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 [Repealed, Sec. 77 Ch 106 SLA 1980.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 (k).

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