Closing Cost Assistance
Alaska Housing's Closing Cost Assistance loan, provides a competitive 30-year fixed interest rate with closing assistance.
Frequently asked questions
How does it work?
Each homebuyer will receive assistance, depending on credit qualifications, up to 4% of the initial principal balance of the mortgage loan. For example: If receiving 4% assistance on a $300,000 mortgage loan, the assistance equals $12,000; if receiving 3% on $300,000, the assistance equals $9,000. The assistance funds may be used toward a down payment and closing costs. Closing cost assistance is funded directly by Alaska Housing at the time of closing.
What's the interest rate?
The rate is subject to change daily. Visit Alaska Housing's Current Interest Rates page for today's rates.
Who is it for?
Alaska residents with a minimum credit score of 640. Income limits, purchase price limits or first-time homebuyer requirements do not apply. Homebuyers are not subject to Recapture Tax.
What loans are eligible?
All Federal Housing Administration (FHA), Veterans Affairs (VA) and U.S. Department of Agriculture Rural Development (USDA-RD) 30-year, fixed rate loans. Loans are valid for single family, owner-occupied residence purchases only. Refinance loans are not permitted.
What lenders are participating?
You can view which lenders are participating through our approved lenders page.
Please contact Alaska Housing Mortgage Operations
907-330-8400 or toll-free at 888-854-3884
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