Affordable Housing Enhanced Loan Program (AHELP)

What is Affordable Housing Enhanced Loan Program (AHELP)?

Affordable Housing Enhanced Loan Program (AHELP) is a grant for homebuyers in Statewide, Alaska.

• The Affordable Housing Enhanced Loan Program (AHELP) is an AHFC first-mortgage loan option designed to work in partnership with other agencies to promote affordable homeownership. Qualified borrowers receive down payment assistance or secondary financing from a partner provider (governmental agency, nonprofit, or regional housing authority); the AHFC first mortgage accommodates that subordinate financing on enhanced terms. Available statewide. Borrowers must use an AHFC-approved lender, complete homebuyer education, and meet the partner provider's underwriting and program guidelines. Eligible properties: owner-occupied single-family homes, condominiums, units in a Common Interest Community, and Type I manufactured homes.
• AHELP is a first-mortgage loan option that pairs an AHFC first mortgage with down payment assistance or secondary financing provided by an approved local, state, or federal governmental agency, nonprofit agency, or regional housing authority. Assistance from the third-party provider may be a grant, deferred payment(s), a forgivable loan, or a combination. Designed to serve low- and moderate-income Alaskan borrowers and to promote affordable homeownership.
• Funding comes from AHFC tax-exempt and taxable bond proceeds for the first mortgage; third-party DPA funded by HUD HOME, NAHASDA, AHFC HOP, FHLB AHP, or partner-agency sources.

Do you have to pay it back?

Affordable Housing Enhanced Loan Program (AHELP) is structured as a grant, so it is not repaid.

• Repayment is triggered by Per underlying first-mortgage and third-party DPA provider's documents (sale, refinance, or non-occupancy may trigger repayment of the third-party assistance).
• The assistance is recorded in First (AHELP is the first mortgage; partner-provided DPA typically takes a subordinate lien) position.
• Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

Who qualifies?

Affordable Housing Enhanced Loan Program (AHELP) is open to buyers who will live in the home as their primary residence.

What are the income limits?

Affordable Housing Enhanced Loan Program (AHELP) limits household income to 80% of the area median income, which varies by county and household size.

• Income limits follow the underlying AHFC first-mortgage program. When paired with First Home Limited (tax-exempt) or the Interest Rate Reduction for Low-Income Borrowers, AHFC FY2025 Low Income Limits (effective May 12, 2025) apply. Examples (4-person household): Anchorage Municipality $129,000; Aleutians East $114,300; Aleutians West $136,700; Bethel $114,300; Bristol Bay $117,200; Chugach $114,300; Copper River $114,300; Denali Borough $147,000; Dillingham $114,300; Fairbanks North Star Borough $114,900; Haines $114,300; Hoonah-Angoon $114,300; Juneau $128,700; Kenai Peninsula $114,300; Ketchikan Gateway $119,300; Kodiak Island $114,300; Kusilvak $114,300; Lake and Peninsula $114,300; Matanuska-Susitna $120,600; Nome $114,300; North Slope $114,300; Northwest Arctic $114,300; Petersburg $114,300; Prince of Wales-Hyder $114,300; Sitka $122,000; Skagway $125,100; Southeast Fairbanks $114,300; Wrangell $114,300; Yakutat $114,300; Yukon-Koyukuk $114,300. 1-person Anchorage limit $90,300; 8-person Anchorage limit $170,280. The AHELP option itself does not impose AHFC-specific income limits beyond those of the underlying loan and the DPA provider.
• The limit applies to total household income, not only the borrower’s.
• Area median income figures are published by HUD and updated annually, so check the current table for the county before relying on a number.

What kind of home can it be used for?

Affordable Housing Enhanced Loan Program (AHELP) caps the purchase price as follows: Per underlying AHFC product (First Home Limited acquisition cost limits apply when paired with that program; First Home and My Home have no acquisition cost limits).

• Eligible property types include Single-family, Condominium, Common Interest Community unit, and Type I manufactured home.
• New construction is eligible.
• Manufactured homes are eligible.

Where does it apply?

Affordable Housing Enhanced Loan Program (AHELP) serves buyers purchasing in Statewide, Alaska.

• The program targets specific areas: When paired with First Home Limited, HUD-designated targeted census tracts have higher income and acquisition cost limits and waive the first-time homebuyer requirement.

How do you apply?

Applications for Affordable Housing Enhanced Loan Program (AHELP) go through the administering agency, which publishes the current terms and the application steps on its own site.

1. 1

   Take a homebuyer education course

   Required by the program, through AHFC HomeChoice homebuyer education; HUD-approved counseling agencies.

2. 2

   Contact the administering agency to reserve funds

   Funds are reserved through AHFC Lender Online reservation through approved lender, and are subject to availability.

3. 3

   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.