Our Homeownership Center is your one-stop-shop!
There are dozens home loan types, and hundreds of variables to consider when trying to decide how to purchase, but only one loan is right for you. We make finding that right loan quick and easy to contact one of our mortgage specialists today to get started!
Down Payment Assistance
NeighborWorks Down Payment Assistance Program helps make homeownership possible for first-time homebuyers of moderate income by filling the gap between what you can afford and the cost of housing.
A first-time homebuyer is someone who has not owned a primary residence in the last three years. NeighborWorks Alaska offers two programs for first-time homebuyers, the Alaska Housing Finance Corporation (AHFC) Tax-Exempt and the Taxable First-Time Homebuyer.
Tax-Exempt First-Time Homebuyer Program
The Tax-Exempt Program (TEP) offers lower interest rates to eligible first-time homebuyers who meet maximum income limits and acquisition cost limits. First-time homebuyers may be eligible for an interest rate reduction and the NeighborWorks Alaska Down payment assistance program to help provide the down payment and eliminate the need for mortgage insurance saving you money every month.
Taxable First-Time Homebuyer Program
This first-time homebuyer program offers a reduced interest rate to eligible borrowers. Unlike the tax-exempt program, there are no maximum income or acquisition cost limits.
Home Improvement Loans:
Are you ready to repair, renovate, or improve your home?
NeighborWorks Alaska offers the AHFC renovation loan options covering three possible scenarios:
1) Purchase Renovation
- Renovations in conjunction with a purchase
2) Second for Renovation
- Improvements to a home you already own
.3) Refinance Renovation
- Incorporates renovations into a new loan.
Who is Eligible?
Owner-occupied single-family residences, duplexes, triplexes, fourplexes, condominium units