Alaska Home Opportunity Program (HOP)
Alaska Housing Finance Corporation offers Home Opportunity Program (HOP) to home buyers in Alaska: up to $30,000, as a forgivable or deferred loan.
- Amount
- Up to $30,000
- Kind of help
- Forgivable or deferred loan
- First-time buyers only
- No
How is Alaska Home Opportunity Program (HOP) paid back?
Forgivable or deferred loan: the first $10,000 is forgiven over 5 years. The rest is a 0% loan you repay when you sell or move out.
A forgivable loan is written off once you have kept the home and its first mortgage for the years the program sets.
A deferred loan costs nothing each month, but the whole amount is due when you sell, refinance or pay off the first mortgage.
Who qualifies for Alaska Home Opportunity Program (HOP)?
- For low-income people and families.
- You don't have to be a first-time buyer.
Most limits follow your county and household size. Our HUD income limits lookup shows your area's median income and where your household sits.
How to apply for Alaska Home Opportunity Program (HOP)
- Alaska Housing Finance Corporation pays this help out through its approved lenders, so you apply with one of them, together with your home loan.
- The lender checks your income, credit and the home against the program's rules and reserves the money for you.
- The help is paid at closing, toward your down payment and closing costs.
Read the full rules and whether it is taking applications on Alaska Housing Finance Corporation's page for Home Opportunity Program (HOP), or pick a lender from the agency's list of participating lenders.
Ask a lender about Alaska Home Opportunity Program (HOP)
Tell us where you're buying and a lender that works with Alaska's programs can tell you whether Alaska Home Opportunity Program (HOP) fits you, and what you could combine with it.
Rather not call? Send your details and the lender will reach you.
More help for buyers in Alaska
All Alaska first-time home buyer programs · Down payment assistance in every state