The Citizen Potawatomi Nation Housing Department offers a Lease with Option to Purchase Program that is designed to assist low- to moderate-income Native Americans with the dream of homeownership. We designed this program to open the gates to financial and maintenance responsibilities that often are limited or closed to our target population. The lease portion of the program is a strict three-year lease where the lease payments are substantial enough to reduce the shock that mortgage payments can present to new homebuyers and the maintenance responsibilities that fall upon the tenant. Enrolled Citizen Potawatomi Nation tribal members will receive first preference. No felons or members of the household that are felons are eligible for this program. This program is income based, and payments are established on the cost of the home and potential mortgage payments. All program occupants, when ready to purchase, must obtain their mortgage through the Tribally-owned Sovereign Bank. Rental history and payments will be required.
| Household size | 80% Median | 100% Median |
| 1 Person | $54,768 | $68,460 |
| 2 Person | $62,592 | $78,240 |
| 3 Person | $70,416 | $88,020 |
| 4 Person | $78,240 | $97,800 |
| 5 Person | $84,499 | $105,624 |
| 6 Person | $90,758 | $113,448 |
| 7 Person | $97,018 | $121,272 |
| 8 Person | $103,277 | $129,096 |
The low-income Native American population we are targeting is from the high end of the low-income spectrum to the low end of the moderate-income spectrum. These guidelines are provided each year by the Department of Housing and Urban Development and fluctuate in an upward trend year after year.
The targeted population has difficulty in qualifying for a conventional mortgage loan due to less than stellar credit and/or debt-to-income ratios. Often paying overpriced market rents, this target population also struggles with saving enough to make a substantial down payment that could reduce their monthly mortgage payments.
Our solution is to provide an affordable home with incentives in the form of down payment assistance and mortgage buydown to reduce the mortgage loan amount. We also provide financial education and homeownership maintenance training. Families closest to loan readiness and acceptable debt-to-income ratios will get preference. This program is not specifically based on a waiting list system. This program is limited to the jurisdiction of the Citizen Potawatomi Nation and is not nationwide. The homes for this program are built or purchased by the Citizen Potawatomi Nation Housing Department and are available as inventory allows. This program requires the housing department to closely work with applicants during the time of the lease. The purpose is to monitor your progression toward the goal of homeownership. This program requires serious dedication and a disciplined, goal-oriented focus. We are currently accepting applications for future phases of this program.
If you have an interest or questions about this program, please contact Sherry Byers, Homeownership Manager at 405-273-2833 or you can email at [email protected].