An AHFC Newsletter
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Bryan Butcher poses for a birthday photo with his daughter last year. Ali will miss her graduation this year, and like many other Alaskans, is wondering what the future looks like.
We’re Determined to Keep Alaskans Safe and Healthy in Their Homes
By Bryan Butcher, CEO/Executive Director
The April edition of Alaska Trends magazine addresses several issues around the financial impact of COVID-19 in Alaska, including housing. The largest percentage of homeowners across the state pay between $1,500-$1,999 per month for housing costs that include utilities. Fourteen percent pay between $2,000 and $2,499. This represents about 40% of households’ average total monthly spend, and the figures illustrate the challenge Alaska’s families will face in the days and months ahead as they respond to reduced income created by the public health crisis.
For the last 49 years, Alaska Housing Finance Corporation has led the state on promoting access to safe, quality and affordable housing. Twenty-five years ago we developed our HomeChoice class that has provided education about first-time homeownership to more than 60,000 Alaskans. As an investor in mortgages for first-time homebuyers, veterans, those in rural areas and many others, we know that long-term homeownership is a critical building block in many Alaskans’ retirement plans. Many other Alaskans have opted into real estate more aggressively, investing in duplexes and triplexes to generate rental income and support the needs of their communities.
It is with remarkable speed that Congress and the President acted on stimulus measures to improve our nation’s economy while jointly dealing with the public health crisis posed by COVID-19. Alaska will receive $1.25 billion to meet a variety of state and local government needs, nearly $1 billion in small business loans are being facilitated by our lenders to keep their doors open for the long-term, and the one-time stimulus coupled with increased unemployed benefits are targeting Alaskans who were forced from their jobs and into their homes.
We’ll be watching to take advantage of all opportunities that keep Alaskans in their homes. Forbearance options are available to buyers with an AHFC mortgage but we caution forbearance is not forgiveness. We encourage Alaska’s homeowners to contact their mortgage servicer about what options are right for their household.
Families who are financially supported by public housing can use increased rental relief to allow them to stay in their homes while their landlords get increased subsidy from AHFC as provided by HUD.
Regardless of your family’s situation, our website has the most current information about all things “home.” Please take some time to see what’s there and offer your suggestions about how we can continue our partnership to help Alaskans navigate through this storm.
Mortgage Assistance:
What You Need to Know
It's easier to keep up with mortgage payments than catch up later. But if you have no other choice, learn about your options.
Find Headlines and Community Resources
Stay up to date with articles related to housing, financial and community resources for COVID-19 and more at Alaska Housing’s online blog.
Betty’s Energy Corner — Caulking Saves Energy and Looks Good
There are always plenty of projects to do around the house. Maybe it’s the cracked or discolored caulking around the bathtub, gaps in the new trim you installed, or sheet rock tape that cracked during the earthquake 17 months ago.
Take Our Free Homebuyer Education Webinar
Cooped up and dreaming about your next home? The best thing you can do now is take a free homebuyer education class. During the month of May, HomeChoice is available as a free webinar. The course totals six hours, but it is split into three two-hour increments and paves the way to successful homeownership. Since 1994, more than 60,000 Alaskans have taken the class.
FinallyHome! Online Course at Your Own Pace
Live webinars not your thing or don’t work with your schedule? Prospective homebuyers have access to a free alternative that’s perfect for home study.
Featured Video: Seams of Hope
Kaylee Williams is an Alaska Housing mortgage employee with a big heart. During her free time, she is one of the helping hands behind the group Alaska Mask Makers. The group has more than 4,000 members, coordinating across the state to provide surgical-style masks during the COVID-19 pandemic.
Lender of the Week: Steven Gist
Steven fell in love with Alaska in the early 1990s. He has spent several summers commercial fishing and continues to be captivated by the great people and world-class wonders of the Kenai Peninsula.
He and his wife have three children. They are proud to call Alaska home.
With Census Underway, Alaskans Get Counted
Census 2020 are adjusting their operations in response to the COVID 19 outbreak. For now, instead of going door to door to gather data they will be collecting information by mail, online and by phone.
Why get counted?
The census provides critical data for federal funding for communities to support hospitals, fire departments, schools, roads and more.
