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VA Loans/Native American Veterans/on Trust Lands - Detail Verified 08/23/10 Last Updated 11/13/08

Program Overview

VA Loans/Native American Veterans/on Trust Lands - Detail Verified 08/23/10 Last Updated 11/13/08 is a program available to Native American veterans who wish to purchase or construct a home on trust land. A VA direct loan can be used to purchase, construct, or improve a home on Native American trust land. VA direct loans are generally limited to the cost of the home, or the Federal Home Loan Mortgage Corporation single-family conforming loan unit, whichever is less. Contact a VA office with loan activities for information regarding the current loan limit and any other questions you may have. The land must be on Native American trust land.

Who is eligible for this program?

This program is available to eligible Native American Veterans who have available entitlement. Veterans who were honorably released from active duty service, during World War II and later periods are eligible. The income of a Veteran and spouse, if any, must be stable and sufficient to meet mortgage payments, cover other expenses of owning a home, take care of other obligations and expenses and must have enough left over for family support. This program is to be used toward the purchase, construction, or improvement of a home on Native American Trust Lands. Is this program for first time buyers only? Yes

Property Eligibility Requirements

Allowable property types: Single family residence, manufactured homes on permanent foundations.

Benefit Details

The maximum loan amount may not exceed VA's estimate of the reasonable value of the property to be purchased. Loan Term: 30 years Homebuyer Counseling / Education Required: No Owner Occupancy Required: Yes Other Program Comments: Homebuyer Counseling/Education may be required depending on the tribe.

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