Getting Started

Use this simple checklist to get started on the path to homeownership. Alaska Housing is here to help!

Alaska Homebuyer Checklist

☑ Explore Your Options

Check out Alaska Housing's loan programs and loan options. Alaska Housing has two loan programs just for first-time homebuyers and loan options that may reduce your interest rate.

☑ Take a no-cost homebuyer education class

HomeChoice™: Steps to Homeownership is now available online! Take this free course to learn all about the homebuying process. By completing the class you can earn up to $250 credit on any single-family loan product.

☑ Select an Alaska Housing-Approved Lender

Contact an Alaska Housing-Approved lender early in the process for a pre-qualification appointment.

☑ Gather Personal Information

Prior to your appointment, the lender you select will ask you to gather personal information. The list may include:

  • Current pay stubs for 30 days
  • Three years tax returns with W2s
  • Checking/savings account statements
  • List of credit cards and installment debt
  • Other documents as applicable (bankruptcy, divorce, etc.)

☑ Prequalify for a Mortgage

At the pre-qualification appointment, the lender will review information about your income and debts and assist you with completion of a mortgage application. They will discuss loan programs and types of financing and help you select the loan that best suits your needs. The lender also estimates your maximum mortgage amount and provides important disclosures required by law. Ask the lender about Alaska Housing’s loan options for first-time homebuyers, low-income borrowers, energy efficiency and qualified State Veterans. You may qualify for one or more.

☑ Shop for a Home

A real estate licensee can assist you in finding the right home, negotiating the sales price and scheduling a home inspection.

The loan process in brief

Loan processing begins after you sign a purchase agreement or sales contract with the seller. The lender verifies your income and payment histories, reviews your credit report and orders an appraisal of the property. The lender’s loan underwriter reviews all the information and determines loan approval. Following loan approval, the lender schedules loan closing where the final loan documents are signed. The next business day, documents are recorded, transferring ownership from the seller to you.