Valerie Powell

Choctaw Home Finance Department

Director: Valerie Powell Ext. 300 


Office: 800-235-3087
Office: 580-326-7521
Fax: 580-326-0931

1005 South 5th
Hugo, OK 74743



Apply Online Today!!!!! Our Home Finance web site also provides additional resources to help with your home finance needs.

Application

Choctaw Homebuyers Advantage Program

  1. Available to Choctaw Tribal Members Nationwide
  2. No set income guidelines
  3. Applicant must meet credit approval guidelines
  4. Applicant receives loan approval from our partnering mortgage lenders
  5. Applicant can receive down payment and closing cost assistance through the Choctaw Home Finance Department
  6. Mortgage interest rate is set by the mortgage lender and is comparable to market rates.
  7. 1% - 3% down payment requirement

Revolving Loan Fund

  1. Available to households with a CDIB
  2. Home site located within the Choctaw Nation 10 1/2 county servicing area
  3. Income limits of 80% of the National Median Income level, can loan up to 100% of the National Median Income with approval from the Home Loan Committee
  4. Purchase, Refinance, Rehabilitation, Construction
  5. Fixed Interest Rate
  6. Maximum 30 Year term
  7. 1% - 3% down Payment
  8. Credit guidelines must be met

Down Payment/Closing Cost Assistance

  1. Available to households with a CDIB
  2. 1st lender pre-approval is required
  3. A minimum of 1% down payment is required with a maximum of 2% down payment assistance
  4. Property located within the 10 1/2 county Choctaw Nation Servicing Area if a partnering lender is not used for the 1st mortgage
  5. Credit guidelines must be met

Section 184

  1. Available to Choctaw Tribal Memberts
  2. No set income guidelines
  3. Credit guidelines must be met with pre-approval from participating lender
  4. Home site must be located within an Indian Servicing Area
  5. Fixed rate 30 year maximum amortization

Modular Home Loan Program

  1. Choctaw Modular homes built in Stigler, OK and Coalgate, OK
  2. Applicant must have a CDIB
  3. Interest Rate is based on 15% of total household income
  4. Annual recertification is required
  5. Income guidelines of 80% and below the National Median Income level
  6. Property location must be pre-approved
  7. Credit guidelines must be met

ALL LOAN FUNDS ARE SUBJECT TO AVAILABILITY WITH PREFERENCE GIVEN TO CHOCTAW TRIBAL MEMBERS.