Are there any special mortgage programs for Native Alaskans?


by hermina , in category: Real Estate , 8 months ago

Are there any special mortgage programs for Native Alaskans?

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1 answer

by emilie.windler , 6 months ago


Yes, there are special mortgage programs available for Native Alaskans. The Alaska Housing Finance Corporation (AHFC) offers mortgage programs designed specifically for Alaska Native and Native American borrowers. These programs include the Rural Owner-Occupied Loan Program and the Section 184 Indian Home Loan Guarantee Program.

The Rural Owner-Occupied Loan Program provides low-income Native Alaskans with financing options to purchase or build homes in rural Alaska. It offers low-interest rates and flexible repayment terms to make homeownership more affordable.

The Section 184 Indian Home Loan Guarantee Program, on the other hand, is a federal program available to eligible Native Americans, Alaska Natives, and Native Hawaiians. This program provides guaranteed loans for the purchase, construction, or renovation of homes on Native American trust lands or in designated areas.

Both of these programs aim to increase homeownership opportunities for Native Alaskans and provide affordable mortgage financing options. It is recommended to contact the Alaska Housing Finance Corporation or visit their website for more information about these programs and their eligibility requirements.