The Alaska Housing Finance Corporation (AHFC) offers interest rate reductions to home buyers purchasing new and existing homes with 6 Star and 5 Star Plus energy ratings, or making energy improvements to existing homes. All homes constructed after 1992 must meet the AFHC Building Energy Efficiency Standard (BEES). New construction must exceed the minimum BEES requirements. Any property that can be energy rated and is otherwise eligible for AHFC financing may qualify for this program.
For new and existing home purchases that are rated 6 Star or 5 Star Plus, applicants are eligible for an interest rate reduction for the first $200,000 of the loan amount, with a blended interest rate applying to the remainder of the loan amount. The rate reductions are dependent on a property's access to natural gas and the energy rating of the home. Homes without access to natural gas receive a greater interest rate reduction than homes with access to natural gas.
For existing homes making energy improvements, a rate reduction is available for applicants, based on the number of steps of improvement to the energy rating of the property. An applicant should have the lender contact AHFC to inform them that the borrower intends to participate in the rate reduction program. After loan closing, energy improvements should be completed within one year. After an energy rating has been completed, AHFC will modify the interest rate accordingly. The program is available through AHFC-approved lenders.
Homeowners may also apply independently for the Home Energy Rebate program if applying for interest rate reductions.
|Incentive Type:||Loan Program|
|Administrator:||Alaska Housing Finance Corporation|
|Eligible Renewable/Other Technologies:||
|Maximum Loan:||Rate reduction applies to first $200,000; after this amount, a blended interest rate applies.|
|Interest Rate:||Rate reductions vary from -0.125% to -0.750%.|
|Name:||15 AAC 155.210|
|Organization:||Alaska Housing Finance Corporation|
P.O. Box 101020
Anchorage AK 99510-1020
This information is sourced from DSIRE; the most comprehensive source of information on incentives and policies that support renewables and energy efficiency in the United States. Established in 1995, DSIRE is operated by the N.C. Clean Energy Technology Center at N.C. State University.
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