Home Start

Home Ownership For First Time Home Buyers

Kodiak Island Housing Authority is now accepting applications for the Home Start Program. 

This program is available to Native American families and single persons for home purchases up to $300,000.00.

Borrower(s) must be a first-time home buyer.

Applicants must fully complete the following written application.

​Program Description:


1. General

Under the Native American Housing Assistance and Self-Determination Act of 1996
(NAHASDA), Kodiak Island Housing Authority (KIHA) will offer its “Home Start” Homeownership
Program. The “Home Start” program is designed to increase affordable housing for Native
American households who are in the low to very low-income categories. KIHA shall have sole
discretion in determining the eligibility in the program and shall have the discretion to approve,
disapprove, or deny any individual application.

The program is available to Native American families and single persons that financially qualify
for NAHASDA assistance, and who meet all eligibility factors listed in Section 2 below.
KIHA will implement the program in a manner consistent with its overall policy of providing
decent, safe, sanitary and affordable housing to participant households under the requirements

2. Eligibility Factors

To ensure that only eligible applicants receive assistance, KIHA requires verification of
all factors of eligibility.

To be eligible a family or single person must satisfy all of the following factors:
a) Meet the NAHASDA income limits as established annually by HUD,
b) Primary borrower must be a first-time homebuyer (someone who has not owned a home
as their primary residence in the past three years), and does not currently own a home.
c) Provide proof of Alaska Native/American Indian blood,
d) Certify that the subject property will be owner occupied,
e) Submit evidence of regular, recurring income sources sufficient to establish ability to
make regular payments of principal, taxes, insurance, and any interest under a mortgage
loan, and financial ability to maintain a home,
f) Be willing to sign an Agreement to Purchase and Sell, Promissory Note, Deed of Trust,
and NAHASDA Covenant,
g) Pay a minimum of 1% of the purchase price in cash at closing. The borrower’s 1% down
payment must be from their own reserves and cannot be borrowed or be a gift.
Revised by BOC 8/22/2014 Resolution # 14-27 prior 4/30/2014 res 14-24
h) Attend and satisfactorily complete an AHFC-approved Homebuyer Education Class
within 24 months prior to closing the home purchase transaction,
i) Obtain credit approval and credit counseling from KIHA,
j) Must not owe money to KIHA or to any other federally-funded housing entity or program.
Applicants will be ineligible for this program until the amounts owed are paid in full and
verification is provided,
k) Be willing and able to cooperate in any required occupancy or financial counseling
required by KIHA, at any time during the term of the mortgage loan.

3. Income Limits for the Program

To be eligible, the family’s total household income cannot exceed the current maximum
percentage of HUD Published Area Median Family Income. Applicants whose annual income
is at 80 – 100% of the HUD published area median family income limits may be considered
eligible in KIHA’s discretion, in accordance 24 CFR §1000.110.
Applicants must fully complete the written application for Program participation. Applications
are available from KIHA at 3137 Mill Bay Road, Kodiak AK 99615. Participants must timely
provide accurate information on all sources of household income, and sign release and consent
forms to permit KIHA to verify income and income sources. Refusal to cooperate with income
and program qualifying activities shall disqualify the application from further consideration and

Fraud or misrepresentation in the application process is a serious matter and shall be
grounds for disqualification of the applicant or an admitted participant from all housing
assistance programs administered by KIHA.

If it is discovered that an applicant has misrepresented his/her situation, family income, terms of
the transaction or other pertinent factors, and KIHA has already disbursed funding, KIHA shall
determine if the misrepresentation results in ineligibility for this program. If it is determined that
the applicant is not eligible for the program, and has received funding they were not entitled to
receive, KIHA shall require the applicant to repay KIHA in full for all actual costs associated with
the program. If the applicant refuses to repay KIHA, KIHA shall enforce its recovery rights to the
fullest extent of the law.

Applicants for the “Home Start” Loan Program may be approved for processing based upon
information the applicant has provided KIHA regarding the applicants’ income and first time
homeowner status. Such approval is preliminary and nonbinding. KIHA’s final determination for
eligibility for the program will be determined before the parties execute the Agreement to
Purchase and Sell, which includes KIHA’s commitment to providing the loan funds.
Determination of the applicant’s eligibility will be based upon accuracy and completeness of
information the applicant(s) provide to KIHA, changes in household income, composition and
compliance with all other terms and condition of the “Home Start” Loan Program.
Revised by BOC 8/22/2014 Resolution # 14-27 prior 4/30/2014 res 14-24

4. Down Payment

The “Home Start” Program will incorporate reasonable closing costs in the price or the loan
amount for the home. The borrower must contribute at least 1% of the purchase price toward
the down payment.

5. Eligible Properties
Homes financially funded by KIHA’s Indian Housing Block Grant under NAHASDA.

6. Inspection
All units must meet KIHA’s Housing Quality Standards (HQS) inspection to be performed by a
KIHA-approved inspector. Health and Safety concerns must be addressed and remedied prior
to entering into the Purchase Agreement.

7. “Home Start” Program
The Borrower’s monthly payments will include loan principal installments, Homeowner’s
Insurance, property taxes and applicable interest.

8. Renting the House After Purchase
Borrowers must occupy the property as their primary residence. Renting the property is strictly
prohibited. Absences of more than 3 months must be pre-approved by KIHA. Failure to occupy
the home as primary residence shall constitute a loan default.

9. Availability of Program
The “Home Start” Homeownership Program shall be available until suspended or terminated by
KIHA. KIHA may suspend receipt of applications or update the wait list in its discretion. Length
of program shall depend upon funding and need. KIHA may change the scope of the program,
the program policies, or terminate the program at any time.

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Kodiak, Alaska 99615 

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