Veterans Mortgage Program (Veterans Tax-Exempt)

Veterans Mortgage Program (Veterans Tax-Exempt) is a first mortgage for homebuyers in Statewide, Alaska, administered by Alaska Housing Finance Corporation (AHFC). AHFC's Veterans Mortgage Program offers qualified Alaska veterans a reduced-rate first mortgage funded through tax-exempt mortgage revenue bonds. Qualified veterans may purchase owner-occupied single-family residences and, with restrictions, a duplex/triplex/fourplex; long-term financing is also available for owner-built newly constructed homes. Unlike First Home Limited, qualified veterans do not have to be first-time homebuyers. A federal recapture tax may apply on sale within nine years. Below-market first-mortgage rate via tax-exempt bonds. First-time-homebuyer requirement waived for qualified veterans. Available on conventional, VA, or FHA/HUD/RD financing. Owner-built new construction financing available. Funding comes from Tax-exempt Qualified Mortgage Revenue Bonds (QMRB) issued by AHFC.

Veterans Mortgage Program (Veterans Tax-Exempt) is a first mortgage and is repaid under the terms set by Alaska Housing Finance Corporation (AHFC). Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

Veterans Mortgage Program (Veterans Tax-Exempt) is open to homebuyers who will live in the home as their primary residence. The program lists a minimum credit score of 620. Qualifying veteran = retired OR active-duty personnel who completed initial military obligation; must apply within 25 years of discharge; separation other than dishonorable; two unmarried borrowers must both be qualified veterans. Qualifying service may include U.S. Armed Forces, Reserves, Public Health Service, NOAA, or service-academy cadet service. Evidence: DD-214 + Certificate of Veterans Eligibility or Title 38 letter. Not confirmed (blank): max_dti, points/fees specifics, rate_lock_period, education mandate.

Veterans Mortgage Program (Veterans Tax-Exempt) sets its income limit as follows: No income limit on the Veterans Mortgage Program itself. (A separate State Veterans Interest Rate Preference option has its own income limits by area/household size, eff. 06/01/2026, e.g. Anchorage 4-person $106,800 - not part of this program and not combinable with it.). 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.

Veterans Mortgage Program (Veterans Tax-Exempt) caps the purchase price as follows: No acquisition-cost limit on the Veterans Mortgage Program. Eligible property types include Single Family, Condo, Common Interest Community Unit, Duplex, 2-4 Unit, and Manufactured. New construction is eligible. Manufactured homes are eligible.

Veterans Mortgage Program (Veterans Tax-Exempt) names veterans, active-duty service members, and reservists and National Guard members 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.

Veterans Mortgage Program (Veterans Tax-Exempt) serves homebuyers purchasing in Statewide, Alaska.

Applications for Veterans Mortgage Program (Veterans Tax-Exempt) go through Alaska Housing Finance Corporation (AHFC), which publishes the current terms and the application steps on its own site. Funds are reserved through Daily rate posting/reservation via AHFC approved lenders. 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.