May 05, 2015 –
Shaking hands are Mike Frueh, Director-Veterans Affairs Home Loan Program, and PBPN Chairperson Liana Onnen after signing a Memorandum of Understanding about a Native American Direct Home Loan Program that will allow veterans to build homes on trust land. In the background are veterans, Tribal Council members, and other VA officials. The ceremony was held at the Bingo Hall this morning.
MAYETTA: Today the Prairie Band of Potawatomi Nation (PBPN) signed a Memorandum of Understanding (MOU) with the Department of Veterans Affairs (VA) so eligible Native American Veterans and their spouses will have the opportunity to use their Department of Veterans Affairs (VA) home loan benefit to build on Federal trust land.
The signing ceremony was held at 10 a.m. followed by a Veterans Benefits Fair at 11 a.m. at the Bingo Hall.
Liana Onnen, PBPN Chairperson, said, “The Prairie Band of Potawatomi Nation looks forward to our partnership with Veterans Affairs to provide direct loans to our eligible Native American Veterans through the Native American Direct Loan (NADL) Program. The signing of this intergovernmental document exemplifies the commitment of both organizations to provide adequate housing opportunities for our Native Veterans.”
By statute, before VA may make a loan to a Native American Veteran desiring to build or renovate a home on tribal land, the Veteran’s tribal sovereign governing body must enter into a MOU with VA. Native American Veterans eligible for VA home loan benefits and whose sovereign governments have signed a MOU may then apply directly to VA for a 30-year fixed rate to purchase, build, or improve a home located on Federal trust land. They may also refinance a direct loan already made under this program to lower their interest rate.
Native Americans traditionally have had the highest rate of enlistment in the armed forces. This agreement opens the door for Prairie Band of Potawatomi Veterans to use their richly deserved benefit of home ownership on Indian Country. The Native American Direct Loan (NADL) is a low cost, low fixed interest rate home loan. The lender is the VA.
VA regional office representatives who work on the Native American Direct Loan Program can be accessed by calling 800.827.0611 extension 3716.