Eagle Nest Housing
In 1997 Lakota Funds made history by creating the first Native American, tax credit financed, low-income housing project in America. From 1997 to 1999, thirty single-family homes were constructed to create Eagle Nest Housing just outside of Wanblee, South Dakota. Since then, these low-rent units have been available to qualifying families on the Reservation.
However, we are currently working to convert these units from rentals to privately-owned homes. Tenants have the opportunity to purchase their homes, which will create an asset that future generations will benefit from.
Home Buyer Education
As part of our homeownership conversion efforts in the Eagle Nest Housing neighborhood, we are delivering financial education, homebuyer education, and post purchase education classes to residents to inform them of the benefits and responsibilities of homeownership (includingmaintenance and post-purchase budgeting).
Home Buyer Education
This course helps individuals and families gain confidence in handling the process of buying a home. Students learn:
- What lenders consider when deciding whether a borrower is creditworthy
- The types of loan programs available
- Fees involved with the purchase of a home
- Who the professionals in the home-buying process are
- Legal documents required when buying a home
These classes are designed for home buyers who want to protect their investment and be sure they have a successful homeownership experience. Topics include:
- Maintaining and repairing a home
- Improving budgeting skills
- Maintaining good credit
- Insurance basics
Increasing Homeownership Opportunities
With a severe housing shortage in many reservation communities, homeownership is a multi-faceted and complex issue. Lakota Funds has taken a leading role in the South Dakota Native Homeownership Coalition, serving on the Executive Team as well as the fiscal sponsor. The Coalition brings together stakeholders from diverse backgrounds to increase access to resources and create a clear path to homeownership. We foster a collaborative environment between nonprofit, local, state, federal, and tribal entities to increase opportunities for Native Americans throughout the state.
At the local level, we are an active participant in the Sustainable Homeownership Project (SHOP) and work intensively with Mazaska Owecaso Otipi Financial as well as Thunder Valley Community Development Corporation to ensure that home buyers are connected to resources and have access to capital as they pursue their dreams of homeownership.