Section 15.151.850. Closing cost assistance program.

The corporation may facilitate the making of mortgage loans for the purpose of the acquisition of housing under the following conditions:  
		(1) any funds provided by the corporation for transactional costs associated with the acquisition of the housing is used only for  
			(A) closing cost assistance;  
			(B) minimum cash investment; and  
			(C) reduction of principal;  
		(2) the loan is for the purchase of a completed, owner-occupied primary residence;  
		(3) the loan is secured by a single-family, duplex, tri-plex, or four-plex residential housing; and  
		(4) the residence meets the minimum construction standards set out in 15 AAC 150.030 and the building energy efficiency standards set out in 15 AAC 150.040.  

Authorities

18.56.088;18.56.090;18.56.099;18.56.300

Notes

Reference

15 AAC 151.860
15 AAC 151.865
15 AAC 151.870

Authority

AS 18.56.088 AS 18.56.090 AS 18.56.099 AS 18.56.300 Editor's note: Even though 15 AAC 151.850 was adopted and effective 1/9/2013, it was not published until Register 213, April 2015.

History

Eff. 1/9/2013, Register 213

References

15.151.850