Gershman Mortgage Launches Section 184 Indian Home Loan Guarantee Program
Gershman Mortgage has launched the Section 184 Indian Home Loan Guarantee Program, offering Native American and Alaska Native borrowers more accessible home financing options. The program allows for down payments as low as 2.25% (or 1.25% if the loan is $50,000 or less) with no monthly mortgage insurance required—only a one-time upfront fee. It supports various property types and is not restricted to reservation land. Jeff Ogden, Senior Vice President of Production at Gershman Mortgage, emphasized that this initiative aims to address common barriers faced by Native American borrowers in conventional financing. The program's flexibility makes it suitable for both purchasing new homes or refinancing existing ones. As an independent mortgage lender with a long-standing reputation and operations across 22 states, Gershman is expanding its range of services. The Section 184 Indian Home Loan Guarantee Program aligns with the company’s broader mission to provide diverse residential loan options while maintaining timely closings for borrowers.
Topics: home financing Native American borrowers Section 184 Program