07/01/2024 | Press release | Distributed by Public on 07/01/2024 11:14
What does this program do?
The Native Community Development Financial Institution (Native CDFI) Relending Demonstration Program is designed to improve homeownership opportunities for Native American Tribes, Alaska Native Communities, and Native Hawaiian Communities in rural areas.
The program provides mortgage lending capital to Native CDFIs through a 33-year loan at one percent interest, with a three-year payment deferral at loan onset.
Who can apply for this program?
Entities certified as Native Community Development Financial Institutions by the U.S. Treasury Secretary can apply for this relending demonstration program.
What is an eligible area?
Eligible areas include:
How can funds be used?
Native CDFI Relending Demonstration Program funds must be used to provide direct loans to recipients to buy, build, rehabilitate, improve, or relocate a primary residence on eligible land. The borrower must use the dwelling as their permanent residence.
What are some of the loan terms?
Is there a deadline to apply?
The application deadline is August 9, 2024.
How do we get started?
Application documents are available under the To Apply tab. You can also request paper application packages from USDA Rural Development by sending an email to [email protected].
What governs this program?
NOTE: Because citations and other information is subject to change, always consult the program instructions listed in the section above titled "What Governs This Program?" You can also contact your local office for assistance. You will find additional forms, resources, and program information at rd.usda.gov.