Down payment assistance in Alaska
Alaska's primary statewide down payment assistance program, run by Alaska Housing Finance Corporation. Numbers and eligibility reflect the program's published 2025 guidelines.
Closing Cost Assistance Program
Grant (no repayment)- Maximum assistance
- Up to 4% of loan amount as a non-repayable closing-cost grant
- Income limit
- Up to ~$120,000 in most boroughs
- Home price limit
- Set by AHFC tax-exempt bond limits; check current schedule
- First-time buyer
- Required
- Eligible loan types
- FHA, VA, USDA, Conventional
- •Grant is forgiven at closing - no repayment.
- •First-time buyer requirement waived for veterans and in some target areas.
How Alaska DPA fits into your purchase
Down payment assistance reduces the cash you need at the closing table. Alaska's Closing Cost Assistance Program pairs with the standard FHA, VA, USDA, or conventional first mortgage from a participating lender; the DPA flows through the same closing.
Two things to budget for: most state DPA requires a homebuyer-education course (typically online, 6-8 hours, ~$75) and you usually have to use a lender on the agency's approved list. The agency keeps the list public on its website.
Common questions
Alaska's primary statewide DPA is Closing Cost Assistance Program from Alaska Housing Finance Corporation. Up to 4% of loan amount as a non-repayable closing-cost grant. Many Alaska cities and counties also run additional DPA layered on top.
Yes. The Closing Cost Assistance Program requires that you have not owned a primary residence in the past 3 years. Veterans and target-area buyers are sometimes exempt.
Yes. Closing Cost Assistance Program works with these loan types: FHA, VA, USDA, Conventional. The DPA is layered behind your first mortgage as a separate lien (or grant), and both close together.
No. A grant has no repayment requirement, so it is not counted as debt for DTI purposes.
A grant is yours to keep with no payback obligation.