First Time Homebuyer Programs in Alaska

Alaska offers several programs to help first-time homebuyers achieve their goal of homeownership. These initiatives, provided through the Alaska Housing Finance Corporation (AHFC), offer financial support, competitive loans, and down payment assistance.

First Home Limited Program

The First Home Limited program provides lower interest rates for eligible first-time homebuyers.

• Income limits vary by location and household size.
• Offers fixed-rate loans with competitive terms.
• Available statewide through AHFC-approved lenders.

Tax-Exempt First-Time Homebuyer Program

This program helps reduce borrowing costs for eligible buyers by offering tax-exempt mortgage rates.

• Income and purchase price limits apply.
• Available to first-time homebuyers or those purchasing in targeted areas.
• Must be used for primary residence purchases only.

Closing Cost Assistance Program

To ease the upfront costs of purchasing a home, AHFC offers closing cost assistance grants.

• Provides up to 4% of the loan amount for eligible buyers.
• No repayment required if all conditions are met.
• Can be combined with other AHFC loan programs for added benefits.

With these options, first-time homebuyers in Alaska can take advantage of financial resources tailored to make homeownership more affordable and achievable.