Frequently Asked Questions
Who is eligible for programs?
Eligibility may be based on the neighborhood you live in or on
income and family size. For example, if you earn this much or less
you may be eligible:
Family of two: $55,800
Family of four: $69,700
What kinds of loan programs does the HomeOwnership Center have?
Home Purchase Loans
Home Improvement Loans (up to $25,000)
What can I use a loan for?
You can use the loan to pay a portion of your down payment and
closing cost to purchase a house or you may use the money to improve
a house you live in.
What are the interest rates on loans?
Interest rates are flexible based on income and ability to pay.
Interest rates are usually below prime interest rates.
Do I have to live in a particular neighborhood to qualify?
All our lending programs are available to any income-qualified
resident who lives in the Fairbanks North Star Borough.