Alaska homebuyers can access up to $60,000 in down payment assistance through the Alaska Housing Finance Corporation (AHFC). On the state's $352,000 median home price, that covers roughly 85% of a standard 20% down payment.
Primary Program: First Home Program
maximum assistance
0% interest, no monthly payments. Repaid when you sell, refinance, or pay off the first mortgage.
- Administering Agency
- Alaska Housing Finance Corporation (AHFC)
- Income Limit
- 115% of Area Median Income
- Purchase Price Cap
- $510,400
How Down Payment Assistance Works
Most state DPA programs are layered on top of a first mortgage — you apply through an approved lender who originates both the primary loan and the DPA second lien at the same closing. The DPA funds reduce the cash you need upfront.
Grants
Free money — no repayment ever. Typically the smallest amounts but highest value.
Forgivable Loans
Balance forgiven after a set period (usually 3–15 years) if you stay in the home. Selling early triggers repayment.
Deferred Loans
No monthly payments. Balance due when you sell, refinance, or pay off your mortgage.
Down Payment Calculator
Down Payment Planner
Alaska median pre-loaded
Your Savings Plan
Timeline
11.8 yrs
saving $500/mo
No PMI at 20% down
20% or more avoids private mortgage insurance entirely.
Estimate only — does not include investment returns on savings.
Full Calculator →Frequently Asked Questions
What down payment assistance is available in Alaska?
Alaska's primary DPA program is the First Home Program, administered by the Alaska Housing Finance Corporation (AHFC). It provides up to $60,000 as a deferred loan. 0% interest, no monthly payments. Repaid when you sell, refinance, or pay off the first mortgage.
How much down payment do I need in Alaska after using DPA?
On a $352,000 home (Alaska median), a 20% down payment is $70,400. With the First Home Program covering $60,000, your remaining gap would be $10,400. Many buyers combine DPA with a 3–5% conventional or FHA loan to reduce their cash needed further.
Do I have to repay Alaska down payment assistance?
0% interest, no monthly payments. Repaid when you sell, refinance, or pay off the first mortgage.
Can I combine Alaska DPA with other assistance programs?
Yes — Alaska's DPA programs can generally be combined ("stacked") with local city and county assistance programs, employer homebuyer benefits, and federal programs. Check with an approved lender or HUD-approved counselor to identify all programs you qualify for.
What are the income limits for Alaska down payment assistance?
The First Home Program requires income at or below 115% of the Area Median Income (AMI) for your county. AMI limits vary by location and household size. Your lender or the Alaska Housing Finance Corporation (AHFC) can confirm the exact limit for your area.
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