hey prescott.
See what you qualify for

Home Start Homeownership Program (Kodiak Island Housing Authority)

Kodiak Island Housing Authority (KIHA) · Kodiak, Alaska

Last verified
See what you qualify forOfficial program site →
Income limit

80% AMI

Of area median income; varies by county and household size

Price cap

$300,000

Highest purchase price the program allows

What is Home Start Homeownership Program (Kodiak Island Housing Authority)?

Home Start Homeownership Program (Kodiak Island Housing Authority) is a first mortgage for homebuyers in Kodiak, Alaska, administered by Kodiak Island Housing Authority (KIHA).

  • Home Start increases affordable homeownership for low-to-very-low-income Alaska Native/American Indian households in Kodiak who don't qualify for conventional loans. KIHA originates financing for homes priced $300,000 or less for first-time owner-occupant buyers earning no more than 80% of Kodiak's median family income, with a 1% minimum down payment.
  • 1% minimum down payment.
  • Manageable monthly payments.
  • For AIAN buyers.
  • Home price up to $300,000.
  • This is a federal program, so it is available beyond a single state or city.
  • Funding comes from NAHASDA / Indian Housing Block Grant (KIHA NMLS 287823).

Do you have to pay it back?

Home Start Homeownership Program (Kodiak Island Housing Authority) is a first mortgage and is repaid under the terms set by Kodiak Island Housing Authority (KIHA).

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

Who qualifies?

Home Start Homeownership Program (Kodiak Island Housing Authority) is open to first-time homebuyers and buyers who will live in the home as their primary residence.

The program requires

  • First-time homebuyer — the program sets its own definition
  • The home is occupied as a primary residence
  • A completed homebuyer education course, through AHFC-approved Homebuyer Education Class (plus credit counseling when applicable)
  • Residency: Kodiak Island
  • Citizenship or immigration status: Proof of Alaska Native or American Indian heritage
  • DRAFT (dpa-gap-finder 2026-06-14): pending review. Proof of AIAN heritage; first-time homebuyer; owner-occupancy; income <=80% Kodiak MFI; 1% down (not borrowed/gift); AHFC-approved homebuyer education. Interest rate, credit, DTI, annual cap not stated; application is a scanned packet.

The program excludes

  • Manufactured homes
  • Purchases above the $300,000 price cap
  • Households above 80% of area median income

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 are the income limits?

Home Start Homeownership Program (Kodiak Island Housing Authority) limits household income to 80% of the area median income, which varies by county and household size.

  • Must not exceed 80% of the Median Family Income for Kodiak.
  • The limit applies to total household income, not only the borrower&rsquo;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?

Home Start Homeownership Program (Kodiak Island Housing Authority) caps the purchase price at $300,000.

  • New construction is eligible.
  • Manufactured homes are not eligible.

Is there eligibility for specific groups?

Home Start Homeownership Program (Kodiak Island Housing Authority) names American Indian and Alaska Native buyers among the groups it serves.

  • Being named here means the program mentions the group, not that membership alone qualifies an applicant — the rest of the eligibility rules still apply.

Where does it apply?

Home Start Homeownership Program (Kodiak Island Housing Authority) is a federal program, so it is not limited to Alaska.

How do you apply?

Applications for Home Start Homeownership Program (Kodiak Island Housing Authority) go through Kodiak Island Housing Authority (KIHA), which publishes the current terms and the application steps on its own site.

  1. Take a homebuyer education course

    Required by the program, through AHFC-approved Homebuyer Education Class (plus credit counseling when applicable).

  2. Contact Kodiak Island Housing Authority (KIHA) to reserve funds

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

  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.

90-second match

Not sure which you qualify for?

Answer 9 questions and we'll match you to every program you can actually use — in about 90 seconds. No SSN, no credit pull.

Find my programs