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Eligible Properties |
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Eligible Properties |
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The Section 184 Program is designed to enhance home mortgage lending on trust/restricted lands and in other Indian areas. Only single-family properties are eligible for inclusion in the Program.
| a. | Definition of Single Family Property. A single-family property is a single structure containing one to four family dwelling units. Multifamily properties (buildings containing more than four units) are not eligible for participation in this Program. |
In order to be considered a single structure, multiple units must share a common roof and at least one wall that is connected to another unit. A site with four separate, non-connected structures is not considered to be one single-family unit.
Multiple Properties. Borrowers who are interested in developing multiple properties must apply for multiple loans and loan guarantees. For example, if an IHA/TDHE or Tribe wants to build 20 single-family homes for sale to individual tribal members, each of the homes must have a separate loan with a separate loan guarantee. The borrower may utilize a "master application" that references each individual home, loan and loan guarantee.