Cook Inlet Lending Center (a non profit subsidiary of Cook Inlet Housing Authority)
Cook Inlet Lending Center offers two loan products to help families become homeowners, each product has it’s own eligibility guidelines and application process. Here is a quick description of each product with links to more detailed information.
Homeownership for Alaska Native/Native Americans: Section 184 Loans were established in 1992 by Congress, as a way for eligible Alaska Native/Native American individuals, families, tribes and tribally designated housing entities (including Indian Housing Authorities) to have homeownership opportunities, both on and off native lands.
This mortgage product is specifically for Alaska Native/American Indian families, tribes, Alaska Villages or tribally designated housing entities. Click on the link for more information about HUD Section 184 Loans.
Downpayment Assistance Loans (Open to anyone who is income qualified, grants are based on availability of funds)
Cook Inlet Lending center, Inc. is a certified Community Development Finance Institution (CDFI) therefore the Down Payment Assistance Program is for low to moderate income borrowers. Click the link to learn more about the Down Payment Assistance Program.
Individual Development Account (IDA) Program (Open to anyone who is income qualified)
Individual Development Accounts (IDA) are savings accounts that enable individuals who earn modest wages to save money for a home purchase. Participants who reach a savings goal can benefit from matching funds to then apply towards the down payment of a home. IDA participants evaluate personal credit reports and works towards strengthening credit scores, develop and follow household budgets, participate in education forums and enjoy one to one counseling where desired.
Find out more information about Cook Inlet Lending Center’s IDA program including important eligibility information here.