Native American Veteran Direct Loan Program

General Loan Program Requirements
In order to qualify for this benefit program, you must be eligible for a Certificate of Eligibility. You must also be a Native American/American enrolled in an American Indian tribe or Alaskan Native village, a Pacific Islander or a Native Hawaiian. You must be seeking to purchase, build or improve a home located on Federal Trust Land or to refinance such a loan. Certain applications of this benefit program may also require that you or a family member served in the military for at least 90 days with at least one day during a period of wartime.

Loan Program Description
Native American Veteran Direct Loan Program makes home loans available to eligible Native American veterans who wish to purchase, construct, or improve a home on Federal trust land.

Loan Terms
The interest rate is determined by the lender and the length of the loan is usually 30 years with payments due monthly. The maximum loan amount is the greater of $80,000 or whatever loan limit the Secretary establishes for an individual tribe.

Must be an MOU b/w tribe and VA; IRRRLs may only be done if prior loan was a NADL and there is at least 1% difference in existing loan rate and IRRRL rate. Vet must be recognized as Native American subject to the jurisdiction of the tribe which controls land. Must be Federally-recognized tribe. Loan may only be made on Federal trust land.

Loan Application Process
Tribe must enter into MOU with VA and provide VA with copies of lease to be used (if tribal trust land) and tribal foreclosure ordinances. Veteran completes application, with VA's assistance, if necessary, and submits application to VA. If approved, VA schedules closing at veteran's convenience. If construction loan, VA makes staged disbursements, through escrow account, to builder. Funds are disbursed upon approved progress inspections. More information on this may be found at VA website, including copies of model MOUs, leases, & foreclosure ordinances.

Loan Managing Agency
U.S. Department of Veterans Affairs