AHFC Offers Down Payment Assistance To Alaskans

Learn About DPA Programs Available To You

First time home buyers in Alaska have many options available to them for help in purchasing their first residence. If you feel that saving enough for a down payment will forever prevent you from buying your first residence, here’s some great news. The Alaska Housing Finance Corporation (AHFC), offers down payment assistance for first time home buyers in AK.




Alaska Down Payment Assistance
Alaska Down Payment Assistance

Alaska DPA Details

Help coming up with the needed down payment is perhaps the greatest resource that you can tap into as a first time home buyer. Here are some details from the AHFC website:

Affordable Housing Enhanced

The Affordable Housing Enhanced Loan Program (AHELP) option is designed to work in partnership with other agencies to promote affordable home ownership.  It is a program that helps AHFC meet our core mission to provide quality, safe, affordable housing, and serving low to moderate income Alaskan borrowers. Homeownership helps to improve the quality of life for families and individuals and it strengthens neighborhoods and communities.

With the AHELP option, qualified borrowers receive down payment assistance or secondary financing from a local, state or federal governmental agency, nonprofit agency or regional housing authority.

The assistance may be a grant, deferred payment(s), a forgivable loan or a combination and may come from a governmental agency, nonprofit agency or regional housing authority. Borrowers must meet the provider’s requirements.

Additional Considerations

  • Borrowers may not own other residential real property in the same general area.
  • Eligible properties are limited to owner-occupied single-family homes, condominiums, units in a Common Interest Community and Type I manufactured homes.
  • Homes built before June 30, 1992, must be inspected by an authorized home inspector.
  • Borrowers must participate in an approved homebuyer education class. If there are two borrowers, only one is required to complete a class.

Nonprofit organizations that provide down payment assistance

The following organizations provide down payment assistance to borrowers purchasing homes with AHFC’s AHELP loan option. Funds are subject to availability, and borrowers must meet the organization’s guidelines.

ANCHORAGE AREA

Cook Inlet Lending Center
3510 Spenard Road, Suite 102
Anchorage, AK 99503
907-793-3058
907-793-3079 (fax)
Email: info@cookinletlending.com
http://www.cookinlethousing.org/cook-inlet-lending-center/

Anchorage Neighborhood Housing Services, Inc. dba NeighborWorks® Alaska
2515 A St
Anchorage, AK 99503
907-677-8490
http://www.nwalaska.org/

North Pacific Rim Housing Authority
8300 King Street
Anchorage, AK  99518
907-562-1444
907-562-1445 (fax)
http://www.nprha.com/index.htm

SOUTHCENTRAL (EXCLUDING ANCHORAGE)

Alaska Community Development Corporation (ACDC)
1517 S. Industrial Way, Suite 8
Palmer, AK 99645
907-746-5680
907-746-5681 (fax)
www.alaskacdc.org

FAIRBANKS AREA

Fairbanks Neighborhood Housing Services (FNHS)
534 10th Ave.
Fairbanks, AK 99701
907-451-7230
907-451-7236 (fax)
www.fnhs.org

Interior Regional Housing Authority (IRHA)
828 27th Ave.
Fairbanks, AK 99701
907-452-8315
907-456-8941 (fax)
www.irha.org

SOUTHEAST

Alaska Community Development Corporation (ACDC)
1517 S. Industrial Way, # 8
Palmer, AK 99645
907-746-5680
907-746-5681 (fax)
www.alaskacdc.org

Tlingit-Haida Regional Housing Authority (THRHA) and/or Haa Yakaawu (for NHASDA only)
5446 Jenkins
Juneau, AK 99803
907-780-6868
907-780-6895 (fax)
www.thrha.org

To get complete program details, including income limits as well as how to get the application process started, please visit this AHFC DPA program page.





More Down Payment Assistance

In addition to the above DPA program offered by AHFC, there are local housing agencies in various towns, cities and counties throughout the state that provide financial assistance to prospective 1st time property buyers as well. To find out about more down payment assistance available in your specific area, please visit local programs for 1st time buyers in Alaska.