There’s No Place Like Home

August 13, 2025 at 8:00am in Community, Homeownership

Dorothy Gale’s famous phrase from the Wizard of Oz speaks straight to the heart of the matter for new homeowner Audrey. Frankly it represents a dream come true; there really is no place like home - especially one you own.

As a new homeowner of a condo in east Anchorage, Audrey credits Alaska Housing Finance Corporation’s free homebuying education classes for helping her achieve her goals and find a home of her own. While her homebuying process wasn’t quite as simple as clicking her heels, Audrey found that expert insights helped her move forward with confidence and make her dream a reality.

“I am so grateful that there are programs designed to truly help people understand the process, pinpoint goals and establish a plan,” she says.

“AHFC’s homebuyer education classes showed me what is possible and set me on a solid path of success - and the classes are free!”

Taking Charge

In fall 2024, Audrey’s landlord sold their property and the new owners wanted to remodel. A single mom, Audrey was tired of renting and not having enough space for her and her son but was unsure of her options. A decade earlier she considered taking AHFC’s free homebuying education classes and in fact had enrolled but the timing was wrong. Hitting a wall with credit and income issues, she determined being a homeowner wasn’t in the cards for her.

Fast forward 10 years and Audrey’s situation completely changed. She had dedicated efforts to address and improve her credit score, had a higher income and accumulated savings; what she once thought impossible suddenly had new potential. Audrey reached out to a REALTOR® she had met years earlier through a friend, John Wakefield of RMG Real Estate, to explore the possibilities. Working together they reviewed her new circumstances, discussed assistance programs, crunched numbers and began laying a foundation of possibilities. As a real estate agent, Wakefield was familiar with several of AHFC’s programs and encouraged her to reconsider AHFC’s free homebuying education classes to arm herself with in-depth knowledge and become better informed as to the ins and outs of becoming a homeowner.

“Working with past clients, I knew first-hand the positive outcomes of AHFC’s classes, which really educate people on every aspect of the process and provide templates aiding solid financial planning and budgeting to prepare future homeowners,” says Wakefield.

He also helped her explore options like down payment assistance. It was Wakefield who helped Audrey realize that owning a home could be possible.

“We started the process in November of 2024 and John was amazing - his guidance, connections to resources and knowledgeable people and professional support really helped me imagine a new future,” says Audrey.

Benefits of working with a real estate professional:

Saves time
Connects prospective buyers with knowledgeable people
Leads clients through the right steps at the right time
Expertise and guidance

An A+ Education

Audrey enrolled in AHFC’s free homebuyer education class again in December 2024. She was particularly interested in how she could best leverage available financing and ensure manageable payments.

Her experience this time around was totally different. The class gave a comprehensive overview of the homebuying process from start to finish covering a range of critical topics such as the pros and cons of renting vs. owning a home, loan types, interest rates, tips on what to look for, managing closing costs and more. Most importantly, the classes focused significant time on improving one’s financial literacy supported with in-depth budgeting templates and worksheets.

A booklet, provided to all class participants, was another tremendously valuable planning tool for Audrey, providing extensive details and scenarios related to every aspect of the homebuying process. Knowledgeable speakers kept the class lively and moving along, especially the friendly and approachable main instructors, Patrick and Savannah, who patiently answered questions and led class discussions.

“The classes really help you every step of the way and for me took away some of the fear, anxiety and stress of buying a home. They also gave me confidence that my finances were in order - I had enough to make my dream possible, and I am worthy of being a homeowner.”– Audrey, homebuyer, Anchorage

Soon after completing AHFC’s classes, she qualified for a down payment assistance loan and shortly after found the perfect home. She moved in spring 2025. Audrey’s first step toward making the house her home? Adopting a shelter dog, an American Bully named Jameson. It was a previously impossible dream, now realized as a homeowner.

Her young adult son watched her through the entire homebuying process and perhaps had the best observation, “Good job mom, you are a homeowner!”

Audrey’s advice for prospective homebuyers?

Know your numbers - what can you afford
Investigate different assistance programs and loan types
Save money in advance - start early
Take AHFC’s free homebuying classes - the wealth of knowledge banked is homeowner gold!
Keep your dream alive

Alaska Housing does not endorse lenders or real estate licensees, but we are pleased to highlight individual experiences of partnership. Thank you to John Wakefield of RMG Real Estate for participating in this blog post.