PAHA uses the HUD-administered Section 184 Home Loan Guarantee Program to assist eligible tribal members to purchase a new home, rehabilitate an existing home or build a new home. To protect Acoma homebuyers, PAHA established a legal and administrative framework to guide the interests of the borrower, lender, and federal agency that guarantees the mortgage loan.
In 2018, The Pueblo of Acoma adopted all tribal law necessary to allow for mortgage lending on Acoma trust lands, which led to a Memorandum of Agreement with the Veterans Affairs, U.S. Department of Agriculture and Fannie Mae. The Pueblo amended its mortgage code to provide for federal court jurisdiction that HUD required to approve Acoma’s participation in the Section 184 Home Loan Guarantee Program as a lender. PAHA is currently working on its first Section 184 home loan.
For more information, please contact Rose Vallo with the Housing Services Department at rvallo@acomahousing .org