If you have been pre-approved through our CHAP program, we will also process your application for our Downpayment/Closing Costs Assistance. We will finance up to 2% of the downpayment and the allowable buyer's closing costs associated with the loan. We would take a second mortgage on the property and our terms are at a 5% interest rate for up to 5 years. This lets you get into the home with as little as 1% down.  If you are within our Choctaw Nation Servicing area and you are working with another lender for the purchase of your home, you may still qualify for our Downpayment/Closing Costs Assistance. We will only finance up to 2% of the downpayment and the allowable buyer's closing costs associated with the loan for up to 5 years at a 5% interest rate. We would require a pre-approval with the lender and a copy of the Good Faith Disclosure detailing the terms and cost of the loan.

For individuals who want to purchase a Modular home constructed by the Housing Authority of the Choctaw Nation Modular Department. Borrowers will be approved based on credit and income to support debt and payments. If you are approved for a loan, you will meet with a Modular Department representative to complete the budget phase. The property will be evaluated for approval before final loan approval and closing. Borrowers income must be within 80% or below the national median income and be a member of a Federally recognized tribe.  The property will need to be located within the Choctaw Nation Servicing area or within 150 mile radius of the supplying Modular Plant.

The interest rate for a Modular Loan will be determined based on 15% of your total gross monthly income.  Please feel free to contact our loan officer for payment and rate information.