Uniquely Alaskan Loan
Conventional financing is available for certain properties with characteristics or features that limit the borrower's ability to obtain other financing. Nonconforming features include, but are not limited to, an unconventional foundation system, unconventional utilities, lack of central heating or unconventional ceiling height. The home must be structurally sound and not pose health and/or safety hazards to the occupants. Alaska Housing may require reasonable repairs if the repairs eliminate the nonconforming feature and make the property eligible for other financing.
Nonconforming properties do not include those with limited marketability or those suffering from deferred maintenance, noncompliance with zoning, recreational properties or hunting and fishing cabins.
- Limited to owner-occupied single-family residences, duplexes, and Type I manufactured homes.
- Minimum down payment is 20%.
- Only borrowers with an existing nonconforming loan may refinance with this loan.
- Energy efficiency interest rate reduction
- Affordable Housing Enhanced Loan program
- Interest rate reduction for low-income borrowers
- Streamline refinance
How to Apply
- Contact an approved lender.