Section 15 AAC 151.850 - Closing cost assistance programThe 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.Eff. 1/9/2013, Register 213, April 2015Even though 15 AAC 151.850 was adopted and effective 1/9/2013, it was not published until Register 213, April 2015.
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AS 18.56.090
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