Home Financing Options for Colville Tribal Members

There are several great programs that provide members of the Colville Confederated Tribes with low interest mortgages and down-payment assistance for homes on or off reservation lands. I recently financed a first home for a couple (she is a Tribal member), where they were able to combine a Down Payment Assistance grant from Colville Tribal Housing with a House Key first time homebuyers loan through the Washington State Bond Program. The builder, Family Home Investments of East Wenatchee covered a majority of the buyer's closing costs. As a result of these programs and the value that this builder builds into his homes, the new homeowners walked in with a lot of equity in a new house. This was one of the most rewarding loans I have ever done, as I like to see people get a good deal.

Tribal Members should contact Colville Tribal Housing about qualifications for their grants. The Washington State Bond program uses no taxpayer dollars and offers up to 100% financing for any first time homebuyer in the state that meet their qualifications. Current rates for this program are between 5.25% and 5.75% for a 30 year fixed loan. For those who aren't first time buyers, the program is also offered to anyone buying a home on the Colville Reservation, and any US service veteran. Additional grants are available to families with a disabled family member.