Mortgage Loans

Mortgage Loans

Our Homeownership Center is the one-stop-shop!

There are dozens mortgage loan types, and a large number of factors to think about whenever aiming to regulate how to buy, 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 get going!

Advance Payment Assistance

NeighborWorks Down Payment Assistance Program helps make homeownership easy for first-time homebuyers of moderate income by filling the space between that which you are able therefore the expense of housing.

A first-time homebuyer is anyone who has maybe not owned a primary residence in the last 3 years. 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 Program (TEP) provides reduced interest levels to qualified first-time homebuyers who meet maximum earnings restrictions and purchase price restrictions. First-time homebuyers can be entitled to mortgage loan decrease together with NeighborWorks Alaska advance payment help system to greatly help supply the advance payment and eradicate the requirement for home loan insurance coverage helping you save money on a monthly basis.

Taxable First-Time Homebuyer System

This first-time homebuyer system provides a lower life expectancy rate of interest to qualified borrowers. Unlike the program that is tax-exempt there aren’t any maximum earnings or purchase price restrictions.

Usa Department of Agriculture (USDA)

Provides up to 100per cent funding for qualified borrowers thinking about purchasing a true house in specified aspects of rural Alaska.

Federal Housing Assistance (FHA)

Created for a borrower with just minimal down payment and allows reduced fico scores than that needed for Conforming loans; now offers a ‘streamline refinance’ of an FHA that is existing loan minimal paperwork demands.

Veteran’s management

Particularly reserved for our residents who served into the armed forces, and will be offering a purchase deal with no deposit

Do It Yourself Loans:

Isn’t it time to correct, renovate, or enhance your house?

NeighborWorks Alaska supplies the AHFC renovation loan options covering three scenarios that are possible

1) Purchase Renovation

  • Renovations along with a purchase

2) Second for Renovation

.3) Refinance Renovation

  • Incorporates renovations in to a new loan.

Who’s Eligible?

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