The Alaska Housing Finance Corporation (AHFC) administers the Veterans Mortgage Program which offers financing for qualified veterans at lower interest rates. Active duty members in the Armed Forces, Public Health Service, NOAA or service as a cadet at the US Military, Air Force, Coast Guard or Naval Academy may qualify. Loans are generally processed rapidly, require little or no down payment, and often include lower interest.
AHFC Loan Programs and Lenders
AHFC also offers a Veterans Interest Rate Preference, in which a veteran may receive a one percent lower interest rate on the first $50,000 of a bank loan when purchasing a new home. Ask the bank handling the financing to implement this program for you. AHFC grants a preference to veterans for the rent or sale of a portion of it's low cost housing units.
Interest Rate Preference
The Veterans Land Discount program allows certain veterans a 25% discount on the purchase price of state residential/recreational land. The discount may be used only once during the veteran's lifetime and may not be used in conjunction with the veterans preference.
Under the Veterans Land Sale Preference, before offering to the general public any unoccupied residential land by auction, a veteran has the exclusive opportunity purchase the land at a restricted sale at fair appraised market value. Parcels that are offered under this preference must be five acres or less, classified as settlement land and zoned for residential use only.
Land Discount Fact Sheet
Real property owned and occupied as the primary residence and permanent place of abode by a qualified disabled veteran whose disability was incurred or aggravated in the line of duty and whose disability has been rated as 50 percent or more by the military service or the U.S. Department of Veterans Affairs, is exempt from taxation on the first $150,000.00 of assessed valuation. The exemption transfers to a spouse if the veteran passes away and the spouse is at least 60 years of age.
Alaska Tax Office Locator
You and you spouse may also be eligible for many federal mortgage and loan programs. Home loan guaranties are issued to help eligible Servicemembers, Veterans, Reservists, National Guard and certain unmarried surviving spouses obtain homes, condominiums, and manufactured homes, and to refinance loans.
The VA loan is a $0 down payment mortgage option available to Veterans, Service Members and select military spouses. VA loans are issued by private lenders and guaranteed by the U.S. Department of Veterans Affairs (VA).
The VA Home Loan was created in 1944 by the United States government to help returning service members purchase homes without needing a down payment or excellent credit. This historic benefit program has guaranteed more than 22 million VA loans to help veterans, active duty military members, Guard/Reserve (at least six of Honorable Service), and their families purchase homes or refinance their mortgages.
Office of Veterans Affairs
In 2009, Mr. Verdie Bowen was appointed as Director of the Office of Veterans Affairs by former Governor Sarah Palin. As Director, Mr. Bowen is responsible for the development and establishment of polices and strategic plans that directly affect over 230,000 Alaskans including all Alaska veterans, active duty, reserve components, dependents, and survivors living in the states 348 communities. Recently, Mr. Bowen served nationally as the 70th President of the National Association of State Directors of Veterans Affairs. In this position he provided key testimony for five major pieces of legislation; the most critical being the Veterans Affairs (VA) Modernization Act of 2017 and the VA Mission Act of 2018.
Since his appointment, Mr. Bowen has traveled to over 265 communities in Alaska. He has provided critical testimony to the US Senate on rural healthcare and helped as a member of the 13th working group to facilitate the establishment of a memorandum of agreement between Alaska Tribal Health Agencies and the Federal VA allowing veterans to receive healthcare in villages all across Alaska. Mr. Bowen served on the Department of Veterans Affairs Rural Health Advisory committee from 2013 to 2017. He has also provided guidance and testimony to the Alaska State Legislator on several local veteran’s issues. To date he has provided guidance on the following passed legislation:
Currently he is working on the development of a new state veteran's cemetery in Fairbanks and the establishment of a DoD/VA/Alaskan software platform assisting veterans with earned benefits.
As a 23-year veteran of the U.S. Air Force, Mr. Bowen began his military career in 1981 serving in several units as a Communications Specialist. His major assignments included the following units:
During his service, he supported the research and development of long-range communications pertaining to the Global Positioning System (GPS) and the Strategic Defense Initiative (SDI). He managed the deployment of the Defense Mediterranean Improvement Satellite Program. He installed the first Alaskan bandwidth management network. Finally, he designed and installed UN and NATO telephone systems connecting commercial air traffic control towers in the old Czech Republic which allowed commercial air traffic back into this theater of operations.
Mr. Bowen holds a Bachelor of Science in Business Information Systems from Bellevue University in Nebraska. He is married to Catherine Bowen and they have four sons and four grandchildren.
(Current as of December 2018)
4600 DeBarr Rd., Suite 180
Anchorage AK 99508