Today our team would like to make you aware of a fantastic loan product for first-time homebuyers in Alaska: the 3-2-1 Program.
Now that the time for PFD (Permanent Fund Dividend) disbursement has rolled back around, many Alaskans are eagerly awaiting this payment.
In many cases, PFD disbursement provides a much-needed financial boost for those looking to purchase a home. And this is exactly why the number of home sales in our area tends to spike at this time of year.
With this in mind, my team and I would also like to make you aware of another great resource available to homebuyers in our area: the 3-2-1 Home Loan Program.
Not only does this program allow buyers to put as little as 3% down, but it also offers buyers who take advantage of it a $2,000 Home Depot gift card and a $1,500 credit to be used toward closing costs.
Best of all, qualifying is simple. The only requirements are that you must be a first-time homebuyer, you must fall within the family income limits (which, in our area, is $99,500) and have a credit score no lower than 620. In addition to this, you are also required to complete an online course.
This loan can be used to purchase homes priced up to $453,000, and, in case you need additional funds to make the down payment, this loan does allow gifted funds to be applied toward what you put down.
All in all, this loan presents a fantastic opportunity for Alaskans looking to buy their first home.
If you have any other questions or would like more information, feel free to give us a call or send us an email. We look forward to hearing from you soon.