The Section 502 Direct Loan Program, also known as USDA Direct Loans, is a program that aids low and very-low-income individuals purchase decent healthy, safe and clean housing in eligible rural areas. That’s accomplished though offering payment assistance which boosts a borrower’s capacity to repay. This payment assistance can be described as a form of subsidy that lowers the mortgage repayment for a brief period, and the amount of assistance is contingent upon the adjusted family income. USDA Section 502 Direct Loans in Alaska aren’t the same thing as USDA Section 502 Guaranteed Loans in Alaska. The USDA Guaranteed Loan Program is more popular and accommodates a wider range of applicant incomes.

Can I get a USDA Direct Loan in Alaska?

USDA Loan RequirementsUSDA Direct Loans in Alaska are low income loans that can be used to purchase homes in rural areas. To qualify for Direct Loans, applicants must have low or very low income, which is defined by the USDA as 50% to 80% of the Area Median Income (AMI). Like other rural housing loan programs, USDA Direct Loans are a mortgage with no down payment. The median income for the entire state of AK is $77,640, although that figure may vary from county to county. The maximum yearly income limits for Alaska USDA Direct Loan approval are listed below. Other than meeting Alaska USDA Direct Loan income limits, applicants must adhere to the following criteria to be eligible:

  • You have no decent clean, safe, and sanitary housing presently.
  • You can’t be able to get a mortgage from another source with terms and conditions that could reasonably expected to be met.
  • You must use this property for your primary residence.
  • You must possess the legal capacity to be able to contract a loan
  • You must meet citizenship or eligible noncitizen requirements.
  • You can’t be barred or suspended from participation in federal programs.

Additionally, the subject property must meet the following conditions:

  • Be a modestly sized home for that area.
  • Market value can’t be in excess of the areas applicable loan limit.
  • Can’t be designed for the production of income.

What areas in AK are eligible for USDA Direct Loans?

The property in question must be in an approved rural area. USDA Rural Development provides a webpage where you can search specific addresses in AK here.

How much can I borrow with a USDA Direct Home Loan?

The size of the mortgage that an applicant’s eligible for depends on their ability to repay. Rural Development takes into account income, assets, debt, and payment assistance when weighing eligibility for USDA Direct home loans. No matter what the repayment ability is, you can’t borrow more than the local loan limit for the county where the home is located.

Are there other mortgage options with low down payment or no down payment in Alaska?

Yes, there may be other low down payment mortgage options, and no down payment mortgage options in Alaska besides USDA Direct Loans. You can begin by researching Alaska USDA Guaranteed Loans, Alaska FHA Loans, and Alaska VA Loans if you’re a veteran in AK or qualified family member. You may also want to look into helpful programs for down payment assistance in Alaska.

