HOME LOAN PROGRAMS

HOME LOAN PROGRAMS

Conventional (private) mortgage programs

A conventional mortgage is any conforming loan program offered by a private lender that follows the terms and conditions set by either Fannie Mae or Freddie Mac.

  • 3 and 5 percent down payment options available
  • No private mortgage insurance after 20 percent equity
  • No income restrictions
  • Fixed 15- and 30-year terms, 5/1 ARM
  • Single-family to four-unit
  • Contact a Home Loan Originator for loan limits in your area

Alaska Housing Finance Corporation (AHFC) loan programs

Alaska Housing Finance Corporation (AHFC) offers a variety of loan programs, from single-family and multi-family loans to loan options and other programs in both urban and rural areas.

  • Flexible, make sense guidelines for Alaskan properties
  • Low private mortgage options apply
  • Closing Cost Assistance Program
  • Lower interest rates to eligible first-time homebuyers
  • Rural Programs
  • Tax exemptions for income-qualified

USDA Rural Development (USDA RD) Guaranteed Housing Loan Program

The USDA Rural Development (USDA RD) Guaranteed Housing Loan Program is primarily used to help low-income individuals or households purchase homes in rural areas.

  • Zero down payment options
  • Private mortgage rates apply
  • Lower interest rates to eligible first-time homebuyers
  • Only available in designated rural areas
  • Income restrictions apply
  • Nontraditional credit accepted
  • Fixed-rate 30-year mortgage

VA Mortgage Loan Program

The VA mortgage loan program was established by the United States Department of Veterans Affairs to help veterans and their families obtain home financing.

  • No minimum down payment
  • No Private Mortgage Insurance
  • Great Interest Rates
  • Must be a veteran or active military member
  • Loan limits vary per area
  • 30-15 year fixed terms

HUD 184

The Section 184 Indian Home Loan Guarantee Program is a home mortgage product specifically designed for American Indian and Alaska Native families, Alaska villages, tribes, or tribally designated housing entities.

  • 2.25 percent minimum down payment
  • Low Mortgage Insurance options
  • 30-year fixed terms
  • Low interest rates
  • Must be a member of a federally recognized tribe, village, or corporation

Federal Housing Authority

An FHA loan is a mortgage issued by federally qualified lenders and insured by the Federal Housing Authority. FHA loans are designed for low-to-moderate income borrowers who are unable to make a large down payment

  • 3.5 percent minimum down payment
  • Mortgage insurance required for the life of the loan
  • 1.75 percent upfront financed funding fee
  • Low interest rates
  • Less strict debt-to-income ratios
  • More flexibility with credit issues