Alaska Housing Finance Corporation (AHFC) Mortgage Program
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.
Alaska Housing Finance Corporation Contacts:
Interest Rate Preference
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.
Land Discount/Purchase 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 to 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.
- Alaska Department of Natural Resources, Division of Mining, Land and Water Management
Property Tax Exemptions for Disabled Veterans
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.
Federal Home Loan Programs
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.
- Federal Home Loan Programs
Applying for VA Home 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.