Alaska USDA Direct Loan Maximum Income Limits

Area
1 Person
2 Person
3 Person
4 Person
5 Person
Aleutians East Borough, AK - AREAS WITH A ROAD SYSTEM (115%) $76,750$76,750 $76,750$76,750 $101,300
Aleutians East Borough, AK - AREAS WITHOUT A ROAD SYSTEM (150%) $119,650$119,650 $119,650$119,650 $157,900
Aleutians West Census Area, AK - AREAS WITH A ROAD SYSTEM (115%) $76,750$76,750 $76,750$76,750 $101,300
Aleutians West Census Area, AK - AREAS WITHOUT A ROAD SYSTEM (150%) $119,650$119,650 $119,650$119,650 $157,900
Anchorage, AK MSA - AREAS WITH A ROAD SYSTEM (115%) $76,750$76,750 $76,750$76,750 $101,300
Anchorage, AK MSA - AREAS WITHOUT A ROAD SYSTEM (150%) $119,650$119,650 $119,650$119,650 $157,900
Bethel Census Area, AK - AREAS WITH A ROAD SYSTEM (115%) $76,750$76,750 $76,750$76,750 $101,300
Bethel Census Area, AK - AREAS WITHOUT A ROAD SYSTEM (150%) $119,650$119,650 $119,650$119,650 $157,900
Bristol Bay Borough, AK - AREAS WITH A ROAD SYSTEM (115%) $76,750$76,750 $76,750$76,750 $101,300
Bristol Bay Borough, AK - AREAS WITHOUT A ROAD SYSTEM (150%) $119,650$119,650 $119,650$119,650 $157,900
Denali Borough, AK - AREAS WITH A ROAD SYSTEM (115%) $76,750$76,750 $76,750$76,750 $101,300
Denali Borough, AK - AREAS WITHOUT A ROAD SYSTEM (150%) $119,650$119,650 $119,650$119,650 $157,900
Dillingham Census Area, AK - AREAS WITH A ROAD SYSTEM (115%) $76,750$76,750 $76,750$76,750 $101,300
Dillingham Census Area, AK - AREAS WITHOUT A ROAD SYSTEM (150%) $119,650$119,650 $119,650$119,650 $157,900
Fairbanks, AK MSA - AREAS WITH A ROAD SYSTEM (115%) $76,750$76,750 $76,750$76,750 $101,300
Fairbanks, AK MSA - AREAS WITHOUT A ROAD SYSTEM (150%) $119,650$119,650 $119,650$119,650 $157,900
Haines Borough, AK - AREAS WITH A ROAD SYSTEM (115%) $76,750$76,750 $76,750$76,750 $101,300
Haines Borough, AK - AREAS WITHOUT A ROAD SYSTEM (150%) $119,650$119,650 $119,650$119,650 $157,900
Hoonah-Angoon Census Area, AK - AREAS WITH A ROAD SYSTEM (115%) $76,750$76,750 $76,750$76,750 $101,300
Hoonah-Angoon Census Area, AK - AREAS WITHOUT A ROAD SYSTEM (150%) $119,650$119,650 $119,650$119,650 $157,900
Juneau City and Borough, AK - AREAS WITH A ROAD SYSTEM (115%) $76,750$76,750 $76,750$76,750 $101,300
Juneau City and Borough, AK - AREAS WITHOUT A ROAD SYSTEM (150%) $119,650$119,650 $119,650$119,650 $157,900
Kenai Peninsula Borough, AK - AREAS WITH A ROAD SYSTEM (115%) $76,750$76,750 $76,750$76,750 $101,300
Kenai Peninsula Borough, AK - AREAS WITHOUT A ROAD SYSTEM (150%) $119,650$119,650 $119,650$119,650 $157,900
Ketchikan Gateway Borough, AK - AREAS WITH A ROAD SYSTEM (115%) $76,750$76,750 $76,750$76,750 $101,300
Ketchikan Gateway Borough, AK - AREAS WITHOUT A ROAD SYSTEM (150%) $119,650$119,650 $119,650$119,650 $157,900
Kodiak Island Borough, AK - AREAS WITH A ROAD SYSTEM (115%) $76,750$76,750 $76,750$76,750 $101,300
Kodiak Island Borough, AK - AREAS WITHOUT A ROAD SYSTEM (150%) $119,650$119,650 $119,650$119,650 $157,900
Kusilvak Census Area - AREAS WITH A ROAD SYSTEM (115%) $76,750$76,750 $76,750$76,750 $101,300
Kusilvak Census Area - AREAS WITHOUT A ROAD SYSTEM (150%) $119,650$119,650 $119,650$119,650 $157,900
Lake and Peninsula Borough, AK - AREAS WITH A ROAD SYSTEM (115%) $76,750$76,750 $76,750$76,750 $101,300
