Down Payment Assistance (DPA) Loan via AHFC's AHELP program
Cook Inlet Lending Center (AHFC-approved nonprofit partner; parallel providers include Alaska Community Development Corporation, Interior Regional Housing Authority, and Tlingit-Haida Regional Housing Authority for other regions)
Amount: Second mortgage up to $75,000, capped at 20% of purchase price. Fully repayable (not forgivable) — fixed rate, 30-year term (example given: $50,000 at 5% fixed / 5.12% APR = $268.41/month)
Type: Repayable second-mortgage down payment/closing cost assistance, used alongside an AHFC first mortgage (AHELP)
Credit score minimum 620; household income up to 150% of Area Median Income (effective 5/1/2026: statewide 1-person $126,450 up to 8-person $238,200; Anchorage limits are higher, e.g. 1-person $141,900 up to 8-person $267,600); must not have owned a home in the last 3 years; must complete homebuyer education; property must be owner-occupied single-family, condo, PUD, CIC unit, or Type I manufactured home
Home$tart Grant
Cook Inlet Lending Center (AHFC-approved partner; must be paired with a Cook Inlet Lending Center first mortgage application)
Amount: $15,000 grant per household toward down payment, closing costs, and prepaid expenses
Type: Grant with 5-year owner-occupancy requirement (subject to recapture/proration if the home is sold or vacated before the 5-year term, consistent with standard FHLB-funded grant structures; borrower should confirm exact recapture schedule with lender)
Must be a first-time homebuyer; household income below 80% of HUD Area Median Income (effective 5/1/2026: statewide ranges from $67,400 for 1 person to $127,050 for 8 people; Anchorage higher, $74,800 to $141,000); owner-occupancy for 5 years; property limited to 1-4 unit residential; homebuyer education required; one grant per household
Native American Homeownership Initiative (NAHI) Grant
Cook Inlet Lending Center (AHFC-approved partner)
Amount: $25,000 grant per household toward down payment, closing costs, and prepaid expenses
Type: Grant with 5-year owner-occupancy requirement (not explicitly confirmed as first-time-buyer-only; open to eligible Alaska Native/American Indian/Native Hawaiian applicants statewide)
Must be Alaska Native, American Indian, or Native Hawaiian with tribal enrollment card or corporation shareholder letter; household income below 80% of NAHASDA Area Median Income limits; 5-year owner-occupancy; 1-4 unit property; homebuyer education required; one grant per household; first mortgage must be in process with Cook Inlet Lending Center
Home Opportunity Program (HOP)
Alaska Community Development Corporation (statewide except Municipality of Anchorage), an AHFC-approved intermediary
Amount: Up to $30,000 total assistance: down payment assistance plus up to $3,000 in closing cost assistance plus a possible first-mortgage rate buy-down; the first $10,000 is conditionally forgivable over a 5-year period, with any remaining balance structured as a zero-interest loan repayable at sale/refinance
Type: Partially forgivable zero-interest loan (first $10,000 forgiven over 5 years of continued ownership/occupancy; note AHFC's own program page currently states there is no new grant funding available for additional allocating agencies, so funding availability should be confirmed before relying on this program)
Household income below 80% of HUD area median income (regionally adjusted); cannot own another home and must occupy the HOP-assisted home as primary residence; must obtain first mortgage through a participating lender; property must be non-luxury and, if built before 1978, pass a lead-based paint assessment; cannot be in arrears on child support; must complete HUD-approved homebuyer education; credit score minimum not published — confirm with administrator