Brand new open-concept ranch home in the heart of Palmer, nearing completion! This thoughtfully designed 3-bedroom, 2-bath home offers a spacious 2-car garage, stainless steel appliances, washer and dryer, blinds, back deck, and a large lot to be hydroseeded. Driveway and siding coming soon! Enjoy stylish modern finishes, LVP flooring throughout main living areas, and a prime location!
This home is funded by the Native American Housing Assistance and Self-Determination Act and restricted to buyers who are enrolled in a federally recognized Tribe or a shareholder of an Alaska Native Corporation and whose household income is at or below 80% of Area Median Income.
Purchase Assistance:
CIHA is providing financial assistance for the IHBG Homeownership Program to promote affordability for loan-ready buyers at or below 80% AMI.
Financial assistance is in the form of a deferred loan offered at 0% interest.
Repayment of the loan is not required except upon sale of the property or transfer of title.
The amount of assistance is calculated specifically for each home and each borrower.
Who is eligible?
To be eligible for this program, at least one person purchasing the home must be enrolled in a federally recognized Tribe or a shareholder of an Alaska Native Corporation. The buyer’s household must also meet household income requirements at or below 80% Area Median Income.
The buyer must be able to get preapproved for a home loan.
How do I find out if I’m eligible?
The first step for interested buyers is to fill out a prescreening application.
Because the form asks for sensitive information, we recommend they drop off a physical copy at the Cook Inlet Lending Center office. CILC’s office address: 3600 Spenard Rd #100, Anchorage, AK 99503.
What happens after I apply?
CILC will process the application and make a determination of preliminary eligibility, either approval or denial. If approved, they will be placed on an eligibility list for that
unit and invited to make a formal offer. If denied, they will receive the reason in
writing, such as being over the income limit.
What is needed for an offer?
Preliminary eligibility approval letter; and
Preapproval letter from a mortgage lender.
Restrictions after the purchase:
Home must be owner-occupied by the program-eligible household member(s) as long as they own the property.
If buyer sells within 15 years of purchase, the next buyer must also be 80% AMI and Alaska Native-American Indian.