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Alaska Statutes (Last Updated: January 11, 2017) |
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Title 18. HEALTH, SAFETY, HOUSING, HUMAN RIGHTS, AND PUBLIC DEFENDER. |
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Chapter 18.56. ALASKA HOUSING FINANCE CORPORATION. |
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Article 18.56.01. ALASKA HOUSING FINANCE CORPORATION. |
Section 18.56.091. Home ownership assistance program.
Latest version.
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(a) The corporation shall implement a home ownership assistance program to assist persons of lower and moderate income to purchase homes financed under the special mortgage loan purchase program by providing a subsidy to the persons in an amount not greater than the difference between
(1) the amount annually required to pay interest and principal on that person's loan and real property taxes and insurance for the home purchase with the loan; and
(2) 25 percent of that person's annual gross income.
(b) Notwithstanding (a) of this section, the loan amount eligible for assistance under the subsidy authorized by (a) of this section is the amount determined under AS 18.56.098(k).
Authorities
18.56.090;18.56.098
Notes
Implemented As
15 AAC 151.120
15 AAC 151.300
15 AAC 151.310
15 AAC 151.320
15 AAC 151.330
15 AAC 151.340
References
AS 18.56.090 General powers and limitations.
AS 18.56.098 Special mortgage loan purchase program.
History
(Sec. 22 ch 106 SLA 1980; am Sec. 3 ch 128 SLA 1984; am Sec. 2 ch 30 SLA 1990)