The Federal Home Loan Mortgage Corporation — more commonly known as Freddie Mac —  plans to launch a new mortgage product designed to support homeownership among Native Americans.

The new HeritageOne program will provide affordable financing options for single-family properties on tribal lands in rural areas. The program will also provide financial counseling and other resources to members of Native American tribes, especially first-time homebuyers.

To qualify for a HeritageOne mortgage, at least one borrower in the household must be an enrolled member of a federally recognized Native American tribe who will occupy the property as a primary residence.

Read the full article from Tribal Business News, here.