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. Funding comes from NAHASDA / Indian Housing Block Grant (HUD).

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

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.

Tribal Equity Advantage Mortgage (TEAM) is open to homebuyers who will live in the home as their primary residence. Residency requirement: Fairbanks area. Citizenship or immigration status: Alaska Native or American Indian with Certificate of Indian Blood (CIB) or Tribal enrollment. Must be Alaska Native/American Indian with CIB or Tribal enrollment; lender pre-approval required; household income at/below HUD limits; buyer funds 100% of earnest money; property limited to SF/townhouse/condo up to $300,000. Lien position, forgiveness, credit, DTI, annual cap not stated on official sources.

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.

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.

Tribal Equity Advantage Mortgage (TEAM) names American Indian and Alaska Native homebuyers 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.

Tribal Equity Advantage Mortgage (TEAM) serves homebuyers purchasing in Fairbanks, Alaska.

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