Manage episode 274260891 series 2805164
Player FM과 저희 커뮤니티의 Kerretv Keetheeduh 콘텐츠는 모두 원 저작자에게 속하며 Player FM이 아닌 작가가 저작권을 갖습니다. 오디오는 해당 서버에서 직접 스트리밍 됩니다. 구독 버튼을 눌러 Player FM에서 업데이트 현황을 확인하세요. 혹은 다른 팟캐스트 앱에서 URL을 불러오세요.
Today we have a conversation with Eric Sprenkle Loan Officer of 1st Tribal Lending, joining Wilma Noah and Krystal Cedeno, Training and Development Specialist of the Native Learning Center. Eric Sprenkle will cover new construction with Section 184. How Tribe’s or TDHE’s can be the borrower as well as how Tribes and TDHEs can use Section 184 Loans to develop rental housing or to build single-family homes (1-4 units) that are subsequently sold (or assumed) by eligible borrowers. Items discussed: - Mortgage program specifically designed for Trust land - HUD 184 allows cost approach appraisals, which are used on tribal trust land. Other financing requires comparable sales. - Tribe/TDHE can take advantage of today’s interest rates - Each phase of construction may consist of up to 20 units(exceptions have been made based on your overall project plan) - 20 units is a program guide. If a phase is to exceed 20 units please note in an overall project plan. - Cost-savings: - Construction costs may be lower if doing multiple units at one time - Appraisal costs may be lower if doing multiple units at one time - Lender costs may be lower if doing multiple units at one time - Down payment is only 2.25% per unit VS typical construction financing which is approx.. 20% down - One time closing that contains both the construction loan and permanent loan all in one. - Up to 15% of off-site infrastructure can be included in the cost of the individual home