Saginaw Chippewa Housing Department
2451 Nish Na Be Anong Rd
Mt Pleasant MI 48858
main ph # 989-775-4595
toll free # 1-800-894-9887
Housing is dedicated to providing and advocating for affordable, attractive, safe living environments and opportunities for Native American families to become self-sufficient through sound financial choices.
The SCIT Housing Department continues to be Nationally recognized innovative leaders in Indian Country; creating model activities, resulting in outstanding Community Betterment.
Why Should I Use the Section 184 Loan?
There are many advantages to using a Section 184:
- Low Down Payment: 2.25% on loans over $50,000 and only 1.25% on loans under $50,000
- Low Interest Rates: based on market rates, not on applicant’s Credit Scores
- Manual Underwriting: The Program utilizes a hands-on approach to underwriting and approval opposed to automated decision-making tools.
- Growing National Network of Approved Lenders: Our network of approved lenders includes national companies and local banks to suit your needs. Our Lenders have also been trained on the unique circumstances of Native homeownership.
- Section 184 Upfront Loan Guarantee Fee and Annual Mortgage Insurance: A one-time 1.5% up front guarantee fee is paid at closing and can be financed into the loan. In addition, loans with a loan to value of 78% or greater will be subject to an annual .25% mortgage insurance premium.
- Protection from predatory lending: Our Program monitors the fees our approved lenders can charge Native borrowers. Section 184 loans cannot be used for Adjustable Rate Mortgages (ARMs).
- Knowledgeable Staff: Our staff understands the unique circumstances associated with lending on Native Lands and we work with borrowers to achieve home ownership and to avoid default and foreclosure.
Housing offers free counseling in debt reduction along with first time home buyer classes.