Realize Your Dream
Realize Your Dream
TNHA’s staff work hard to help families of all income backgrounds across the Arctic Slope achieve their dreams of homeownership. We do this through primarily through two programs: Mutual Help and Conditional Installment.
Which Program is Right for Me?
Mutual Help
- $1,500 Mutual Help Contribution due at move in
- Monthly payments based on buyer’s income
- Minimum $200 administrative fee
- $2,500 Maintenance Reserve (subject to change by TNHA Board of Commissioners)
- Buyer may add to Maintenance Reserve at any time
- Payments are credited to an equity account used to purchase the home
- Buyer agrees to keep property in safe, clean and sanitary condition
- Buyer is responsible for all repair, maintenance and utilities
Conditional Installment
- $4,000 down due at contract signing
- $700 per month for 240 months (subject to contract terms)
- 5.5% interest rate
- Buyer pays monthly administration fee (until title conveys)
- Buyer agrees to keep property in safe, clean and sanitary condition
- Buyer is responsible for all repair and maintenance
- Home must be used as buyer’s principal residence
- Home cannot be sold or transferred without TNHA approval
Which Program is Right for Me?
Mutual Help
- $1,500 Mutual Help Contribution due at move in
- Monthly payments based on buyer’s income
- Minimum $200 administrative fee
- $2,500 Maintenance Reserve (subject to change by TNHA Board of Commissioners)
- Buyer may add to Maintenance Reserve at any time
- Payments are credited to an equity account used to purchase the home
- Buyer agrees to keep property in safe, clean and sanitary condition
- Buyer is responsible for all repair, maintenance and utilities
Conditional Installment
- $4,000 down due at contract signing
- $700 per month for 240 months (subject to contract terms)
- 5.5% interest rate
- Buyer pays monthly administration fee (until title conveys)
- Buyer agrees to keep property in safe, clean and sanitary condition
- Buyer is responsible for all repair and maintenance
- Home must be used as buyer’s principal residence
- Home cannot be sold or transferred without TNHA approval
Questions?
Contact an Occupancy Specialist today at (907) 852-7150 for more information.