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RURAL OWNER OCCUPIED LOAN PROGRAM

AHFC Sponsored Program

Tlingit-Haida Regional Housing Authority administer's an AHFC Rural Owner Occupied Loan Program providing financing to construct, purchase, or renovate owner occupied single-family residences or duplexes. Properties must be located in small communities as defined in Alaska Statutes (AS) and Alaska Administrative Code (AAC) and Section 1003

Small community is defined as a community with a population of 6,500 or less, that is not connected by road or rail to Anchorage or Fairbanks, or a population of 1,600 or less that is connected by road or rail to Anchorage or Fairbanks and at least 50 statute miles outside of Anchorage or 25 statute miles outside of Fairbanks. In this definition, connected by road does not include a connection by the Alaska Marine Highway System or roads outside the boundary of the State of Alaska

Program Terms

Terms of Program Use Criteria

Tlingit-Haida Regional Housing Authority administers the Rural Owner Occupied Loan Program which is sourced by Alaska Housing Finance Corporation, comes with terms or conditions you are required to agree and adhere to during the commission of your application acceptance. The terms for this program are..

The proceeds of a Rural Occupied Loan may be used for the purchase, purchase/renovation, or the financing for owner/builder new construction of single-family or duplex housing to be owned by all eligible Alaskans both Native and non-Native.
Property must be located in a AHFC defined rural community.

Eligibility Requirements:

ELIGIBLE BORROWERS

Alaska residents who live in small communities that are defined as "Rural" by the Alaska Housing Finance Corporation. (AHFC)

ELIGIBLE PROPERTIES

Owner occupied single-family residences or duplexes with one unit occupied by the borrower as his/her primary residence. No more than 25% of the gross floor area may be used for commercial purposes.

LOAN TERMS

Maximum Loan Amounts change frequently. To view the current maximum loan limits, go to Alaska Housing Finance Corporation. (HERE)

Down Payment Requirements

Conventional
10% Single-Family and 10% Duplex

Term

15-year or 30-year

Interest Rate

Loan amounts exceeding $250,000, will receive a blended interest rate; calculated using the Rural Program rate for the first $250,000 and the Rural Program rate plus one-percent (1%) for the remainder.

What's next for me?

Let's get started.

The Tlingit-Haida Regional Housing Authority's Rural Owner Occupied Loan Program is available to the general public of Southeast Alaska that resides in a rural defined community, please read the eligibility requirements before downloading or submitting your application. The next step is to fill out the application and submit it to the Home Opportunity Program Manager. Here's your check list for required application information..

Fill out (URLA) Uniform Residential Application and release of Information authorization forms.
Completed and signed copies of IRS tax returns including W2 and wage schedule s for the past 3 years (both applicants if applicable).
Copies of your most recent paycheck stubs (both applicants if applicable).
Copies of last 2 months bank (savings, checking, etc) statements for all deposit accounts.
Copy(s) of valid and current driver's license (both applicants if applicable).

Should you have any questions, you may contact Jocelyn Ramirez or Mary Yurko in our Mortgage Loan Department at (907) 780-6868 or Email us HERE. You can deliver your application and associate required information (indicated above) to our main office at 5446 Jenkins Drive, Juneau Alaska 99801. You can also mail it to us at P.O. Box 32237, Juneau Alaska 99803-2237. You can also fax it to us at (907) 780-6895. Make sure you review your application in it's entirety and that you've included all necessary information, especially your signature before submitting it to us. Failure to do so may result in a longer processing time.

Download (URLA) Application Download Credit Verification