Down Payment & Closing Costs
Forgiveable Second Mortgage
Alaska Community Development Corporation (Alaska CDC)
$0.00
Alaska CDC
The Home Opportunity Program (HOP) provides assistance funds in the form of a zero-interest loan, with the first $10,000 conditionally forgivable over a five-year period. HOP assistance funding is very limited and will be available on a first-come, first-served basis. In addition to down payment assistance, applicants who qualify can receive up to $3,000 in closing cost assistance and a buy-down of the first mortgage, if necessary.
Only low-income, first-time homebuyers, are eligible; applicants must have an annual household income less than 80 percent of the area median income as determined and regionally adjusted by HUD. All homebuyers must also attend a homebuyer education class approved by Alaska Housing Finance Corporation (AHFC). The homebuyer may not be in arrears on any child support obligation.
Properties must be of non-luxury nature and must fall within the program’s purchase price limits for each area:
Mat-Su Borough: $234,000
Kenai Peninsula: $219,000
Glennallen, Valdez, Cordova: $202,000
Haines Borough: $197,000
Ketchikan: $247,000
Petersburg: $184,000
Wrangell: $183,000
Sitka: $330,000
Kodiak: $275,000
Juneau: $323,000
Only low-income, first-time homebuyers, are eligible; applicants must have an annual household income less than 80 percent of the area median income as determined and regionally adjusted by HUD. All homebuyers must also attend a homebuyer education class approved by Alaska Housing Finance Corporation (AHFC). The homebuyer may not be in arrears on any child support obligation.
Lori Tice
Alaska Community Development Corporation 1517 S. Industrial Way, #8 Palmer, Alaska 99645
9077465680
N/A