Multifamily Congregate and Special Needs
How the Program Works
The Multifamily Congregate and Special Needs program promotes affordable housing for persons of lower to moderate income for the purpose of development, acquisition, rehabilitation and refinance.
- Taxes, insurance and replacement reserves are collected monthly.
- Minimum debt service coverage ratio is 1.2 percent.
- Unit Set-Asides: 20 percent of the units for tenants at 50 percent of median income or less and 40 percent of the units for tenants at 60 percent of median income.
Potential Borrowers may contact
Multifamily Underwriter II
800-478-2432 (outside Anchorage, but within Alaska)
Alaska Housing Finance Corporation
4300 Boniface Parkway
P.O. Box 101020
Anchorage, AK 99510-1020