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~ Juneau, Alaska- The City and Borough of Juneau (CBJ) has recently announced the launch of a new program aimed at supporting first-time homebuyers. The Manufactured Home Down Payment Assistance Program, in partnership with True North Federal Credit Union, offers low-interest matching loans for down payments on manufactured homes.
The program was created to assist residents who are looking to enter the housing market but may struggle with the initial down payment. Through this program, qualified applicants can receive a loan for up to 50% of the down payment, with the remaining 50% being matched by the borrower. These loans will have a low interest rate of 1% and will not exceed $20,000. Borrowers will have up to five years to repay the loan.
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To be eligible for this program, applicants must have an income at or below 120% of the Area Median Income for the City and Borough of Juneau. This limit is adjusted annually and can be found on the program's website. Additionally, applicants can only participate in this program once and must reside in a manufactured home park within Juneau.
Applications for the Manufactured Home Down Payment Assistance Program are accepted on a rolling basis until all allocated funds have been exhausted. Interested individuals can visit the program's website for more information or contact True North Federal Credit Union at (907) 523-4710 for application assistance.
This initiative by CBJ and True North Federal Credit Union aims to make homeownership more accessible for residents of Juneau. With low-interest loans and flexible repayment options, this program provides much-needed support for those looking to purchase their first home.
The program was created to assist residents who are looking to enter the housing market but may struggle with the initial down payment. Through this program, qualified applicants can receive a loan for up to 50% of the down payment, with the remaining 50% being matched by the borrower. These loans will have a low interest rate of 1% and will not exceed $20,000. Borrowers will have up to five years to repay the loan.
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To be eligible for this program, applicants must have an income at or below 120% of the Area Median Income for the City and Borough of Juneau. This limit is adjusted annually and can be found on the program's website. Additionally, applicants can only participate in this program once and must reside in a manufactured home park within Juneau.
Applications for the Manufactured Home Down Payment Assistance Program are accepted on a rolling basis until all allocated funds have been exhausted. Interested individuals can visit the program's website for more information or contact True North Federal Credit Union at (907) 523-4710 for application assistance.
This initiative by CBJ and True North Federal Credit Union aims to make homeownership more accessible for residents of Juneau. With low-interest loans and flexible repayment options, this program provides much-needed support for those looking to purchase their first home.
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