Closing Cost Assistance Program
AHFC's Closing Cost Assistance Program, provides a competitive, 30-year fixed interest rate with closing assistance. Assistance of either 3 or 4 percent of the loan amount is available, depending on credit qualifications, to homebuyers throughout the state of Alaska.
- Sign up for a freeHomeChoice class to learn more about thehomebuying process and how AHFC can help you.
- Talk to an AHFC-approved lenderto find out how you can benefit from AHFCs Closing Cost Assistance Program.
AHFC's Closing Cost Assistance Program Brought Barbara Close to Family
Barbara Esquibel was living thousands of miles from her family when she decided to make the move to Alaska. Without knowing it, she became the first person to use AHFC's Closing Cost Assistance Program. She now lives in a home on an acre lot with a gorgeous view. Find out if you can benefit like Barbara did.
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 AHFC at the time of closing.
Whats the interest rate?
The rate is subject to change daily. Visit AHFC'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 ourapproved lenderspage.
Please contact AHFC Mortgage Operations
907-330-8400 or toll-free at 888-854-3884
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