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LoginVA - Home Loans - Native American Direct Loan (NADL) Program
Program Description
The Native American 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.
The home must be your primary residence.
(It??s also possible to use the program to re-finance an existing Native American Direct Loan.)
General Program Requirements
This program is designed specifically for Native Americans who want to purchase, build, or improve a home on Federal Trust Land.
Native Americans who may qualify for these loans include?
Loan Terms
The interest rate is set by VA. The length of the loan is usually 30 years with payments due monthly. The length of the loan is usually 30 years with payments due monthly.
The maximum loan amount is the same as the Federal Home Loan Mortgage Corporation (also known as ??Freddie Mac?) single-family conforming loan limit. That limit is currently $417,000 for loans made on Federal Trust land located in the 48 contiguous States and $625,000 for loans made on Federal Trust land in Alaska, Hawaii, and the South Pacific. Increases in these loan limits will be published annually, based upon the annual adjustment in the Freddie Mac conforming loan limit.
There must be a Memorandum Of Understanding (MOU) between the tribe and VA. The veteran or the veteran??s spouse must be recognized as Native American subject to the jurisdiction of the tribe which controls land. The tribe must be Federally-recognized, and the home must on Federal trust land.
Interest Rate Reduction Refinancing Loans (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.
Application Process
For more information, see the Program Contact Information below.
Contact Information (Register above for free access!)
