Mortgages

Mortgages

Our Homeownership Center can be your one-stop-shop!

You will find dozens mortgage loan types, and a large number of factors to take into account whenever aiming to determine how to buy, but only 1 loan is right for you. We make discovering that loan that is right and simple to make contact with certainly one of our mortgage professionals today to get going!

Advance Payment Assistance

NeighborWorks Down Payment Assistance system helps make homeownership feasible for first-time homebuyers of moderate earnings by filling the gap between that which you are able and also the price of housing.

A first-time homebuyer is anyone who has maybe 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 therefore the Taxable First-Time Homebuyer.

Tax-Exempt First-Time Homebuyer System

The Tax-Exempt system (TEP) provides reduced rates of interest to qualified first-time homebuyers whom meet maximum earnings restrictions and purchase price restrictions. First-time homebuyers can be entitled to mortgage decrease in addition to NeighborWorks Alaska advance payment support program to simply help supply the advance payment and eradicate the requirement for home loan insurance saving you money on a monthly basis.

Taxable First-Time Homebuyer System

This homebuyer that is first-time provides a lower interest rate to qualified borrowers. Unlike the program that is tax-exempt you can find no maximum earnings or purchase price restrictions.

United states of america Department of Agriculture (USDA)

Provides up to 100per cent financing for qualified borrowers thinking about purchasing house in specified regions of rural Alaska.

Federal Housing Assistance (FHA)

Created for a debtor with reduced deposit and permits reduced credit ratings than that needed for Conforming loans; now offers a ‘streamline refinance’ of a current FHA loan with minimal paperwork needs.

Veteran’s Administration

Especially reserved for the citizens who served into the military, while offering a purchase deal with no deposit

Do It Yourself Loans:

Do you want to correct, renovate, or boost your house?

NeighborWorks Alaska supplies the AHFC renovation loan options addressing three feasible situations:

1) Purchase Renovation

  • Renovations together with a purchase

2) Second for Renovation

  • Improvements to house you already have

.3) Refinance Renovation

Who’s Eligible?

Owner-occupied single-family residences, duplexes, triplexes, fourplexes, condominium devices