Supporting Veterans on the Road to Homeownership
For many Veterans, having stable housing can be a fundamental part of successfully transitioning to civilian life.
Access to resources for purchasing a home not only assists in their housing needs, it also acknowledges their achievements and sacrifices, ensuring they can build a stable future for themselves and their families.
Alaska's Veteran Population
Alaska has a sizable military and Veteran population, which makes having resources available to help purchase a home imperative.
The U.S. Census estimates there are nearly 62,750 Veterans in Alaska and in 2022 U.S. News and World Report noted that 11% of Alaska’s population were Veterans, the highest percentage in the nation. Veterans also comprise an estimated 15% of homeowners in the state, with nearly 39,000 homes occupied by former service members.
“Alaska Housing Finance Corporation is grateful to those Alaskans who have served their country and we are committed to helping qualified Veterans looking to become homeowners. This Alaska Housing loan program is unique in our state and available through AHFC approved lenders. It’s a resource we are pleased to provide Alaska’s Veterans.”
– Michelle Graves, AHFC Director of Mortgage Operations
Designed Exclusively for Veterans
Alaska Housing’s Veterans Mortgage Loan is designed exclusively for qualified current and former service members, within 25 years of active duty service discharge, to purchase owner-occupied, single-family residences. Alaska is one of five states authorized by federal law to offer this loan for veterans. It may include, with certain restrictions, a duplex, triplex or fourplex. Long-term financing is also available for newly constructed single-family homes built by the owner.
The Veterans Mortgage Loan offers a fixed interest rate that can be combined with a U.S. Department of Veterans Affairs guarantee or private mortgage insurance. These options can save qualified borrowers thousands of dollars if they’re not placing a down payment of 20% in urban areas or 10% in rural areas.