Everyalaska

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FHA A Federal Housing Administration (FHA) loan is a government loan that requires the borrower to invest as little as 3 percent in the purchase of a property in Alaska. Eligibility properties include single-family dwellings, including condominiums and planned uni-developments, and 2 to 4 unit properties, as long as the borrower occupies one unit. CONVENTIONAL A Conventional loan requires as little as 3 percent down payment and with a 20 percent down payment mortgage insurance is not required. Financing is available for owner-occupied primary residences, second/vacation homes, and investment properties. We offer fixed and adjustable rate mortgages. VA A Veterans Administration (VA) loan is available for eligible veterans and requires no down payment for loan amounts up to $240,000. Active duty and prior service veterans from all branches of service including those in the Reserves or the National Guard, and certain Public Health Services officers, could be eligible for this loan. TAX-EXEMPT FIRST TIME HOMEBUYER Buyers who have not had ownership interest in a primary residence in the last three years could be eligible for a lower interest rate through Alaska Housing Finance Corporation’s (AHFC) Tax-Exempt First Time Homebuyer Program. This program may be combined with FHA, VA, Conventional or Rural Development loans to provide a lower interest rate for borrowers who meet the income and acquisition cost limitations set by the program. Available only for owner-occupied single-family residences, including condominiums, and duplexes. TAXABLE FIRST TIME HOMEBUYER This new Alaska Housing Finance Corporation (AHFC) program provides a lower interest rate for buyers who have not had ownership interest in a primary residence in the last three years. However, it does not have the acquisition cost limits or recapture provision like the Tax-Exempt First Time Homebuyer Program. Income limits still apply. This program may be combined with FHA, VA, Conventional or Rural Development loans and is available for single-family residences and duplexes. Taxable First Time Homebuyer This new Alaska Housing Finance Corporation (AHFC) program provides a lower interest rate for buyers who have not had ownership interest in a primary residence in the last three years. However, it does not have the acquisition cost limits or recapture provision like the Tax-Exempt First Time Homebuyer Program. Income limits still apply. This program may be combined with FHA, VA, Conventional or Rural Development loans and is available for single-family residences and duplexes.Veterans Mortgage Program Veterans who entered into active duty prior to January 1, 1977 and who have not been discharged more than 30 years may be eligible for a lower interest rate through Alaska Housing Finance Corporation

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