HOME Loan Program

The Kodiak Island Housing Authority (KIHA) “Home” Loan Program is a buy-down and closing cost assistance program for Native Americans who are low to very low-income.

This program was created to increase home ownership and affordable housing on Kodiak Island and is funded by a grant from the U.S. Department of Housing and Urban Development (HUD).   

The "Home" Loan Program provides:

	A buy-down of up to 30% of the purchase price
	2% of the purchase price as part of the down payment
	Closing costs up to 3% of the total purchase price.

Applicants must meet the following program requirements:

	First-time homebuyer (i.e. not owned or had an interest in a home in the past three years)
	Annual income must be 80% or less of Median Family Income as determined by HUD.
	Provide minimum cash contribution of 3% of the total purchase price
	Qualify for a home mortgage loan from an approved lending institution

KIHA will assist applicants by providing a list of lending institutions that are willing to participate in the KIHA “Home” Loan Program.  KIHA is an approved lending institution.

Mutual Help Program

The Mutual Help Program consists of homes constructed by Kodiak Island Housing Authority (KIHA) between 1978 and 2002 on Kodiak Island.

Occasionally one of these homes becomes available for a qualified Native American or to a non-native who is essential to the village.  Notice of available homes will be posted at the village Tribal and City offices as well as on the Kodiak Island Housing Home page.

This is a lease with option to purchase program.  Monthly house payments are based on income, and homebuyers are responsible for all home maintenance and utilities.  A $1,500 down payment is required in some locations. 

Application Process

Get started by filling out the application. Then, contact Kodiak Island Housing Authority to go over the form and complete the process.

Download the Mutual Help Application by right-clicking on the link and choosing "save to disk". Print the application and complete all of the information requested. Also download the Q& A REGARDING THE MUTUAL HELP PROGRAM for more information.