Since 1993, FNHS has provided the community with a wide variety of services including home ownership education, rehabilitation and home purchase loans, down payment assistance, and affordable housing development.
The HOME OPPORTUNITY PROGRAM (HOP)
|Our low interest loan program provides housing improvements to seniors and others on a fixed income.
Programs and Services
Homeownership has many benefits
- Increases pride in the community
- Contributes to neighborhood safety
- Improves the tax base
- Provides housing for growing retail and indistry segments of the Fairbanks economy
Full Cycle Lending
Fairbanks Neighborhood Housing Services offers:
Based upon the "full-cycle lending system," the Fairbanks NHS Loan Program opens home ownership opportunities to first time home buyers of modest means‚many of whom never thought they would live in a home of their own. Its six parts are: home buyer education One-on-one counseling sessions, seminars, and the newly-designed home-buyers' club explain the complete home purchase process, and cover credit and budget counseling.
Loan Packaging and Financial Assistance. We offer financing for home purchase, purchase with rehab, down payment and closing costs assistance.
Capital for Lending. Loan program staff tailor loans to fit an individual's needs by offering tandem loans that incorporate both first and second mortgages. The lower interest rate on the second mortgage subsidizes the market rate charged on the first mortgage.
Post-Purchase Education. We have formal policies and procedures in place for delinquency intervention and foreclosure prevention such as face-to-face budget counseling and restructured payment plans. When a borrower's account is in arrears. When they must, Fairbanks NHS-loan program staff implement these measures with a caring and humane attitude.
Outreach Initiatives. Fairbanks NHS targets prospective home buyers through workshops and mailings, partners with other social service agencies, and publicizes specialized loan products. These efforts enable us to increase home ownership rates among traditionally underrepresented groups.