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- Alaska Statutes.
- Title 18. Health, Safety, and Housing
- Chapter 56. Alaska Housing Finance Corporation
- Section 91. Home Ownership Assistance Program.
previous: Section 90
. General Powers and Limitations.
next: Section 92
. Veterans' Loans For Residential Housing. [Repealed, Sec. 77 Ch 106 SLA 1980. For Current Provisions See AS 18.56.101
AS 18.56.091. Home Ownership Assistance Program.
- (a) The corporation shall implement a home ownership assistance program to assist persons of lower and moderate income to
purchase homes financed under the special mortgage loan purchase program by providing a subsidy to the persons in an
amount not greater than the difference between
- (1) the amount annually required to pay interest and principal on that person's loan and real property taxes and insurance
for the home purchase with the loan; and
- (2) 25 percent of that person's annual gross income.
- (b) Notwithstanding (a) of this section, the loan amount eligible for assistance under the subsidy authorized by (a) of
this section is the amount determined under AS 18.56.098
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