Are there any special mortgage programs for Native Alaskans?

@hermina 

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.

@hermina 

Additionally, the United States Department of Agriculture (USDA) offers a Native American Direct Loan (NADL) Program for eligible Native American veterans, including Alaska Natives, to purchase, construct, or improve homes on Federal Trust Land. This program provides direct loans with competitive interest rates and no down payment requirement. Eligible veterans must be enrolled members of a federally recognized tribe and have a valid Certificate of Eligibility.

It is recommended to contact the USDA or a participating lender to inquire about the NADL Program and its eligibility requirements for Alaska Native veterans. These special mortgage programs aim to support Native Alaskans in achieving homeownership and access to affordable housing options.