Do I Qualify?

Home Loan Eligibility Requirements

• Applicants must 21 years of age and be enrolled in a Federally Recognized Tribe
• Any building contractor who will perform work on the home must be a licensed contractor.
• No prior uncured default in payment on a mortgage, no more than three defaults in payment on a previous or current mortgage, and no previous foreclosure litigation commenced against them in the last 3 years;
• No outstanding delinquency with the Isleta Pueblo or TLS;
• A debt to income ratio (DI) that is equal to or less than 41% (unless there are special circumstances). This means the debts of the applicant must not exceed 41% of his/her income;
• A mortgage payment to income ratio (MI) that is equal to or less than 28% (unless there are special circumstances). This means the monthly loan amount must not exceed 28% of the applicant’s monthly income; and
• Been employed by the same employer for at least one year, or have been employed in the same field for more than 2 years, or can otherwise demonstrate the likelihood of continuing ability to repay a home loan.
• Members of, or an advisor to, the Housing Finance Committee are not eligible.