Applicants may borrow up to $100,000 for projects that improve the livability of a home, improve energy efficiency or expand space. The loan can be applied toward building materials, freight or third party labor costs, and the project should be completed within 180 days of the loan closing. If the owner does not occupy the property, then only duplexes, tri-plexes, and four-plexes are eligible for the loan program. Buildings with more than four units must be financed under the Multi-Family loan program.
Interested applicants may find forms and instructions on the AFHC program website, or contact Alaska USA Federal Credit Union. The applicant must submit the completed application package to Alaska USA for processing.