Home > Buyers, Finance > Loan Programs by Cook Inlet Lending Center

Loan Programs by Cook Inlet Lending Center

Last week Devon and Brooxie attended a presentation by Cook Inlet Housing Authority.  They offer amazing mortgage loan programs available to low-income individuals and households and those needing to build credit, job history, or paying down debt.Are you eligible? The following is information taken from Cook Inlet Housing’s website.Anyone who falls within the income eligibility guidelines, up to 100% of Area Median Income (AMI), regardless of age, race, religion, color or disability, may be eligible. In addition, Alaska Native and American Indian households may qualify for additional programs. Special financing may be available for households with income of no more than 80%AMI. Certain homes for sale are available for households with incomes at or below 50% AMI. Please contact us for more information and to see if you are eligible.

It’s also important to know you do not have to be Alaska Native or American Indian to qualify for the programs.

Here are a couple of eligibility requirements.
Applicants must meet the following eligibility requirements:

  • Have a household annual income at or below the income limits noted above.
  • Be willing to sign a first and second mortgage, if this financing is available to you.
  • Be able to provide 3% of sales price for the initial cash down payment.
  • Debt-to-income ratio and total-debt-to-income ratio may not exceed 30% and 40%.
Posted below are links to a couple handouts from the presentation briefly summarizing a few key points of the programs.  Note: these are only some of the programs offered by Cook Inlet, there are more.  Keep your eye on the Savings Program which matches $4 for each dollar you save up to $800.  After $1000 is saved Cook Inlet Lending Center contributes $3,200 for a total of $4,200 towards your down payment.  This is considered grant money that does not need to be paid back.  If another person in your household qualifies for the program they too could receive  $4,200 for a combine total of $8,400 towards your down payment.
Click the link below for the information:
Cook Inlet Lending InformationIf you have questions regarding these programs contact Wendy Romberg @ 907-793-3058 or contact us at Team Rogers.  We are happy to work with you in finding the loan program best suited for you.If you want to see all Homes for Sale in Wasilla, AK, Palmer, AK, and the Mat-Su Valley visit our website at TeamRogers.com.

(907) 373-4300

Categories: Buyers, Finance
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