WASHINGTON – The U.S. Department of Agriculture extended 43 mortgages for approximately $1 million to American Indian/Alaska Natives on tribal land during fiscal 2009, the agency reported.

Indian Country Today has now quantified 301 mortgages made on Indian land in fiscal 2009, for a total of $37 million in financing. The balance of the loans come from the U.S. Department of Housing and Urban Development’s section 184 guaranteed Indian mortgage program. ICT has been unable to determine yet how many mortgages were made on trust or allotted land by private lenders in the “conventional” mortgage market.

Six of the USDA mortgages came through its Rural Development 502 single family direct mortgages, for $600,750, USDA revealed, while three, for $177,571, came through the RD 502 guaranteed mortgage
program. Thirty-four were rehabs done through the USDA 504 program, for $252,928.

Some of the rehabs were actually grants if the amount was $7,500 or less, according to Tedd Beulow, USDA analyst. His tally excluded Native Hawaiians and Pacific Islanders.

Looking at the 502 direct program only, Beulow said the agency peaked in 2002 with 43 mortgages on tribal lands, followed by 40 in fiscal 2003, 42 in 2004, 25 in 2005, 16 in 2006 and 6 in 2007.

In all, on and off reservation, USDA made 1,012 loans to AI/ANs in fiscal 2009, for about $93 million in finance. In the 502 direct program, there were 192 mortgages extended, for $22.4 million. For the 502 guaranteed program, the numbers were 619 loans for $69.7 million. And for the 504 rehabs, the numbers were 201 loans for $1.4 million.

By far the most of the 502 guaranteed loan (in which the government guarantees repayment to the lender) were made in Oklahoma, at 220, for $19.7 million in finance. California followed with 38 for $5.6 million and Texas with 34 for $4.2 million.

Oklahoma also led the count in the 502 direct program (where the money is loaned directly to the borrower), with 35 loans for $2.9 million. It was followed by Michigan, with 22 loans for $1.9 million, and Alaska with 15, for $2.6 million.