Energy Efficiency Interest Rate Reduction (EEIRR)
Energy Efficiency Interest Rate Reduction (EEIRR) is a first mortgage for homebuyers in Statewide, Alaska, administered by Alaska Housing Finance Corporation (AHFC).
The program asks for
- The home is occupied as a primary residence
- This is a rate-reduction loan OPTION layered on an underlying AHFC first mortgage, not a standalone DPA. Improvement tier: within 365 days of closing borrower obtains initial rating, completes improvements, obtains final rating, submits docs within 30 days. Energy raters: https://akrebate.ahfc.us/Resources/Rater/List. Not confirmed (blank): min_credit_score, max_dti, income limits (none apply to this option).
- A home in Alaska
These are the program's own published rules, not a decision about any individual — the administering agency and a lender determine who actually qualifies.
Where it applies
Alaska’s homesAlaska’s homes, and the ones this program accepts
- 63.2% single-familysingle-family
- 7.8% townhousetownhouse
- 12.4% 2–4 units2–4 units
- 12.5% 5+ unitscondo & apartment buildings (5+ units)
- 4.1% mobile & othermobile home & other
A tick marks a kind of home the program’s record lists. The agency confirms it for the home you choose.
$352,900
Alaska median home value
36.8%
built before 1980
U.S. Census Bureau, ACS 2024 5-year.
How to apply
How to applyTwo steps, in this order
Contact Alaska Housing Finance Corporation (AHFC) to reserve funds
Funds are reserved through Lender reserves rate via AHFC daily rate system; for the improvement tier, lender notifies AHFC at application., and are subject to availability.
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 homebuyer can take it to a lender or housing counselor.
Questions about this program
What is Energy Efficiency Interest Rate Reduction (EEIRR)?
Energy Efficiency Interest Rate Reduction (EEIRR) is a first mortgage for homebuyers in Statewide, Alaska, administered by Alaska Housing Finance Corporation (AHFC). To promote energy efficiency, AHFC offers interest-rate reductions on the first $250,000 of a single-family loan for homes meeting certain energy-rating criteria, or when borrowers make qualifying energy improvements to an existing home. The reduction is layered onto an underlying AHFC loan (e.g., My Home, First Home). Larger reductions apply to homes without natural-gas access. Reduces interest rate on the first $250,000 of the loan. Larger reductions for homes without natural gas access. Available on new construction, existing efficient homes, and post-purchase energy improvements. Funding comes from AHFC single-family loan funds.
Do you have to pay it back?
Energy Efficiency Interest Rate Reduction (EEIRR) is a first mortgage and is repaid under the terms set by Alaska Housing Finance Corporation (AHFC). Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.
Who qualifies?
Energy Efficiency Interest Rate Reduction (EEIRR) is open to homebuyers who will live in the home as their primary residence. This is a rate-reduction loan OPTION layered on an underlying AHFC first mortgage, not a standalone DPA. Improvement tier: within 365 days of closing borrower obtains initial rating, completes improvements, obtains final rating, submits docs within 30 days. Energy raters: https://akrebate.ahfc.us/Resources/Rater/List. Not confirmed (blank): min_credit_score, max_dti, income limits (none apply to this option).
What kind of home can it be used for?
Energy Efficiency Interest Rate Reduction (EEIRR) can be used for Single Family, Condo, and Manufactured. New construction is eligible. Manufactured homes are eligible.
Where does it apply?
Energy Efficiency Interest Rate Reduction (EEIRR) serves homebuyers purchasing in Statewide, Alaska.
How do you apply?
Applications for Energy Efficiency Interest Rate Reduction (EEIRR) go through Alaska Housing Finance Corporation (AHFC), which publishes the current terms and the application steps on its own site. Funds are reserved through Lender reserves rate via AHFC daily rate system; for the improvement tier, lender notifies AHFC at application. Hey Prescott is not a lender and does not accept applications; this page describes the program so a homebuyer can take it to a lender or housing counselor.
Also for Alaska homebuyersOther programs open to Alaska homebuyers
- Manufactured Home LoanUp to $175,000
- NeighborhoodLIFT Down Payment Assistance (NeighborWorks Alaska)Up to $12,500
- New Home Construction Rebate (AHFC)Up to $10,000
Whether two programs can be combined is up to each agency. Ask before you apply.
All 76 programs for AlaskaProgram terms are set by Alaska Housing Finance Corporation (AHFC) and can change; confirm on the official site before you apply.