and reach personal financial goals. This program provides qualified Cherokee Nation citizens with down payment and closing costs assistance in obtaining a mortgage to purchase or construct a home. Income guidelines are 80% of National Median Income (NMI) or below.
The mortgage assistance program provides qualified Cherokee Nation citizens with down payment assistance up to $25,000. For more information please contact Cherokee Nation Commerce Services at 918.453.5536 or firstname.lastname@example.org.
The Head of Household or spouse must be a member of a federally recognized tribe. Preference is given to Cherokee Nation Citizens. A first-time home buyer is defined as an individual or spouse who has had no ownership in a residence during the three years prior to the purchase; or who has only owned a residence not permanently affixed to a permanent foundation; or who has only owned a property that was uninhabitable or not in compliance with building codes.
Applicants must be willing to reside within the Cherokee Nation's jurisdictional boundaries and must obtain a loan through an approved lender, preferably a Section 184 or USDA loan. The loan must be approved by Cherokee Nation. Program participants must own and reside in the home for 10 years or a prorated payback will apply. An onsite environmental review and inspection will be conducted and home buyer’s education classes are required. Purchase size is limited to five (5) acres and household members must pass a criminal background check.