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 means of improving their residential abode. It is recognized some homes may be aged and lack modern conveniences and need improvements such as installing electricity, water, new roof, refurbishing the interior, or adding new rooms. Financing will be available only for those homes situated within the boundaries of the Hopi Reservation.
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 home improvement is for a home located on the Hopi reservation.
- Minimum 2 years employment or other verifiable income such as self-employment, retirement, etc.
Loan Size:
Up to $10,000.00, any amount of over $10,000.00 will be considered as a home construction loan.
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:
Determined on a case-by-case basis.
Security/Guarantees:
All home improvement loans will be secured with a home.