Thinking of or know someone that will be buying this year?
Do you want to know a few options available?
I have some exciting news to share with you for 2016: Cook Inlet Lending Center has just announced that they have funding available for down payment assistance! There are only a few approved Lenders to offer Cook Inlet Lending Center Programs!
Here are a couple of programs that are fabulous for 1st time home buyers. Home buyers should meet with their 1st Lender and then they will be directed to Cook Inlet Lending Center (CILC).
Homeownership Grant- Individual Development Account Program (IDA)
Participants place in an IDA savings account $1,000 of earned income over a minimum of 6 months and CILC will contribute $4,000. The $5,000 total they will have they can use towards the down payment of a home, closing costs or pre-paids.
Must apply with CILC and be deemed income eligible
Must reside in the Municipality of Anchorage, Mat-Su, or Kenai Peninsula Borough (excluding Seward)
Must be a first time home buyer (defined by AHFC as cannot have owned a home in the last 3 years)
Minimum credit score 640