Alaska First-Time Home Buyer Programs of 2021

Jan 1, 2021

Many or all of the products featured here are from our partners who compensate us. This may influence which products we write about and where and how the product appears on a page. However, this does not influence our evaluations. Our opinions are our own. Here is a list of our partners and here's how we make money.

Alaskans can get help from state programs when they take the leap into homeownership. The Alaska Housing Finance Corp., or AHFC, offers programs for first-time home buyers (and some repeat buyers). Three programs offer below-market interest rates, and others offer help with closing costs or to buyers of mobile homes.

Buyers may benefit, too, from nationally available mortgage programs with borrower-friendly down payment and credit score requirements. Explore options available to first-time home buyers in Alaska.

National first-time home buyer programs

These national loan programs are offered by most lenders and are designed to help borrowers who don't have much saved for a down payment or need flexible credit standards.

AHFC highlights and eligibility requirements

Anyone who hasn't owned a primary residence in three years is classified by Alaska as a first-time home buyer. The following AHFC programs can make homeownership more affordable for first-timers. Some programs are open to repeat buyers, too.


  • Single-family homes, condos, common-interest community units and multi-family homes are allowed, as well as manufactured homes not permanently attached to a foundation.

  • Buyers who take AHFC's free homebuyer course, HomeChoice, get a $250 closing credit if they choose an AHFC mortgage.

  • Qualified veterans may count as first-time home buyers in some cases.

  • AHFC single-family loans are usually assumable.


  • Must be an Alaska resident with qualifying credit.

  • Must be current on child support payments.

  • Must occupy the property within 60 days of loan closing.

  • May have only one AHFC loan on owner-occupied property.

Alaska first-time home buyer programs

Summary: 2021 Alaska first-time home buyer programs

  • First Home and First Home Limited plans to provide first-time buyers with reduce-rate mortgages.

  • Interest Rate Reduction for Low-Income Borrowers option to reduce the interest rate on loans to low-income buyers.

  • Manufactured Home Program for mobile homes that are not permanently attached to a foundation.

  • Closing Cost Assistance Program to help with closing costs.

  • AHELP Program to provide down-payment assistance and secondary financing.

Those are the state first-time home buyer programs available in Alaska. For more information, see the AHFC website. Loan decisions are made by the agency's network of approved lenders; if you've found a program that suits you, contact a lender for more information.

More from NerdWallet

Get more smart money moves – straight to your inbox
Sign up and we’ll send you Nerdy articles about the money topics that matter most to you along with other ways to help you get more from your money.