Tribal Equity Advantage Mortgage (TEAM)

What is Tribal Equity Advantage Mortgage (TEAM)?

Tribal Equity Advantage Mortgage (TEAM) is a grant for homebuyers in Fairbanks, Alaska, administered by Interior Regional Housing Authority (IRHA).

• The Tribal Equity Advantage Mortgage (TEAM) provides Alaska Native/American Indian homebuyers in the Fairbanks area a grant of up to 20% of the purchase price (homes up to $300,000) to cover down payment and closing costs. Buyers obtain their own mortgage; funds are awarded first-come, first-served and are NAHASDA/IHBG funded.
• Grant up to 20% of purchase price.
• Covers down payment and closing costs.
• No repayment.
• Works with buyer's own mortgage.
• This is a federal program, so it is available beyond a single state or city.
• Funding comes from NAHASDA / Indian Housing Block Grant (HUD).

How much assistance does it provide?

Tribal Equity Advantage Mortgage (TEAM) provides assistance worth 20% of the purchase price, as set by the program.

• Buyer contribution: Buyer contributes 100% of the required earnest money.
• Amounts are the program's published maximums, not an offer — Interior Regional Housing Authority (IRHA) determines any individual award.

Do you have to pay it back?

Tribal Equity Advantage Mortgage (TEAM) is structured as a grant, so it is not repaid.

• Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

Who qualifies?

Tribal Equity Advantage Mortgage (TEAM) is open to buyers who will live in the home as their primary residence.

What are the income limits?

Tribal Equity Advantage Mortgage (TEAM) limits household income to 80% of the area median income, which varies by county and household size.

• Family income at or below HUD's 80% income limit. 2025 Alaska MFI $114,300 / Fairbanks $114,900; 80% 4-person ~$91,440 (Alaska) / $91,920 (Fairbanks).
• 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?

Tribal Equity Advantage Mortgage (TEAM) caps the purchase price at $300,000.

• Eligible property types include Single Family, Townhouse, and Condo.
• New construction is not eligible.
• Manufactured homes are not eligible.

Is there eligibility for specific groups?

Tribal Equity Advantage Mortgage (TEAM) 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?

Tribal Equity Advantage Mortgage (TEAM) is a federal program, so it is not limited to Alaska.

How do you apply?

Applications for Tribal Equity Advantage Mortgage (TEAM) go through Interior Regional Housing Authority (IRHA), which publishes the current terms and the application steps on its own site.

1. 1

   Contact Interior Regional Housing Authority (IRHA) to reserve funds

   Funds are reserved through First come, first served after a complete application and lender pre-approval letter, 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.