Application Process
Applicants must complete an application and sign income verification paperwork that will then be reviewed by staff for income eligibility determination. Approved clients must attend an orientation class to become familiar with program requirements.
The majority of ownership programs require that applicants earn 80% or less of area median income, depending on their qualifications. Clients are encouraged to utilize the second mortgage loan program in conjunction with the Mountain View Homeownership Program. Call now for details!
Income Guidelines
| 80% of AMI | |||
|---|---|---|---|
| 1 Person | $44,800 | 5 Persons | $69,100 |
| 2 Persons | $51,200 | 6 Persons | $74,250 |
| 3 Persons | $57,600 | 7 Persons | $79,350 |
| 4 Persons | $64,000 | 8 Persons | $84,500 |
Applicants must meet the following eligibility requirements
- Have household annual income at or below the income limits noted above.
- Be willing to sign a first and second mortgage.
- Be able to provide 3% of sales price for the initial cash down payment.
- Debt-to-income ratio and total-debt-to-income ratio may not exceed 30% and 40%.
The CIHA and Cook Inlet Lending Center Homeownership programs operate on a first-come, first-served basis, subject to available funding. Income limits and program guidelines are subject to change without notice.
Contact our Home Loan Program Specialists:
Local Phone: 907-793-3058
Email: info@cookinlethousing.org
Or stop by our office:
3510 Spenard Road, Suite 100
Anchorage, Alaska 99503
All loan products are provided through Cook Inlet Lending Center, a Cook Inlet Housing Authority non-profit social enterprise.
