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In an attempt to give our borrowers a chance to use Tribal Credit for more than just real estate loans, we have decided not to count performing real estate loans against total borrowed, if a borrow meets the following criteria: 

  1. The borrower's real estate loan(s) with Tribal Credit are performing without any slow pays for at least 24 months which includes insurance and taxes
  2. The borrower has 93% or less loan to value(LTV) with current real estate loan(s) to Tribal Credit
  3. The borrow has a loan grade of a number #2 or #1 (equates to an approximate Beacon score of 700 or higher
  4. The borrower has no pending items on any Tribal Credit loans
  5. The borrower is current on payments and loan debt level as these payments and loan debt were established by the original amortization schedule.

An example of how this loan program and qualifiying would work is as follows:  If a Tribal Credit borrower has a $200,000 home loan with Tribal Credit and no other outstanding debt with Tribal Credit and the borrower meets the criteria in the (1) - (5) of the previous paragraph, the borrower would be eligible for consideration for $250,000 in more loans (most likely a commercial loan) as long as the borrower qualified.  If a separate customer had a similar $200,000 loan but did not meet one or more of the (1) - (5) criteria, the customer would not be eligible for this change in our General Loan Policy.  For example, if the customers met all the criteria but did not pay their taxes in a timely manner (a failure to meet criteria item #1) the customer would not be eligible.

Not everyone will be eligible for this change, but it will allow Tribal members with better credit and paying habits to use us for more than just home loans.  If you have any questions, please contact John Smith at (509) 634-2664.


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