Our Homeownership Center is the one-stop-shop!
You will find dozens mortgage loan kinds, and a large number of factors to take into account when wanting to regulate how to shop for, but just one loan is suitable for you. We make discovering that loan that is right and simple to get hold of certainly one of our home loan experts today to begin with!
Advance Payment Assistance
NeighborWorks Down Payment Assistance system helps make homeownership feasible for first-time homebuyers of moderate earnings by filling the gap between everything you are able to afford as well as the price of housing.
A first-time homebuyer is somebody who has perhaps not owned a primary residence within the last few 36 months. NeighborWorks Alaska provides two programs for first-time homebuyers, the Alaska Housing Finance Corporation (AHFC) Tax-Exempt as www.speedyloan.net/reviews/check-n-go/ well as the Taxable First-Time Homebuyer.
Tax-Exempt First-Time Homebuyer Program
The Tax-Exempt system (TEP) provides reduced rates of interest to qualified homebuyers that are first-time meet maximum earnings limits and purchase price restrictions. First-time homebuyers can be eligible for mortgage reduction plus the NeighborWorks Alaska advance payment support system to help supply the advance payment and get rid of the requirement for home loan insurance coverage helping you save money each month.
Taxable First-Time Homebuyer Program
This first-time homebuyer system offers a decreased rate of interest to qualified borrowers. Unlike the program that is tax-exempt you will find no maximum earnings or acquisition price restrictions.
United states of america Department of Agriculture (USDA)
Provides up to 100% funding for qualified borrowers thinking about purchasing house in specified regions of rural Alaska.
Federal Housing Assistance (FHA)
Created for a debtor with reduced advance payment and permits reduced credit scores than that needed for Conforming loans; now offers a ‘streamline refinance’ of a FHA that is existing loan minimal documents needs.
Especially reserved for the citizens who served within the armed forces, while offering a purchase deal with out a payment that is down
Do It Yourself Loans:
Do you want to fix, renovate, or boost your house?
NeighborWorks Alaska provides the AHFC renovation loan options addressing three possible scenarios:
1) Purchase Renovation
- Renovations along with a purchase
2) Second for Renovation
- Improvements to a true house you already acquire
.3) Refinance Renovation
- Incorporates renovations in to a brand new loan.
Who is Eligible?
Owner-occupied single-family residences, duplexes, triplexes, fourplexes, condominium devices