Step 5 of 5
Owning Your Home
Every monthly payment counts toward your purchase price. THI conveys your home to you when the balance is paid or when you have made every payment for your term, whichever comes first.
- 100% of each monthly payment goes toward your purchase price
- Section 184 loans can help you buy your home sooner
- Pueblo law still applies after the home is yours
Your purchase price
THI gives you a statement of your home's starting purchase price. How it is set depends on your agreement:
- Agreements signed before January 1, 2025: the price in your agreement, paid over the term it sets, up to 25 years.
- Agreements signed on or after January 1, 2025: the construction cost of the home, including utilities up to five feet from it. THI may cap the price to keep the home affordable.
- A home another homebuyer moved out of: the appraised value, or the remaining price plus any repair costs, as THI decides.
When your home becomes yours
THI conveys the title to your home, and any interest it holds in the land, when the balance is paid or when you have made all the payments your agreement requires, whichever comes first.
The entire monthly payment made by the homebuyer shall be applied towards the purchase price, even if a portion of the payment represents an administration charge.
Buying sooner
You can buy your home before the end of your term by getting a loan from an outside lender for the remaining price. HUD's Section 184 program guarantees home loans for American Indian and Alaska Native families, and THI posts the list of approved lenders.
Naming a successor
You name a successor when you sign your agreement, and you can change the name in writing at any time. Your successor must be an immediate family member and a tribal member, make the home their main residence, meet THI's eligibility rules and be able to make the payments.
After conveyance
THI is not required to insure a home after conveyance, so arrange your own homeowner's insurance. The home stays subject to the laws of the Pueblo of Santa Ana and any rules the Pueblo sets for residents' safety.