Lease Purchase, rent-to-own, program update
The purpose of the Comanche Nation Housing Authority (CNHA) Lease Purchase Program is to provide low income enrolled tribal members of the Comanche Nation, who have a minimum household income of at least $25,000, an alternative approach to conventional homeownership programs.
Conventional homeownership programs will generally require a down payment and a favorable credit report to be approved for a home loan. This program provides a means for low-income families to overcome credit issues and financial obstacles to become homeowners through a rent-to-own lease purchase program without meeting the standard credit score requirements or needing a down payment.
Participants are assisted in finding a home based on their family needs and preferences for location that meet the quality standards of the Housing Authority. The home may be selected from available CNHA inventory or from the open market and purchased by the Housing Authority. The family then enters a rent-to-own lease agreement with the CNHA for up to 30-years. At the end of the successfully completed lease period, the deed to the home is transferred from the Housing Authority to the homebuyer.
On September 21, 2021, the Housing Authority Board of Commissioners passed a resolution to make homeownership through this program even more affordable by deducting $50,000 from the cost of the home and dropping the interest rate from two percent to zero. The CNHA pays all insurance and payments in lieu of taxes and the homebuyer is responsible for all maintenance on the home. Example using these guidelines - a home purchased by the Housing Authority at a price of $165,000 would cost the family only $319.00 per month over the 30-year period.
This program is available in the CNHA five county service area and Tribal members may find complete program requirements and low-income guidelines at comanchehousing.com or by contacting one of our Lease Purchase Specialists at the Housing Authority.
ARP-HIP
American Rescue Plan-Home Repair Program
New Phone Number is 580-492-4988
Homeowner Assistance Fund (HAF)
Plans Submitted to U.S. Treasury
September 29, 2021
Awaiting Funding Approval
Announcement Closing Applications
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American Rescue Plan(ARP) Home Repair Program is now at the Comanche Nation. If you have questions please contact the main number at 580-492-4988.
The CNHA service area, as designated by the Medicine Lodge Treaty of 1886, consists of the following counties: Caddo, Comanche, Cotton, Kiowa and Tillman. View Service Area Map
The Comanche Nation Housing Authority (CNHA) is committed to providing affordable, safe, and decent housing, while promoting self-sufficiency through employment, education and economic stability to income eligible Native American families, with preference given to enrolled Comanche Tribal members.
Phone & Fax Numbers Tel: 580.357.4956 / 877.263.7042 |
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Need to Pay your Rent?
Native Americans with a Federally recognized CDIB card that qualify as low-income as determined by the Income Limits under the Native American Housing Assistance and Self-Determination Act of 1996, with preference given to enrolled Comanche Tribal Members. Income Limits are adjusted on an annual basis. The chart above is current as of April 2016. Please use this information to determine whether you meet the basic low income qualification prior to applying for any program offered by the CNHA. Other qualifications may be required for other programs.
The CNHA would like input from Comanche Tribal members. Whether you are a current tenant, or not, please complete this Survey. The CNHA thanks you for your time. |
