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97% Loan-to-Value (LTV) Option (AHFC)

Alaska Housing Finance Corporation (AHFC) · Statewide, Alaska

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What is 97% Loan-to-Value (LTV) Option (AHFC)?

97% Loan-to-Value (LTV) Option (AHFC) is down payment assistance for homebuyers in Statewide, Alaska, administered by Alaska Housing Finance Corporation (AHFC).

  • The 97% LTV option lets qualified borrowers put just 3% down on an AHFC mortgage, with 25 basis points added to the APR for the added risk. It can be layered with most AHFC single-family programs. Authorized after Governor Dunleavy signed House Bill 273 in July 2024.
  • Lowers the down payment to 3% on AHFC single-family loans in exchange for a small APR increase.
  • Funding comes from AHFC (authorized by Alaska House Bill 273, signed July 2024).

Do you have to pay it back?

97% Loan-to-Value (LTV) Option (AHFC) is down payment assistance and is repaid under the terms set by Alaska Housing Finance Corporation (AHFC).

  • The assistance is recorded in First position.
  • Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

Who qualifies?

97% Loan-to-Value (LTV) Option (AHFC) is open to buyers who will live in the home as their primary residence.

The program requires

  • The home is occupied as a primary residence
  • DRAFT (dpa-gap-finder 2026-06-14): pending review. Adds 0.25% to the rate; single-family AHFC loans only; work with an approved AHFC lender. No income limit stated.

These are the program's own published rules, not a decision about any individual — the administering agency and a lender determine who actually qualifies.

What kind of home can it be used for?

97% Loan-to-Value (LTV) Option (AHFC) can be used for Single Family.

Where does it apply?

97% Loan-to-Value (LTV) Option (AHFC) serves buyers purchasing in Statewide, Alaska.

How do you apply?

Applications for 97% Loan-to-Value (LTV) Option (AHFC) go through Alaska Housing Finance Corporation (AHFC), which publishes the current terms and the application steps on its own site.

  1. Contact Alaska Housing Finance Corporation (AHFC) to reserve funds

    Funds are reserved with the provider and are subject to availability.

  2. Work with a lender who handles the program

    Hey Prescott is not a lender and does not accept applications; this page describes the program so a buyer can take it to a lender or housing counselor.

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