Habitat for Humanity Anchorage Homeowner Program

What is Habitat for Humanity Anchorage Homeowner Program?

Habitat for Humanity Anchorage Homeowner Program is a first mortgage for homebuyers in Anchorage, Alaska, administered by Habitat for Humanity Anchorage.

• Habitat for Humanity Anchorage offers affordable homeownership to income-qualified Anchorage residents (30%-60% AMI). Homebuyers complete 250-600 hours of sweat equity per adult as their down payment, attend financial and homebuyer education classes, and receive an affordable Habitat mortgage kept below 30% of monthly income.
• Affordable 0%-style Habitat mortgage.
• Sweat equity replaces cash down payment.
• Required education.
• Funding comes from Habitat for Humanity Anchorage (donations, ReStore proceeds, sponsorships).

Do you have to pay it back?

Habitat for Humanity Anchorage Homeowner Program is a first mortgage and is repaid under the terms set by Habitat for Humanity Anchorage.

• 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?

Habitat for Humanity Anchorage Homeowner Program is open to first-time homebuyers and buyers who will live in the home as their primary residence.

What are the income limits?

Habitat for Humanity Anchorage Homeowner Program limits household income to 60% of the area median income, which varies by county and household size.

• Household income 30%-60% of Anchorage median income for family size.
• 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?

Habitat for Humanity Anchorage Homeowner Program can be used for Single Family.

• New construction is eligible.

Where does it apply?

Habitat for Humanity Anchorage Homeowner Program serves buyers purchasing in Anchorage, Alaska.

How do you apply?

Applications for Habitat for Humanity Anchorage Homeowner Program go through Habitat for Humanity Anchorage, 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 Dave Ramsey Financial class, AHFC first-time homebuyer class, HOA classes.

2. 2

   Contact Habitat for Humanity Anchorage to reserve funds

   Funds are reserved with the provider 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.