Home Loans

Renovation housing loans are based on appraised value and equity, reasonable credit rating, owner occupied, second lien or better. Must be a MCT enrolled member to apply.

The Minnesota Chippewa Tribe Finance Corporation (MCTFC) has been administering and providing mortgage loan services to low and moderate American Indian borrowers since 1977. The MCTFC has assisted over 2,000 families to improve the quality of their living environment through construction or purchase of suitable housing. Our goals are to:

• To promote the advancement and expansion of affordable homeownership programs to Native American member bands of the Minnesota Chippewa Tribe.
• To provide mortgage financing for the purchase, construction and rehabilitation of single family homes.

• Home Loan applicants must be an American Indian enrolled in the Minnesota Chippewa Tribe and must be owner occupied.
• Applicants must also meet other requirements such as; reasonable credit risk, have a stable employment history, and meet State and HUD credit underwriting guidelines.

• The MCTFC processes housing loans through conventional and HUD Section 184 insured loan program. Down payment assistance programs are sometimes available in local areas.
• The MCTFC website provides downloadable information and interactive tools which describe the types of service programs available.
• We perform field application intake sessions at various locations on each of the six member reservations.
• We also provide homebuyer training, assists clients with home inspections and construction counseling.