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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:

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: