Housing Authority of the Choctaw Nation of Oklahoma
 HOME FINANCE DEPARTMENT

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The Housing Authority of the Choctaw Nation offers a variety of loan programs to meet your needs.
 
Choctaw Homebuyer's Advantage Program (CHAP)
Downpayment/Closing Costs Assistance
Revolving Loan Fund (RLF)
Choctaw Homeowners Development Service

Choctaw Homebuyer's Advantage Program (CHAP)
For Choctaw Tribal Members who live nation-wide. No Income Guidelines. Borrower is approved for loan based on credit and income to support debt and payments. The loan application is processed by the Housing Authority of the Choctaw Nation Home Finance Department and then sent to the mortgage lender for final approval and closing.  Please give us a call if you are located outside of Oklahoma for individual state requirements. Some loan products are not available in all states.
Maximum Amount: $322,700
 

 


Downpayment/Closing Costs Assistance

The Choctaw Home Finance Corporation assists homeowners with a second mortgage to help with the down payment and closing costs associated with the purchase of a home if allowed by your specific loan program and your participating lender guidelines. The amount of assistance is dependent on the cost of aquistion and/or appraised value of the home you are purchasing.

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.

Term: 5 years  

Revolving Loan Fund (RLF)
Members of a Federally Recognized tribe who live within the Choctaw Nation Servicing Area and whose income is 80% and below the national median income limits. Any questions regarding the national median income limits can be addressed to the Home Finance Department. This program can be used to purchase, refinance, construction or rehab to current home.

Term: 30 years  
 
Preference given to Choctaw Tribal Members.

Choctaw Homeowners Development Service

This is a construction service provided to low-income Native Americans located within the 10 1/2 counties of the Choctaw Nation Servicing Area. Property may be located outside the servicing area within a 50 mile radius in the state of Oklahoma with a pre-approval from the Choctaw Homeowners Development Service.

Term: 30 years  
 

 




Unless otherwise indicated, these APR calculations are based on the following: Conforming loans (whose maximum loan amount is below $424,100 for the contiguous states, District of Columbia, and Puerto Rico or below $636,150 for Alaska, Guam, Hawaii and the Virgin Islands) are calculated based on a loan amount of $322,700 with closing costs of $6,454. Jumbo Loans (whose maximum loan amount exceed $424,100 for the contiguous states, District of Columbia, and Puerto Rico or exceed $636,150 for Alaska, Guam, Hawaii and the Virgin Islands) are calculated based on a loan amount of $1,000,000 with closing costs of $20,000. Your actual APR may be different depending upon these factors.