Cook Inlet Lending Center (CILC) AK 269839

CILC is a non-profit affiliate of Cook Inlet Housing Authority

Who is eligible to participate in your homeownership programs?

Anyone who falls within the income eligibility guidelines, up to 80% of Area Median Income (AMI), regardless of age, race, religion, color or disability, is eligible.   In addition, American Indian and Alaska Native households may qualify for additional programs.  

Note: In 2010, we introduced a new loan program for law enforcement officers; this special program has its own set of eligibility guidelines.

Please contact us to see if you are eligible for any of our programs.

What is the income cutoff?

Income eligibility is determined by your household size and by the AMI as set by the Department of Housing and Urban Development (HUD). AMI is set annually by HUD. Currently 80% of AMI for a four-person household is $65,000.  Please contact us for additional AMI income limits.

How does financing work with your program?

There are several financing programs available for homes in the Anchorage, Matanuska-Susitna and Kenai Peninsula regions.  Cook Inlet Lending Center assists potential homebuyers navigate the mortgage process.  CILC offers Individual Development Accounts, personal finance forums, and second mortgage loans that eliminate Mortgage Insurance Premiums.

In our efforts to revitalize certain neighborhoods with quality, affordable housing we offer special financing programs for homeownership opportunities.

 Please contact us and we will walk you through the programs that are available.

Do I have to do anything different to participate in your loan program than I would with a conventional mortgage loan?

Yes, you must participate in the AHFC Home Buyer Education class and acquire a Certificate of Completion. You may sign up for the class at www.ahfc.us or call 330-8437 for class information.

What is IDA?

IDA stands for Individual Development Account – it is a way for eligible homebuyers to save $1,000 and receive a grant of $3,200 to be used for down payment expenses.  Cook Inlet Lending Center has an IDA specialist on staff to help you create an individual financial plan to reaching your savings goal and improve and strengthen your credit so that you are ready to become a successful home buyer.

Please contact us at 793-3058 if you have additional questions.