Homebuyer Club Graduation
Homebuyer Club Graduation
Back in March of 2004, Cook Inlet Housing Authority (CIHA) launched a Homebuyers’ Club to help prospective homebuyers become “mortgage ready.”
In February of 2005, four families celebrated their graduation from this program which required they give up several hours of every Saturday afternoon for an entire year. For this dedication, they received first-hand advice from experts in the finance and housing industries including free credit, budget and loan counseling – as well as up to $1,000 toward a down payment on their new home.
Club membership is available to income-eligible Alaska Native and American Indian individuals or families who have applied and been turned-down for a standard first mortgage but would like to purchase a home within the next 12 months. The first meeting for the 2005 Homebuyer’s Club is scheduled for March. For more information contact Pamela Matlock at 276-8822.
The Homebuyers’ Club is being offered in support of Cook Inlet Housing Authority’s Loan Program, offering one and two percent interest second mortgages and down-payment and closing cost assistance. Applicants will be pre-screened for eligibility. For example, maximum income limits are $46,400 for a family of 2 or $58,000 for a family of 4.