Next STeps
Buying a Home
Assess Your Finances
Before purchasing a home, review your financial situation.
Key Steps:
Determine your budget based on income, savings, and expenses
Consider additional costs such as:
Homeowners insurance
Maintenance
Property taxes (if not on tribal trust land)
Check your credit score
Address any credit issues before applying
Mortgage Pre-Approval:
Getting pre-approved helps you:
Understand how much you can borrow
Strengthen your offer when buying a home
Research Financing Options:
Mille Lacs Band One-Time Home Loan Program:
Requires application and qualification: millelacsband.com/government/resources1/housing
Must meet income and debt-to-income requirements
Currently has a waiting list
HUD 184 Loan Program:
Available for Tribal fee or trust land
Offered through lenders such as Woodlands National Bank: woodlandsnationalbank.com/home-mortgages
Other Financing:
Homes off Tribal land may be financed through any lender of your choice
If approved and purchasing on Tribal fee or trust land:
Contact the Real Estate Department to apply for a land lease
Search for a Home
Once financing is in place:
Consider:
Number of bedrooms
Yard size
Garage space
Location
Schedule Showings and Take Notes On:
Property condition
Features you like and dislike
Make an Offer
After Selecting a Home:
Submit a formal offer
Negotiate price and terms if needed
Most Lenders Require:
A home inspection
An appraisal
These steps help protect both the buyer and seller.
Close the Sale
Once Your Offer is Accepted:
Final contracts and legal documents are signed
The sale is completed and processed
You receive the keys to your new home
At this point, you are officially a homeowner.
Contact
If there are questions regarding the MLBO Housing Department Home Loan program, contact Jamie Walock, 320-733-8272
If there are questions regarding the MLBO Land lease process, contact Brandi Sam, 320-364-3969
If there are questions regarding the HUD 184 Loan program, contact Woodlands National Bank, 888-532-4142