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Frequently Asked Questions about 

Qualifying for our Homeownership Program


Q.  What are the income guidelines?

A.  We use HUD’s Median Income Guidelines for the Kenai Peninsula.  A family’s income must fall between 25% and 50% of the median income for the family’s size.  See the table at the bottom of the page.



Q.  Are there credit restrictions? 

A.  Yes. All liens and judgments must be satisfied prior to acceptance into the program. If a family has had a bankruptcy, it must have been discharged for two (2) years prior to application to our program. In addition, the family’s credit must be repairable and the family must be willing to address their credit issues as they work toward homeownership.

Q.  I currently own a home/property. Can I still apply?  

A.  No. As a “first time homebuyer” program, all applicants may have owned a home, but not within the last three years. (some Alaska Native land is exempt)

Q.  What if I currently own a mobile home?  

A.  Owning a mobile home (on rented space) is OK. You must sell or transfer title prior to purchasing a HFHA home. Families will need to be willing to work with us on a one-to-one basis to address this issue.

Q.  How do you define “need”?  

A.  Present housing is inadequate because of one or more of the following:

       •  unsafe

       •  unsanitary

       •  overcrowded

       •  temporary

       •  lacks accessibility

       •  not affordable

Q.  I just changed jobs. Is that a problem?  

A.  Not usually. We look at stable income over time. As long as you do not have gaps in your income history, changing jobs would not be a problem.

Q.  I am disabled and cannot do “sweat equity”. Can I still qualify for your program?   

A.  We welcome the challenge of finding jobs every adult can do. If you cannot climb ladders or paint, maybe you can help in the office or ReStore or by making phone calls from home.

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