Whether you're looking for better terms or want to invest in some home improvements, Alaska Housing makes refinancing your home fast and simple. Refinance loans are available for both existing Alaska Housing loans as well as loans financed through other lenders.

Streamline Refinance program for current Alaska Housing borrowers

This program makes it easy for current Alaska Housing borrowers to refinance their existing loan. There is no appraisal or credit package required (some exceptions may apply). Although current owner-occupancy is not necessary, the original loan must have been made to an owner occupant.

Additional Considerations

  • The Alaska Housing loan must be current at closing.
  • The borrower may not receive cash back at closing except for actual documented prepaid closing costs.
  • Interest rate reductions such as EEIRR, IRRLIB and State Veterans Preference are not available on a Streamline Refinance.
  • The HomeChoice waiver may not be used on a Streamline Refinance.

Loan Options

  • None available

How to Apply

Refinance program for non-Alaska Housing loans

Regardless of whether or not the borrower's property is currently financed by Alaska Housing, this program allows borrowers to improve the terms on their existing loan and/or obtain funds for renovations or home improvements (some restrictions apply). The original loan may be a first or second lien. If there are two liens, the first and second may be consolidated.

Additional Considerations

  • The maximum loan amount is limited to the current unpaid principal balance plus up to 30 days unpaid interest and new loan closing costs (not to exceed current Alaska Housing, VA, FHA and RD limits).
  • The cost of renovations or improvements may be included subject to insurer/guarantor approval.
  • Non-Alaska Housing loans may be refinanced using the My Home program or Rural Owner-Occupied program.
  • Borrowers may not receive cash back at closing except for reimbursement of prepaid allowable closing costs.
  • The HomeChoice waiver may not be used on a Refinance program loan.


How to Apply