Housing First to stop accepting applications for program

Posted: Wednesday, January 22, 2003

Housing First Inc. said recently it will stop accepting applications for its popular assistance program on Jan. 31.

Housing First has made 14 loans to low-income home buyers in Juneau this past year, and it anticipates using all its remaining funds within the next three months.

"We have helped more than a dozen low-income households into home ownership and I hope to assist another four to six before running out of money," said program administrator Betsy Longenbaugh.

The Home Opportunity Program has brought $300,000 into Juneau each year for the past three years to assist new home buyers earning less than 80 percent of the median income, Housing First said. The program is funded with federal money through the Alaska Housing Finance Corp.

The loans offered by the program provide up to $25,000 in down payment, closing costs and other assistance. The rest of the funds for home purchase would come from one of the four primary lenders that partner with Housing First.

The Housing First loans are forgiven if buyers continue to live in the home for five to 10 years, depending on the size of the loan.

Housing First also offers home buyer counseling services for people of all incomes.

Call Housing First at 463-1276 for more information.

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