Home Ownership Program for Elderly
For Elders wishing to purchase a home.
- This program is essentially the HOP program, with modifications on the terms of the loan. Applicant must be an elder , 62 years of age or older.
- The mortgage is for 10 years at 4% with a MMP of $150 or 15% AGI. However, there is no hold placed on amortization should the homebuyer fall below the MMP.
To be eligible for the HOPE program the applicant must:
- Meet all requirements for the HOP Program
- Be 62 years of age or older
Fairbanks North Star Borough Only
To be eligible for Rental Assistance you must:
- Have a houshold income at of below the HUD income limits
- Be an Alaskan Native or American Indian
- Reside in a residence that meets HUD quality housing standards
Please contact the IRHA Housing Department for more information.