Up to $30,000 total. First $10,000 forgivable over 5 years at 0% interest. For buyers under 80% AMI.
Alaska's Home Ownership Preparedness program offers up to $30,000 in total assistance, with $10,000 available as a forgivable grant. The remaining assistance comes as a deferred second mortgage. For a state where median home prices in Anchorage approach $400,000, this level of DPA can make the difference between renting and owning.
The forgivable portion rewards buyers who stay in their homes — meet the occupancy requirements and $10,000 simply disappears from your balance. The program requires completion of homebuyer education and works with AHFC's first mortgage products.
We'll show you how to combine Home Opportunity Program (Alaska) with other programs to maximize your free money — personalized to your ZIP code and income.