Section 184

 ELIGIBLE?

A Section 184 loan may be made to:

• Alaska Native/American Indians
• Federally-recognized Tribe
• Indian Housing Authority
• Village Corporation formed under ANCSA
• Regional Corporation formed under ANSCA

 BENEFITS OF THE SECTION 184 PROGRAM

 The Section 184 Program has numerous advantages over other loan programs:

• Low down payment requirements:  1.25% to 2.25% down payment instead of 3%, 5%, etc.
• 1% guarantee fee can be financed
• No monthly mortgage insurance (saves on your mortgage payment)
• No limit on gifting for homeownership assistance (for example:  parents can provide a "gift" to you to help you with your down payment)
• High loan limits
• Flexible property standards
• Liberal debt to income ratio
• Consideration of compensating factors (we'll consider your circumstances)
• 100% Federal Guarantee
• Available everywhere in Alaska
• Assumable by qualified borrowers maximum fee of $500!!  Buy a home for $500!!! 
• Single loan for construction and long-term financing