Fixed-Rate Mortgage (Conventional)

Count on consistent monthly payments and fixed interest rates for the rest of the life of the loan.

Adjustable Rate Mortgage (ARM)

Your interest rate changes at specific intervals. These loans typically feature lower introductory rates that adjust periodically throughout the life of the loan. If you are planning on owning your home for a short period of time, an ARM may be a good option. 

Hybrid ARMs can offer the best of both ARM and Conventional loans with lower interest rates like traditional ARMs and a fixed payment for a longer period of time than most adjustable rate loans.

Federal Housing Administration (FHA)

Designed for borrowers with a minimum down payment and lower credit scores. Also offers a 'streamline refinance' of an existing FHA loan with minimal documentation requirements.

Veterans Administration (VA)

Specifically reserved for active duty personnel, reservists and veterans, VA loans have little or no down payment requirements, no monthly mortgage insurance and provide up to 100% financing. Closing costs are limited by VA, and may be paid by the seller. This program also offers an interest rate reduction refinance of an existing VA loan with minimal documentation requirements.

HUD 184

Provides benefits such as lower down payments, interest rates and clost costs to members of Alaska Native and American Indian tribes. To receive a HUD 184 loan, you must be an enrolled member of a Federally Recognized Tribe.

USDA Rural Development

Provides up to 100% financing for qualified borrowers looking to purchase a home in specified areas of rural Alaska.

Non-Conforming or Jumbo

Available for properties in which conventional financing requirements aren't met, or loans greater than the area's conforming loan limits. 

Alaska Housing Finance Corporation (AHFC) Programs

Some lenders throughout Alaska are AHFC approved lenders. This means they can help you take advantage of these programs. If a lender is not a partner, they cannot offer you an AHFC loan program.

First Home

Provides lower interest rates to eligible first-time homebuyers without the income limits, acquisition cost limits or recapture provisions of the First Home Limited loan.

First Home Limited

Offers reduced interest rates to first-time homebuyers (borrowers who have not owed a primary residence in the last three years).

My Home

Available statewide for applicants or properties not meeting the particular requirements of other AHFC programs.

Renovation Loan

Offers financing options for renovations in conjunction with a purchase or refinance. Property appraisals and renovation cost estimates are required.

Rural

Financing to purchase or renovate owner-occupied or rental housing in small communities. Long-term financing is also available for owner-built, newly constructed homes or rental housing.

Uniquely Alaskan

This program is available for certain properties for which financing may not be obtained through private, state or federal mortage programs.

Veterans Mortgage

Qualified veterans may obtain financing at lower rates.