Section 3.102.070. Costs.

	(a)  A non-refundable $1,000 application fee is due from the applicant at the time that an application is filed with the authority. This fee will be credited toward the guarantee fee if a guarantee is issued or toward the origination fee if a loan is made.  
	(b)  All expenses the authority incurs in providing a guarantee or loan, including processing the application, must be paid by the applicant. These expenses include the cost of credit reports, travel, and other direct costs.  
	(c)  For loan assumptions, a loan assumption fee of one percent of the outstanding loan balance is due upon approval by the loan committee and must be paid to the authority before the loan assumption is effective.  

Authorities

44.88.085;44.88.770

Notes

Authority

AS 44.88.085 AS 44.88.770 Editor's note: Even though 3 AAC 102.070 was adopted and effective 3/29/2013, it was not published until Register 207, October 2013.

History

Eff. 3/29/2013, Register 207

References

3.102.070