Lake and Peninsula Borough, AK - AREAS WITHOUT A ROAD SYSTEM (150%) $119,650$119,650 $119,650$119,650 $157,900
Matanuska-Susitna Borough, AK HUD Metro FMR Area - AREAS WITH A ROAD SYSTEM (115%) $76,750$76,750 $76,750$76,750 $101,300
Matanuska-Susitna Borough, AK HUD Metro FMR Area - AREAS WITHOUT A ROAD SYSTEM (150%) $119,650$119,650 $119,650$119,650 $157,900
Nome Census Area, AK - AREAS WITH A ROAD SYSTEM (115%) $76,750$76,750 $76,750$76,750 $101,300
Nome Census Area, AK - AREAS WITHOUT A ROAD SYSTEM (150%) $119,650$119,650 $119,650$119,650 $157,900
North Slope Borough, AK - AREAS WITH A ROAD SYSTEM (115%) $76,750$76,750 $76,750$76,750 $101,300
North Slope Borough, AK - AREAS WITHOUT A ROAD SYSTEM (150%) $119,650$119,650 $119,650$119,650 $157,900
Northwest Arctic Borough, AK - AREAS WITH A ROAD SYSTEM (115%) $76,750$76,750 $76,750$76,750 $101,300
Northwest Arctic Borough, AK - AREAS WITHOUT A ROAD SYSTEM (150%) $119,650$119,650 $119,650$119,650 $157,900
Petersburg Census Area, AK - AREAS WITH A ROAD SYSTEM (115%) $76,750$76,750 $76,750$76,750 $101,300
Petersburg Census Area, AK - AREAS WITHOUT A ROAD SYSTEM (150%) $119,650$119,650 $119,650$119,650 $157,900
Prince of Wales-Hyder Census Area, AK - AREAS WITH A ROAD SYSTEM (115%) $76,750$76,750 $76,750$76,750 $101,300
Prince of Wales-Hyder Census Area, AK - AREAS WITHOUT A ROAD SYSTEM (150%) $119,650$119,650 $119,650$119,650 $157,900
Sitka City and Borough, AK - AREAS WITH A ROAD SYSTEM (115%) $76,750$76,750 $76,750$76,750 $101,300
Sitka City and Borough, AK - AREAS WITHOUT A ROAD SYSTEM (150%) $119,650$119,650 $119,650$119,650 $157,900
Skagway Municipality, AK - AREAS WITH A ROAD SYSTEM (115%) $76,750$76,750 $76,750$76,750 $101,300
Skagway Municipality, AK - AREAS WITHOUT A ROAD SYSTEM (150%) $119,650$119,650 $119,650$119,650 $157,900
Southeast Fairbanks Census Area, AK - AREAS WITH A ROAD SYSTEM (115%) $76,750$76,750 $76,750$76,750 $101,300
Southeast Fairbanks Census Area, AK - AREAS WITHOUT A ROAD SYSTEM (150%) $119,650$119,650 $119,650$119,650 $157,900
Valdez-Cordova Census Area, AK - AREAS WITH A ROAD SYSTEM (115%) $76,750$76,750 $76,750$76,750 $101,300
Valdez-Cordova Census Area, AK - AREAS WITHOUT A ROAD SYSTEM (150%) $119,650$119,650 $119,650$119,650 $157,900
Wrangell City and Borough, AK - AREAS WITH A ROAD SYSTEM (115%) $76,750$76,750 $76,750$76,750 $101,300
Wrangell City and Borough, AK - AREAS WITHOUT A ROAD SYSTEM (150%) $119,650$119,650 $119,650$119,650 $157,900
Yakutat City and Borough, AK - AREAS WITH A ROAD SYSTEM (115%) $76,750$76,750 $76,750$76,750 $101,300
Yakutat City and Borough, AK - AREAS WITHOUT A ROAD SYSTEM (150%) $119,650$119,650 $119,650$119,650 $157,900
Yukon-Koyukuk Census Area, AK - AREAS WITH A ROAD SYSTEM (115%) $76,750$76,750 $76,750$76,750 $101,300
Yukon-Koyukuk Census Area, AK - AREAS WITHOUT A ROAD SYSTEM (150%) $119,650$119,650 $119,650$119,650 $157,900

More USDA Loan Resources

USDA Direct Loan Income Limits (Low Income)
USDA Direct Loan Limits (Low Income)

All USDA Loan Limits
All USDA Loan Income Limits
USDA Loan Requirements
USDA Loan Programs
USDA Loan Calculator

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