Made available by Touch N' Go Systems, Inc., and the
Law Offices of James B. Gottstein.

You can also go to The Alaska Legal Resource Center or search the entire website search.

Touch N' Go,® the DeskTop In-and-Out Board makes your office run smoother. Visit Touch N' Go's Website to see how.
Title 3 . Commerce, Community, and Economic Development
Chapter 41 . Veteran's Loan Assumptions
Section 10. Application process

3 AAC 41.010. Application process

(a) To apply for an assumption of an existing single family, multiple dwelling, or small business veterans' loan, an applicant shall file with the department

(1) a completed application for a veterans' loan assumption, on a form provided by the department;

(2) an individual financial statement from each individual applicant, including each member of a partnership or other association, or, if the applicant is a corporation, each individual owning 10 percent or more of any outstanding shares, on a form provided by the department;

(3) a business financial statement if applicable, on a form provided by the department;

(4) a signed credit authorization on a form provided by the department;

(5) repealed 8/10/97;

(6) an employment verification form, on a form provided by the department;

(7) an earnest money agreement explaining all terms and conditions of the transaction with signatures by all parties;

(8) signed copies of the applicant's federal income tax returns for the preceding three years, including returns for each member of a partnership or other association;

(9) a $100 nonrefundable application fee;

(10) repealed 8/10/97; and

(11) any other information that might be helpful to the applicant in demonstrating eligibility for a loan, as requested by the department.

(b) The department will, in its discretion, process an application for an assumption without the information described in (a) of this section, if the department determines that the department can make an informed lending decision without access to the information.

History: Eff. 9/11/85, Register 95; am 1/11/87, Register 101; am 8/10/97, Register 143

Authority: AS 26.15.010

AS 26.15.030

AS 26.15.040


Note to HTML Version:

The Alaska Administrative Code was automatically converted to HTML from a plain text format. Every effort has been made to ensure its accuracy, but neither Touch N' Go Systems nor the Law Offices of James B. Gottstein can be held responsible for any possible errors. This version of the Alaska Administrative Code is current through June, 2006.

If it is critical that the precise terms of the Alaska Administrative Code be known, it is recommended that more formal sources be consulted. Recent editions of the Alaska Administrative Journal may be obtained from the Alaska Lieutenant Governor's Office on the world wide web. If any errors are found, please e-mail Touch N' Go systems at E-mail. We hope you find this information useful. Copyright 2006. Touch N' Go Systems, Inc. All Rights Reserved.

Last modified 7/05/2006