Alaska offers 12 down payment assistance programs to help homebuyers cover their down payment and closing costs. This includes 3 grant programs that never require repayment. Programs range from statewide options administered by the state housing finance agency to local city and county programs targeting specific communities.
Maximum assistance available reaches $300,000 through the most generous program. Most programs require the home to be your primary residence, and many require homebuyer education.
Top Down Payment Assistance Programs in Alaska
Highlighted programs that combine high assistance amounts with statewide or major-metro availability. See the full list below.
Interior Regional Housing Authority (IRHA) TEAM Program
verifyInterior Regional Housing Authority
20% of purchase price (max home price (max UP TO 20% of purchase price (max home price $300,000))
Cook Inlet Lending Center (CILC) - DPA Loan
verifyCook Inlet Lending Center
20% of purchase price (max (max UP TO 20% of purchase price (max $75,000))
Down Payment Assistance Loan
openCook Inlet Lending Center
20 (max $75,000)
Cook Inlet Lending Center (CILC) - NAHI Grant
verifyCook Inlet Lending Center
UP TO $25,000
City & Borough of Juneau Mobile Home Down Payment Assistance
verifyTrue North Federal Credit Union / City & Borough of Juneau
50% of required down payment (max UP TO $20,000 (or 50% of required down payment))
Grant Programs (3)
Grants are the gold standard of down payment assistance. You receive the money and never have to pay it back.
Down Payment Assistance
Confederated Tribes of Grand Ronde - Housing
Eligibility Snapshot
- First-Time Buyer
- Yes
- Income Limit
- Not specified
- Min Credit Score
- Not specified
- Property Types
- Single-Family, Condominium, Townhouse/PUD
- Max Price
- Not specified
Quick Facts
- Loan Types
- Freddie Mac, Fannie Mae, FHA, VA, USDA-RD +1
- Assistance Type
- grant
- Profession
- All
- Homebuyer Ed.
- Yes
Alaska Housing Home Opportunity Program (HOP)
Alaska CDC
Eligibility Snapshot
- First-Time Buyer
- Not specified
- Income Limit
- Based on AMI
- Min Credit Score
- Not specified
- Property Types
- Not specified
- Max Price
- Not specified
Quick Facts
- Loan Types
- Freddie Mac, Fannie Mae, FHA, VA, USDA-RD +4
- Assistance Type
- grant
- Profession
- all
- Homebuyer Ed.
- Yes
Repayment Terms
No repayment required if program conditions are met
Affordable Housing Enhanced Loan program
Alaska Housing Finance Corporation
Eligibility Snapshot
- First-Time Buyer
- No
- Income Limit
- Not specified
- Min Credit Score
- Not specified
- Property Types
- Single-Family, Townhouse/PUD, Condominium, Manufactured
- Max Price
- Not specified
Quick Facts
- Loan Types
- Freddie Mac, Fannie Mae, FHA, VA, USDA-RD +1, USDA-RD
- Assistance Type
- grant
- Profession
- All
- Homebuyer Ed.
- Yes
Forgivable Loans (3)
Forgivable loans are forgiven after a set period of living in the home. If you stay, you keep the money.
Interior Regional Housing Authority (IRHA) TEAM Program
Interior Regional Housing Authority
Eligibility Snapshot
- First-Time Buyer
- Not specified
- Income Limit
- Income limits apply
- Min Credit Score
- Not specified
- Property Types
- Not specified
- Max Price
- $300,000
Quick Facts
- Loan Types
- Not specified
- Assistance Type
- forgivable loan
- Profession
- all
- Homebuyer Ed.
- Not specified
Repayment Terms
Forgivable grant
Additional Requirements
Must be Alaska Native or American Indian
Cook Inlet Lending Center (CILC) - NAHI Grant
Cook Inlet Lending Center
Eligibility Snapshot
- First-Time Buyer
- Not specified
- Income Limit
- Not specified
- Min Credit Score
- Not specified
- Property Types
- Not specified
- Max Price
- Not specified
Quick Facts
- Loan Types
- Freddie Mac, Fannie Mae, FHA, VA, USDA-RD +1, USDA-RD +4
- Assistance Type
- forgivable loan
- Profession
- all
- Homebuyer Ed.
- Yes
Repayment Terms
Forgivable after 5 years
Additional Requirements
Must be Native American or Alaska Native
Notes
Occupancy requirement: 5 years
Cook Inlet Lending Center (CILC) - Home$tart Grant
Cook Inlet Lending Center
Eligibility Snapshot
- First-Time Buyer
- Not specified
- Income Limit
- Income-eligible
- Min Credit Score
- Not specified
- Property Types
- Not specified
- Max Price
- Not specified
Quick Facts
- Loan Types
- Freddie Mac, Fannie Mae, FHA, VA, USDA-RD +4
- Assistance Type
- forgivable loan
- Profession
- all
- Homebuyer Ed.
- Yes
Deferred Payment Loans (4)
Deferred loans require no monthly payments while you live in the home. You repay when you sell, refinance, or move out.
