Rural Housing Loan First in Nation.

• Position: Brief Article - Statistical Data Included

People in the remote western Alaska community of Mountain Village are looking forward to new homes this year, thanks to a special loan program designed to help Native American tribes create affordable housing in their own communities,

The Asa'carsarmiut Tribal Council of Mountain Village is the first tribe in the country to take advantage of the Title VI loan program, and First National Bank is the first bank in the nation to make this type of loan to a tribe.

The Title VI loans allow tribal councils to borrow up to five times the amount of their annual block grants for housing to finance HUD-approved...