Veterans Mortgage Program

How the Program Works:

Qualified veterans may purchase owner occupied single-family residences; and, with certain restrictions purchase a duplex, triplex, or fourplex. Long-term financing is also available for owner/built newly constructed single-family homes.

Effective May 30, 2006, a veteran must apply to AHFC within 25 years of his/her date of discharge from "active duty service." (Active duty service is full-time duty, other than for training.) Active duty service in the US Armed Forces, US Armed Forces Reserves, Public Health Service, NOAA, or service as a cadet at the US Military, Air Force, Coast Guard or Naval Academy may meet requirements. 

Qualified veterans may be retired or active duty personnel. If retired, discharged, or released from active duty, separation must have been under conditions other than dishonorable. Active duty personnel must have completed their initial military obligation.

Additional Considerations:

• A copy of the borrower's DD 214 and Certificate of Veterans Eligibility or Title 38 letter is used to determine eligibility.
• If there are two unmarried borrowers, both borrowers must be qualified veterans.
• Duplex, triplex and fourplex properties must be at least five years old and occupied as a multi-family residence for at least five years.
• Veterans may also qualify for the veteran's exemption under the Tax-Exempt First-Time Home Buyer Program.

Forms:

• Veteran borrowers must complete and sign an Information Certificate.
• Veteran borrowers must complete and sign a Mortgagor's Affidavit. The Mortgagor's Affidavit may not be signed by a POA (Power of Attorney).

Add-On Options:

• Affordable Housing Enhanced Loan Program 
• Energy Efficiency Interest Rate Reduction 
• Interest Rate Reduction for Low-Income Borrowers 
• Teachers' and Nurses' Housing Loan Program

How to Apply:

• Contact an approved lender 

Veterans may contact the following agencies for additional information about programs and benefits.

Anchorage Area:

• Anchorage Veterans Center 
• Dept of Veterans Affairs - 907.257.4700
  2925 DeBarr Road
  Anchorage, AK
• Veterans Affairs Employment Hotline - 907.257.6797
• Veterans of Foreign Wars - 907.276.8213
• Veterans Comprehensive Homeless Center Domiciliary - 907.273.4000
  3001 C Street
  Anchorage, AK
• Vet Center/Veterans Resource Outreach Center - 907.563.6966
  4201 Tudor Center Drive
  Anchorage, AK
• Alaska Division of Veteran Affairs - 907.428.6068
  P.O. Box 5800
  Ft. Richardson, AK

Outside Anchorage:

• Fairbanks Veterans Center 
• Kenai Veterans Center 
• Wasilla Veterans Center 
• U.S. Dept of Veterans Affairs - 202.872.1151
  941 North Capitol Street NW
  Washington, D.C.