SS Memos 2022 Summary

Single-Family Seller/Servicer Memorandums - 2022

AHFC will no longer require the 1-4 Family Rider (FNMA/FHLMC 3170) to be included with the Deed of Trust on Single Family or Condo/PUD properties.

The buydown fees have been updated. The new pricing is effective for lock-ins submitted on or after March 21, 2022.

There is has been an update to clarify AHFC's minimum design requirement. AHFC has also updated the requirement on documenting earnest money deposits. A note has also been added the the Program Documentation under the Rural Non-Owner and Military Facility Zone Loan Programs.

The 2022 First Home Limited Income and Acquisition Cost limits have been announced.

AHFC is happy to announce that we will permit a non-occupying co-signer on certain loan programs and property types.

Homebuyer education certificates are now valid for three years. Clarification on AHELP requirements and non-occupying co-signers.

Servicing guide revisions to Custodial accounting, Cancellation of MI, Foreclosure recommendation, Sale proceeds remittance and USDA REO properties.

AHFC is happy to announce that we're adding a 365-day commitment term for new construction and renovation loans. We're also adding a 90-day extension option Urban programs. These options are available starting August 1, 2022.

Clarification memo on eligibility for an energy rate reduction.

Updated PFD calculations: AHFC will be using $183.25 per month.

The City of Fairbanks is now an approved Military Facility Zone. Please see Section 5014 for additional details of the program.

The UND-3 has been updated by adding a box to check for a non-occupying co-signer. The Rural Non-Owner Loan Program and the Military Facility Zone Loan Program have been updated to state "when a business is the purchaser on a transaction, AHFC requires the owner(s) of the business to be an Alaska resident.

If the borrower intends to add an individual to title and/or have them sign the Deed of Trust, the lender must verify that the individual will occupy the property and meets the First-Time Homebuyer requirements. The individual may not have had an ownership interest in a principal residence at any time during the three-year period prior to application to AHFC for commitment.

Added 2023 loan limits.