Residential Loans

Canyon National Bank specializes in Native American loan programs.      Apply Now

Guaranty Programs

Canyon National Bank specializes in a number of government guarantee loan programs specifically designed to promote Native American ownership in homes or businesses, on or off reservation.

HUD Section 184 Home Loan

The Section 184 Indian Home Loan Guarantee Program is a 15- or 30-year, fixed interest rate mortgage product specifically designed for Native Americans to buy a home with a low down payment, no mortgage insurance, and flexible underwriting terms. For more information, please contact Keely Brophy at (760)776-1500 ext. 225 or fax your documents and loan application to (760)674-8469.

Frequently Asked Questions

Who is Eligible?

• American Indians or Alaska Natives who are members of a federally recognized tribe
• A member of an Alaska Village and Regional Corporation established pursuant to the Alaska Native Claims Settlement Act
• An Indian tribe
• A Tribally Designated Housing Entity (TDHE)
• An Indian Housing Authority (IHA)

How Can You Use this Loan?

• Purchase of an existing home
• Single-close construction loans for a stick-built or a manufactured home on a permanent foundation
• Purchase and rehab loans
• Refinance

Eligibility is limited to single-family housing (1-4 units) and fixed-rate loans for 30 years or less. Tribes, TDHEs or IHAs can borrow funds to develop rental housing or to build single-family homes that are subsequently sold (or assumed) by eligible borrowers.

In which states is Canyon approved to finance 184 loans?

Arizona California Colorado Idaho Montana

Nevada New Mexico North Dakota Oklahoma Oregon

South Dakota Texas Utah Washington Wyoming

HUD Title VI Loan Guarantee

The Title VI loan guarantee assists Indian Housing Block Grant (IHBG) recipients (borrowers) finance eligible affordable housing activities with private lenders. The Borrower leverages IHBG funds to finance affordable housing activities today by pledging future grant funds as security for repayment of the guarantee obligation.

Frequently Asked Questions

Who is Eligible for a Title VI loan?

• A federally recognized tribe who receives IHBG funds
• A TDHE authorized by a tribe to receive IHBG funds and is authorized to make obligations and pledge IHBG funds as security for those obligations BIA 90% Loan Guarantee Program

What types of projects have been financed with a Title VI loan?

The construction of water and wastewater infrastructures, a new health clinic, the construction and rehabilitation of single family and duplex affordable housing units, and the purchase and rehabilitation of a mobile home park are tribal projects made possible by the Title VI loan program

BIA Loan Guarantee

The Bureau of Indian Affairs Loan Guarantee Program guarantees up to 90 percent of a loan on a for-profit Indian business, "provided that the activity will contribute to reservation-based economic development."

Frequently Asked Questions

What are the eligibility criteria?

 

Borrower must be a Tribe, Indian or Indian owned business. Business must be a “for-profit” entity and should benefit the economy of the reservation.

What expenses are typical?

The Borrower must have 20% equity into the project, which can either be cash or unencumbered assets that can be secured by a first lien. The Bank will assess usual and customary loan processing fees in addition to a 2% loan guaranty fee assessed by the BIA.

What is the maximum term and loan amount for this program?

The term of the loan is determined by the lender but cannot exceed 30 years. Loan limits are $500,000 to individual tribal members or $12 million to tribes or tribal enterprises.

BIA Interest Subsidy

Under this program, the Bureau of Indian Affairs reimburses the Native American borrower a portion of interest paid on on a BIA Guarantee Loan.

Lenders apply for the interest subsidy on behalf of their borrowers for a maximum initial term of three years. An additional two-year subsidy can be requested.

Tribal Business Loans

Canyon National Bank specializes in Native American loan programs to finance economic development projects.

Business Lines of Credit

Most businesses use a line of credit to finance seasonal or other short-term needs, which can include working capital, equipment or inventory. Features of our line of credit include:

• Monthly billing (interest only accrues on outstanding balance).
• The ability to pay down or re-borrow.
• Variable interest rate based on Wall Street Journal Prime Rate

Business Term Loans

Business Term Loans are an excellent choice for specific purchases. We can help you finance the equipment you need to grow your business.

Commercial Real Estate Loans

If you need to purchase a retail building or lot, find office space, or make changes to your existing office building ON/OFF reservation land, Canyon National has excellent programs with terms up to 25 years.

Construction Loans

If your goal is to build economic development from the ground up, CNB has the expertise to assist you. With combined experience of over 75 years, our loan officers and staff will simplify the financing process. We offer:

• Funds control and disbursement of checks to contractors/suppliers
• Interest reserve account
• Land draws (certain conditions apply)
• One-step construction-to-permanent loans