Morongo Native FHA and Mortgage Loan in California

On the north-center border of Riverside County, California, you’ll find the land that belongs to the Morongo Native American tribe. President Ulysses S. Grant determined the borders of this reservation, which just so happens to overlook the breathtaking Banning Pass. The reservation is also home to the incredibly successful Morongo Casino, Resort & Spa, which started as a humble bingo hall in the 1980s.

Perhaps you’re looking to start your own story on these tribal lands or refinance the mortgage that helped settle you into your current home. If so, a Section 248 Mortgage on Indian Lands may help you achieve your goals. There are, of course, a few criteria that must be met before you will receive your funds.

First of all, you must be a Native American tribe member in order to qualify for this particular loan; if a tribe wants to apply for a loan to buy or build something upon its land, that works, too. Of course, in this day and age, not everyone residing on the reservation is of Native American descent. If they would like to qualify for a Section 248 Mortgage, though, they must have a co-borrower who has roots within the community. This co-borrower must deem the purchased home his or her primary residence in order for both applicants to qualify. When looking for more information on California FHA home mortgage loans use our extensive resource.

As for the home itself, it can only be so large: one- to four-family dwellings qualify for a Section 248 Mortgage. The home must also be built on lands that the tribe owns or lands that have been given to the tribe by the federal government. You cannot apply this type of loan to a cooperative unit.

The last piece of the puzzle is your tribe’s cooperation with the U.S. Department of Housing and Urban Development’s loan stipulations. They have four requirements that the tribe must agree to before its people can successfully apply for a Section 248 Mortgage.

For starters, the tribe must have its own eviction procedures that it will follow should tenants of the new property fail to keep up with payments. Secondly, the tribe must allow the HUD onto its premises to service its properties. Third, the tribe must use the HUD’s lease agreements. Finally, the tribe must ensure that the FHA-approved mortgages will be given first lien by hearing eviction and foreclosure cases in its courts. Alternatively, tribes can opt to allow state law to have jurisdiction over evictions and first lien cases.

If you are a member of the Morongo tribe or any other tribe that resides in California, call us today at 866.260.2253 for help with your FHA home loan application. You can also email us at mark@ablending.com.