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Eagle Nest Homes Provides Homebuyers Program

Lakota Funds originally partnered with several corporations to develop and build Eagle Nest Homes located in Wanblee between 1994 and 1997. The homes were developed through a program known as the Low Income Housing Tax Credit Program.

This program allows for homes to be offered for rental at a lower than normal amount of rent, and can provide the renter with an opportunity to purchase the home at the end of the rental period. The Low Income Housing Tax rental period is a fifteen year time commitment.

Lakota Funds is coming close to the end of that fifteen year period, and is working with current residents of Eagle Nest Homes to prepare them to purchase their home, at the end of the rental period.

Lakota Funds has developed an Option to Purchase Program. Current residents that are interested in reviewing the possibility of purchasing their home are entering into an Option to Purchase Contract. This contract does not obligate or commit the resident to purchase the home, but provides the opportunity for them to purchase the home, if they decide to move forward with the purchase.

Lakota Funds has been holding monthly Homebuyer Club meetings. These meetings are offered for a period of an hour. The meetings present a variety of different topics regarding homeownership. To date, we have discussed how to be approved for a mortgage, how to complete a budget to prepare for homeownership, how to review home and life insurance needs, how to repair your credit, and how to increase your credit score.

This program will continue, as we want to work with any homebuyers on the reservation, who may be interested in purchasing a home. We are not limited to the services that we can provide, in preparing you to meet your homeownership dream. Currently Lakota Funds has 2 two bedroom houses vacant awaiting occupancy.

Homeownership is the quickest and easiest way to establish personal wealth. By purchasing a home, you can begin to develop a saving program, provide future housing for your children, and gain money on the value of the home, as you continue to pay for the home, and as the home increases in value.

The Lakota Funds is interested in working with you. Please contact the Lakota Funds office at 455-2500, if you have any questions.