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Find Homeownership Incentives

Affordable Housing Enhanced Loan Program (AHELP)

First Time Homebuyers Low to Moderate Income (LMI) Down Payment Assistance (DPA)

Type Of Program

Down Payment

Program distribution

Forgiveable Second Mortgage

Program Originator

Alaska Housing Finance Corporation

Amount

$0.00

Contact

Alaska Housing Mortgage Operations 907-330-8400 or toll-free at 888-854-3884

Blocks

Location
Nationwide
Mortgage Lender

Kwasi Frye

Description

The Affordable Housing Enhanced Loan program (AHELP) is designed to work in partnership with other agencies to promote affordable homeownership. It helps Alaska Housing meet its core mission of providing quality, safe, affordable housing, and serving low to moderate-income Alaskan borrowers. Homeownership helps improve the quality of life for families and individuals and strengthens neighborhoods and communities.

 

With AHELP, qualified borrowers receive down payment assistance or secondary financing. The assistance may be a grant, deferred payment(s), a forgivable loan or a combination of these options and may come from a local, state or federal governmental agency, nonprofit agency, or regional housing authority. Borrowers must meet the provider's requirements.

 

  • Borrowers may not own other residential real property in the same general area.
  • Eligible properties are limited to owner-occupied single-family homes, condominiums, units in a Common Interest Community, and Type I manufactured homes.
  • Homes that are 10 years old or older must be inspected by an authorized home inspector.
  • Borrowers must participate in an approved homebuyer education class. If there are two borrowers, only one is required to complete a class.

 

AMI Limit

No

AMI

$75,463

Employer Participation Required

No

Must Earn Counseling Certificate

No

Eligibility Limitations

Homebuyers must work with any of the approved lenders and are required to meet the individual provider's requirements. The AHELP assistance program is specific to owner-occupied single-family homes, condominiums, and Type I manufactured homes.

Cash Sale Permitted

No

Cosigner Permitted

No

Owner Financing Permitted

No

Must be Primary Residence

No

Program Provider's Contact Name

Alaska Housing Finance Corporation

Program Provider's Address

4300 Boniface Parkway Anchorage, Alaska 99504

Program Provider's Phone

9073386100

Program Provider's Email