The Hopi Credit Association is not a traditional lender or bank. We are a Native CDFI lender who can work with higher-risk borrowers, including those who do not qualify for bank financing.
Our goal is to provide eligible and qualified applicants the opportunity of constructing a residential abode to be situated within the boundaries of the Hopi Indian Reservation. Financing will be available only for those homes situated within the boundaries of the Hopi Reservation.
Download the Home Loan Application HERE.
Basic Eligibility Requirements:
- Must be enrolled member of the Hopi Tribe
- Both on reservation and off reservation enrolled members may be eligible provided that the constructed home is located on the Hopi reservation.
- Minimum 2 years employment or other verifiable income such as self-employment, retirement, etc.
- Completion of home buyer education course (provided by the HCA).
Loan Size:
Up to $100,000.00
Rates:
Fixed Rate: 7.25-9.0% based on credit history
Fees:
- 3% Loan fee of approved amount
- $15.00 application fee
- $14.00 credit check fee
- $3.00 share cost (1 share for every $100.00 of loan amount)
- $10.00 insurance processing fee (annually)
- All direct costs incurred by HCA
Term:
Not to exceed (25) twenty-five years.
Security/Guarantees:
All home construction loans will be secured with a home.