Alaska Grants There are many grants available in this State to assist a home buyer purchase a home. By using these grants it makes it possible to purchase a home with little or no money down.  Below is a list of some of the grants available, as well as contact information for each. Some are State sponsored grants. Some are sponsored on the county or municipality level.  Understand that many of these grants have limited funding, and most have income restrictions, so it is important to work with your mortgage lender and the non profit administering the grant program to ensure availability of funds.  State Sponsored Bank Sponsored Matching Funds Programs Community/local Sponsored Grants Seller Funded Down Payment Assistance Programs State Sponsored  Homeownership Opportunity Program (HOP) The HOP program provides down payment and closing cost assistance to low-income individuals and families who are trying to purchase a home. The funds are made available through non-profit intermediaries who administer programs in the major urban areas of Alaska. Please contact the agency that serves your community to see if you qualify for the program. See community sponsored grants in this section for a list of sponsoring agencies. Below is a link to the State Web site: http://www.ahfc.state.ak.us/grants/hop.cfm Bank Sponsored Matching Funds Programs  Banks that are members of the Federal Home Loan Banking system also offer IDA savings accounts. Visit the Regional Federal Home Loan Bank web site for more information. Community/local Sponsored Grants For further information, please contact the intermediary organization that administers the grant for your geographic area. Municipality of Anchorage MOA Department of Neighborhoods  (907) 343-4881  Mat-Su Borough  Alaska Community Development Corporation  Phone: (907) 746-5680  Toll-Free: 1 (800) 478-8080 Kenai Peninsula  Alaska Community Development Corporation Phone: (907) 746-5680  Toll-Free: 1 (800) 478-8080 City and Borough of Juneau Housing First Inc. (907) 463-1276 Fairbanks North Star Borough Fairbanks Neighborhood Housing Services  Phone 907-451-7230 AnCHOR Program - Municipality of Anchorage Anchorage-targeted areas: down-payment assistance Phone: (907) 343-4848 The following Indian Housing Authorities offer housing opportunities for residents in rural Alaska:  Aleutian Housing Authority; Anchorage Phone: (907) 543-3121  Baranof Island Housing Authority; Sitka Phone: (907) 747-5088  Bering Straits Regional Housing Authority; Nome Phone: (907) 443-5256  Bristol Bay Housing Authority; Dillingham Phone: (907) 842-5956  Copper River Basin Regional Housing Authority; Copper Center Phone: (907) 822-3633  Interior Regional Housing Authority; Nome Phone: (907) 452-8315  Kodiak Island Housing Authority; Kodiak Phone: (907) 486-8111  Metlakatla Housing Authority; Metlakatla Phone: (907) 886-6500  North Pacific Rim Housing Authority; Anchorage Phone: (907) 562-1444  Northwest Inupiat Housing Authority; Kotzebue Phone: (907) 442-3450  Tagiugmiullu Nunamiullu Housing Authority; Barrow Phone: (907) 852-0290  Tlingit-Haida Regional Housing Authority; Juneau Phone: (907) 780-6868  Seller Funded Down Payment Assistance Programs There are several non profit organizations that allow a seller to “donate” funds to them at closing, which is then given to the buyer as a down payment assistance grant. Presently, the federal government is reviewing these programs to determine whether this practice is an acceptable lending practice. By using one of these programs it is possible to purchase a home with little or no money. The seller needs to be a motivated seller, and the home needs to be priced correctly. Usually the sales price is inflated to cover the “donation”. The home must be able to appraise at the inflated price. These programs are initiated by the lender, so it is important to work with a local lender before you start looking for a home. The lender will also know how present legislation is affecting the program. The two most commonly used programs are The American Dream DAP and The Nehemiah DAP. Below are links to their web site. American Dream:  http://www.americandreamdownpaymentassistance.com/dpa_app.cfm Nehemiah Corp:    http://www.nehemiahcorp.org/