Alaska Administrative Code
Title 15 - Revenue
Chapter 151 - AHFC General Programs
Article 7 - Miscellaneous Loan Programs
15 AAC 151.600 - Nonconforming housing program
Current through February 27, 2024
(a) The Corporation may purchase mortgage loans to finance the acquisition of nonconforming owner-occupied residences. Each loan must be secured by a single-family residence, duplex, triplex, or four-plex.
(b) The mortgage loan interest rate shall be at a rate determined by the corporation and published by the corporation from time to time.
(c) As used in this section, "nonconforming housing" means
(d) The provisions of 15 AAC 151.015 relating to borrower eligibility, except for the first sentence of 15 AAC 151.015(a), apply to mortgage loans under this section.
(e) The provisions of 15 AAC 151.020 relating to loan terms apply to mortgage loans under this section.
(f) The provisions of 15 AAC 151.910 relating to assumptions of mortgage loans apply to mortgage loans under this section.
(g) The provisions of 15 AAC 155.030(a) (5) relating to energy standards apply to mortgage loans under this section.
Authority:AS 18.56.088
AS 18.56.106
AS 46.11.040
AS 46.11.900