Down Payment Assistance Loan
Cook Inlet Lending Center
Eligibility Snapshot
- First-Time Buyer
- No
- Income Limit
- Not specified
- Min Credit Score
- Not specified
- Property Types
- Single-Family, Condominium, Townhouse/PUD, Manufactured
- Max Price
- Not specified
Quick Facts
- Loan Types
- Freddie Mac, Fannie Mae, FHA, VA, USDA-RD +1, USDA-RD +4
- Assistance Type
- deferred loan
- Profession
- All
- Homebuyer Ed.
- Yes
Closing Cost Assistance
Alaska Housing Finance Corporation
Eligibility Snapshot
- First-Time Buyer
- No
- Income Limit
- Not specified
- Min Credit Score
- Not specified
- Property Types
- Single-Family, Townhouse/PUD, Condominium
- Max Price
- Not specified
Quick Facts
- Loan Types
- FHA, VA, USDA-RD
- Assistance Type
- deferred loan
- Profession
- All
- Homebuyer Ed.
- Not specified
Repayment Terms
Deferred Payment - Repayment at sale or refinance
Chenoa Fund FHA Down Payment Assistance Forgivable
CBC Mortgage Agency (Chenoa Fund)
Eligibility Snapshot
- First-Time Buyer
- No
- Income Limit
- Not specified
- Min Credit Score
- Not specified
- Property Types
- Single-Family, 2 units, Leasehold, Condominium, Townhouse/PUD, Manufactured
- Max Price
- $766,550
Quick Facts
- Loan Types
- FHA
- Assistance Type
- deferred loan
- Profession
- All
- Homebuyer Ed.
- Yes
Chenoa Fund FHA Down Payment Assistance Repayable
CBC Mortgage Agency (Chenoa Fund)
Eligibility Snapshot
- First-Time Buyer
- No
- Income Limit
- Not specified
- Min Credit Score
- Not specified
- Property Types
- Single-Family, 2 units, Leasehold, Condominium, Townhouse/PUD, Manufactured
- Max Price
- $766,550
Quick Facts
- Loan Types
- FHA
- Assistance Type
- deferred loan
- Profession
- All
- Homebuyer Ed.
- Yes
Interest Rate
Note rate 1% above the first mortgage note rate
Repayment Terms
This loan does require a monthly payment on the second mortgage.
Second Mortgages (2)
These programs provide DPA as a second mortgage, sometimes with monthly payments, sometimes deferred.
Cook Inlet Lending Center (CILC) - DPA Loan
Cook Inlet Lending Center
Eligibility Snapshot
- First-Time Buyer
- No
- Income Limit
- Not specified
- Min Credit Score
- Not specified
- Property Types
- Not specified
- Max Price
- $75,000
Quick Facts
- Loan Types
- Not specified
- Assistance Type
- second mortgage
- Profession
- all
- Homebuyer Ed.
- Not specified
Repayment Terms
30-year fixed-rate second mortgage with monthly payments
Notes
Open to all qualified borrowers
City & Borough of Juneau Mobile Home Down Payment Assistance
True North Federal Credit Union / City & Borough of Juneau
Eligibility Snapshot
- First-Time Buyer
- Not specified
- Income Limit
- 120% AMI
- Min Credit Score
- Not specified
- Property Types
- mobile home
- Max Price
- Not specified
Quick Facts
- Loan Types
- Not specified
- Assistance Type
- second mortgage
- Profession
- all
- Homebuyer Ed.
- Not specified
How to Apply for Down Payment Assistance in Alaska
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1
Check Your Eligibility
Use our free eligibility tool to see which programs match your situation. Enter your state, city, income, and target home price.
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2
Contact the Program Administrator
Each program has its own application process. Visit the program website or call the administering agency to get started. Many programs work through approved lenders.
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3
Get Pre-Approved with a Participating Lender
Not every lender participates in every DPA program. Work with a lender who is approved for the programs you want. The program administrator can provide a list of approved lenders.
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4
Complete Homebuyer Education (If Required)
Many programs require a HUD-approved homebuyer education course. Online options through eHome America and Framework are accepted by most programs.
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5
Close & Move In
DPA funds are typically disbursed at closing alongside your first mortgage. Your lender coordinates the DPA program paperwork as part of the loan process.
Frequently Asked Questions
How much down payment assistance can I get in Alaska?
Up to $300,000 through available programs in Alaska. Multiple programs can often be combined for even more assistance. The exact amount depends on your income, location, and the specific program requirements.
Do I need to be a first-time homebuyer?
Not always. 6 programs in Alaska are open to repeat buyers. "First-time buyer" is typically defined as not having owned a home in the past three years.
What credit score do I need?
Requirements vary by program. Most require a credit score of at least 620-660.
Can I combine multiple DPA programs?
In many cases, yes. Some programs are specifically designed to be layered with others. For example, you might combine a state grant with a local deferred loan. Check with each program administrator about stacking eligibility.
DPA Programs in Nearby States
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