Loan ProgramsThe following is a partial list of programs offered by Homestate Mortgage Company (AK189191) with a brief description of the key elements of each. For a complete list of the programs that we offer, please contact us at 907-762-7547.
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Conventional
Traditional loan programs that usually require 5% down and offer competitive interest rates. Documentation and fair-to-good credit are necessary.
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Alaska Housing Finance Corporation (AHFC)
Homestate Mortgage is an AHFC Approved Lender. Click on their website for more information or call us today to learn more about AHFC's programs. http://www.ahfc.state.ak.us.
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Cook Inlet Housing
Homestate Mortgage works in conjunction with Cook Inlet Housing. Click on their website for more information or call us today to learn more about Cook Inlet Housing's program. http://www.cookinlethousing.org Once there click on "Home Ownership".
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Multi-Family Loans
Multi-Family loans are available for buildings containing four or fewer rental units. Financing is available for both purchase and refinance.
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Investor Loans
Used to finance 1-4 family properties that will be for investment with as little as a 10% down payment. Aggressively priced these programs have many variations such as No Doc, Limited Doc and Full Doc. Program may not be available in some states.
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FHA Mortgage
Backed by the Department of Housing and Urban Development, this mortgage offers the borrower the ability to put as little a 3.5% down payment – with a total 3% investment. Seller can contribute up to 6% of the purchase price to the buyer towards closing costs.
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HUD 184
A specialized loan program with Alaska Natives and Native Americans in mind. It offers low down payment, with no income limit, and is available anywhere in Alaska!
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VA Mortgages
Backed by the Veterans Administration and the federal government, it is similar to FHA except that you have to be a qualified Veteran or military person.
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