Fannie Mae, Creeks offer housing help to tribal members
Monday, May 22nd 2000, 12:00 am
By: News On 6
(Okmulgee-AP) -- Members of the Creek Nation may qualify for help with housing under a program announced today by the tribe's housing authority and Fannie Mae.
Fannie Mae officials say the program allows families to purchase homes with no money down. Fannie Mae is a federally charted five-year forgivable mortgage loan for up to $25,000 or 50 percent of the sales price of a home -- whichever is less. The program is made possible through Native American Housing and Self-Determination Act funds.
The loans are available to tribal members earning at or below 80 percent of the national median income of about $40,000 for a family of four.