Military Zone Designation Can Boost Fairbanks Housing
Alaska Housing Finance Corporation is excited to announce that the City of Fairbanks is now an approved Military Facility Zone, which allows borrowers to take advantage of our Military Facility Zone Program.
The Military Facility Zone Program provides a financing option to investors building housing within approved zones, with the goal of expanding infrastructure to support military and civilian residents.
The proximity of Fairbanks to Fort Wainwright and Eielson Air Force base makes it a hub for military personnel and their families.
Opportunity for Housing Development
The addition to the Military Facility Zone Loan Program will allow for increased financing opportunities to investors building two- to four-unit residences in the Fairbanks area. Previously, North Pole was the only Alaska city designated as a military facility zone.
The loan is available through participating private sector banks, credit unions and mortgage companies. This program began on September 1, 2021 and will end on June 30, 2024. Daily interest rates are viewable on AHFC’s website.