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Building Homes, Building Hope, Changing Lives
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- GET ORGANIZED! Create a filing system and use it!
- OBTAIN AND SAVE RECEIPTS FOR CASH PAYMENTS
- SAVE EVERYTHING
- Rent Receipts
- All Paid Bills
- Pay Stubs
- Bank Statements...the ones you get in the mail
- each month
- Benefit Statements
- If you are self-employed, save records to document
- ALL income/expenses
- Rent Receipts
- BE SURE YOU HAVE YOUR TAX RETURNS (with W-2s and 1099s) for 2005, 2006 and 2007
- ADDRESS ROUTINE MONEY MANAGEMENT ISSUES
- Pay bills on time
- Stop using credit cards unless you pay the entire bill each month
- Pay bills on time
- MAKE SMART DECISIONS ABOUT YOUR TAX REFUNDS AND PFDS
- START REPAIRING YOUR CREDIT NOW
- RESOLVE ANY OTHER ISSUES that might make it difficult to prove your total income or that might affect your credit or your ability to pay your mortgage.
- Example One: If you are separated but not divorced, these issues are not clear.
- Example Two: Self-employed individuals must be able to document their own income.
- Example One: If you are separated but not divorced, these issues are not clear.
Consumer Credit Counseling Service of Alaska
907-279-6501
For help with money management and credit issues
Internal Revenue Service
949 E 36th Avenue
907-271-6391
To request copies of Tax Returns/W-2s
Alaska Housing Finance Corporation
www.ahfc.state.ak.us
Subsidized Housing, Home Choice Program
and Family Self-Sufficiency Program
Weatherization Assistance Program
907-343-4881
Energy efficiency assessment/assistance
Qualifying for our Homeownership Program
- What are the income guidelines? We use HUD's Median Income Guidelines for the Anchorage area. A family's income must fall between 30% and 60% of the median income for the family's size. See the table below.
- Are there credit restrictions? Yes. All liens and judgments must be satisfied prior to acceptance into the program. If a family has had a bankruptcy, it must have been discharged for two (2) years prior to application to our program. In addition, the family's credit must be repairable and the family must be willing to address their credit issues as they work toward homeownership.
- I own a home/property. Can I still apply? No. As a "first time homebuyer" program, all applicants may have owned a home, but not within the last three years. (some Alaska Native land is exempt)
- What if I currently own a mobile home? Owning a mobile home (on rented space) is OK. You must sell or transfer title prior to purchasing a HFHA home. Families will need to be willing to work with us on a one-to-one basis to address this issue.
- How do you define "need"? Present housing is inadequate because of one or more of the following:
* unsafe
* unsanitary
* overcrowded
* temporary
* lacks accessibility
* not affordable
- I just changed jobs. Is that a problem? Not usually. We look at stable income over time. As long as you do not have gaps in your income history, changing jobs would not be a problem.
- I am disabled and cannot do "sweat equity". Can I still qualify for your program? We welcome the challenge of finding jobs every adult can do. If you cannot climb ladders or paint, maybe you can help in the office or ReStore or by making phone calls from home.
2009 Guidelines Family Size 30% Median 60% Median One $16,550 $33,060 Two $18,900 $37,800 Three $21,250 $42,480 Four $23,600 $47,220 Five $25,500 $51,000 Six $27,400 $54,780 Seven $29,300 $58,560 Eight $31,150 $62,340 Nine $33,040 $66,108 Ten $34,928 $69,886