State Veterans Interest Rate Preference (AHFC)

What is State Veterans Interest Rate Preference (AHFC)?

State Veterans Interest Rate Preference (AHFC) is down payment assistance for homebuyers in Statewide, Alaska, administered by Alaska Housing Finance Corporation (AHFC).

• The State Veterans Interest Rate Preference gives qualified veterans a 1% interest rate reduction on the first $50,000 of an AHFC single-family mortgage (blended rate above $50,000). Qualified state veterans include honorably discharged service members with 90+ days active duty, Alaska National Guard members, or reservists with 5+ years of service; surviving spouses may also qualify. Distinct from AHFC's separate Veterans Mortgage Program.
• 1% interest rate reduction on the first $50,000 for income-eligible qualified state veterans and surviving spouses.
• Funding comes from AHFC.

Do you have to pay it back?

State Veterans Interest Rate Preference (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?

State Veterans Interest Rate Preference (AHFC) is open to buyers who will live in the home as their primary residence.

What are the income limits?

State Veterans Interest Rate Preference (AHFC) sets its income limit as follows: Borrower family income may not exceed AHFC 'State Veteran' income limits.

• 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?

State Veterans Interest Rate Preference (AHFC) can be used for Single Family.

Is there eligibility for specific groups?

State Veterans Interest Rate Preference (AHFC) names veterans, reservists and National Guard members, and surviving spouses 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?

State Veterans Interest Rate Preference (AHFC) serves buyers purchasing in Statewide, Alaska.

How do you apply?

Applications for State Veterans Interest Rate Preference (AHFC) go through Alaska Housing Finance Corporation (AHFC), which publishes the current terms and the application steps on its own site.

1. 1

   Contact Alaska Housing Finance Corporation (AHFC) to reserve funds

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

2. 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.