TEAM - Tribal Equity Advantage Mortgage
The Tribal Equity Advantage Mortgage Program (TEAM) is specifically designed to provide Alaskan Native/American Indians of Fairbanks Area with affordable housing. Eligible housing units consist of single family homes, townhouses and condo’s. Interior Regional Housing Authority (IRHA) is a non-profit agency; multi-unit buildings such as duplexes are not eligible for purchase. Interior Regional Housing Authority, the TEAM Program and TEAM Clients shall comply with Regulations and guidelines set forth by NAHASDA Act of 1996. To be eligible for a TEAM Loan you must:
Be a Native Alaskan or American Indian
Have a certificate of Indian blood card from the BIA or other positive identification of Native status and Tribal enrollment
IRHA has a grant of up to 30% of the purchase price of your new home (purchase price may not exceed $190,000). This grant is designed to help with the down payment and closing costs. After you meet with your bank or credit union, bring you pre-approval letter along with a complete application for TEAM (it must be 100% complete) to the Housing Authority. We have very limited funds, so please complete your application as soon as possible.
