Baranof Island Housing Authority

Newsletter...

The BIHA Housing Department issues a monthly newsletter to keep our clients and community members informed. Click the icon below to view recent editions.

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422 Kaagwaantaan...

BIHA recently completed the construction of a new 2 bedroom, 1.5 bath home and is ready to offer it up for sale. More information can be found here.

Mortgage Assistance Program ...


The Mortgage Assistance Program has been developed to assist (NAHASDA) qualified families purchase a home. Loans are obtained from a bank or other agency offering mortgage programs. BIHA does not offer loans but will provide program participants with a variety of information, education and other assistance.


Assistance may include:

  • Providing education and counseling regarding how to manage credit, repair credit issues and family finance management and budgeting.
  • Provide guidance through the process of applying for a conventional mortgage or leveraged mortgage loan.
  • In some cases, BIHA may buy down the amount of the mortgage for families who demonstrate the ability to be successful borrowers and have found a suitable home but are not able to borrow the full amount of the asking or negotiated price of the home. The amount of such a buy down may be up to 20% of the amount of the mortgage loan. Closing Cost Assistance program funds, if applicablec are included in the amount of the loan buy-down. The actual amount of such a buy-down shall be determined by BIHA on a case by case basis.
  • BIHA has a limited amount of funding available for closing cost assistance for (Sitka area) Alaskan / American Indian families earning less than 100% of the area Median Family Income, (MFI)*. BIHA will apply Closing Cost Assistance program funds (up to $5,000) in order to help cover costs related to closing the loan.

The Mortgage Assistance Program is designed to offer the greatest flexibility in the leveraging of funds, programs, and education to assist as many families as possible to attain home ownership by purchasing a home via a conventional (or leveraged) mortgage.

Applications will be reviewed for eligibity if NAHASDA funds are expended. If eligible, the appplicant will be placed on a waiting list which will be maintained on a date of application basis.

Once a complete application has bee received and the applicant has been deemed eligible for the program, the applicant will be required to register for the Alaska Housing Finance Home Choice class. The Home Choice class is held in Sitka periodically. If there is no class scheduled convenient to the timeline of the applicant and the loan process, the materials will be provided for study to the applicant.

As part of the education and counseling process, a Uniform Residential Loan Application form will be filled out by the applicant with the assistance of BIHA staff. The URL Application form is universal to most lenders and mortgage providers. This will not only prepare the applicant for the mortgage application process, but will help identify the applicant's financial liabilities.

The applicant's credit report will also be pulled to identify issues that may need to be addressed in order for the participant to qualify for a mortgage loan.

*Income Limits Table


Eligibility:


Eligibility for the Mortgage Assistance Program will be determined in accordance with BIHA’s General Admissions Policy. Applicants must be Alaska Native or American Indian.  Documentation of Indian blood must be provided to qualify for this program.  Documentation must be in the form of a Tribal ID card, enrollment certificate or Certificate of Indian Blood issued by the Bureau of Indian Affairs.

The applicant(s) must be a first time homebuyer  which is defined as an individual or his or her spouse who have not owned a home during the three year period prior to the purchase of a home with program funds, except that:
  • Any individual may not be excluded from consideration as a first time homebuyer on the basis that the individual, while married, owned a home with his or her spouse or resided in a home owned by the spouse; and
  • Any individual who has inherited a portion of a home and does not reside in the home may be considered for program funds based on the eligibility determination of hte Executive Director.

If applicable, BIHA will require copies of the mortgage loan documents and divorce decree for applicants who have owned a home with a spouse during the preceding three years.  BIHA may also require copies of probate documents in the case of an applicant who has inherited a portion of a home.

Applicants must be income eligible based on the current year area median income limit as determined by HUD.  Applicants earning 80% or less than the median income are eligible.  A certain number of applicants who earn up to 100% of the area median income may be offered assistance on a funds available basis.    

Come visit us...

245 Katlian Street
Sitka, AK 99835

Ph. (907) 747-5088
Fax. (907) 747-5701

Hours of Operation:
Sept. 1 - May 15
Mon. - Fri., 8:00 am - 4:30 pm

May 16 - Aug 31
Mon. - Thurs., 8:00 am - 5:00 pm
Fri., 8:00 am - 1:30 pm

Main Office

Our new office has been named Sheet’iká X’áat’i Hitx’i”
(Sitka Island Housing).

Resources...

Baranof Island Housing Authority is both an Equal Opportunity Housing Agency and Equal Opportunity Employment Agency. BIHASitka.org is property and copyright 2009 of the Baranof Island Housing Authority, all rights reserved.

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245 Katlian Street
Sitka, AK 99835
Ph. (907) 747-5088
Fax. (907) 747-5701