Section 15 AAC 152.010 - Borrower eligibilityThe Corporation will, in its discretion, originate or purchase all or part of a loan under AS 18.56.420 if the requirements of AS 18.56.400-18.56.600 and 15 AAC 152.010(b) - 15 AAC 152.170 are met, and if the borrower:
(1) is either an Alaska resident who is at least 18 years of age or emancipated or is a business or local governmental entity, or a regional educational attendance area; and(2) can demonstrate, to the satisfaction of the Corporation, the ability to repay the loan. A borrower is eligible to have only one first lien mortgage loan at a time for owner-occupied housing.Eff. 5/7/93, Register 130; am 9/28/95, Register 136; am 9/25/2002, Register 164; am 8/20/2003, Register 169; am 08/13/2004, Register 178Authority:AS 18.56.088
AS 18.56.400
AS 18.56.420
AS 18.56.440
AS 18.56.580