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Alaska House passes bill aimed at reducing down payment requirements for state-backed home mortgages

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Alaska House passes bill aimed at reducing down payment requirements for state-backed home mortgages



Housing construction is underway for a neighborhood near Sand Lake on July 5, 2023. (Matt Faubion/Alaska Public Media)

The Alaska House of Representatives passed a bill Wednesday that would allow the state’s mortgage lender to reduce the down payments necessary to qualify for state-backed loans.

Current law prohibits the Alaska Housing Finance Corporation from making loans worth more than 95% of the value of a single-family home. The bill, proposed by Gov. Mike Dunleavy, would remove that restriction. The corporation told lawmakers the change would allow its board to reduce the required down payment from 5% to 3%. That would save the median Anchorage homebuyer about $10,000 on their down payment and increase their monthly mortgage payment by about $60, according to the corporation’s estimates.

Rep. Dan Saddler, R-Eagle River and the House majority leader, said the bill would help Alaskans struggling to afford a home. The average sale price of an Alaska home rose to roughly $422,000 in 2022, up by about 15% since 2020, according to the state labor department.

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“Homeownership is the first big step towards financial security and long-term financial health for Americans and Alaskans,” Saddler said. “Inflation has made that first step a doozy.”

The Alaska Housing Finance Corporation offers loans through partner banks across the state. Reducing the required down payment would allow the state-backed housing lender to better compete with federal mortgage giants Freddie Mac and Fannie Mae, which offer several 3% down payment options. 

Rep. Genevieve Mina, R-Anchorage, said she hoped the bill would make homeownership more realistic for younger Alaskans.

“There are a lot of folks, especially in my generation, who don’t think that they’ll be able to buy a house because they can’t afford the mortgage, because they can’t afford the 20% down. That’s not the only path to homeownership, and empowering AHFC to have more assistance for all folks will be really helpful in helping to promote home buying and also to invigorate our housing market,” she said.

Though some of the Alaska Housing Finance Corporation’s programs are aimed specifically at first-time homebuyers and those with low incomes, the agency offers others aimed at the general population with broad eligibility criteria.

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The bill is one of a few efforts from Dunleavy this session aimed at lowering the cost of housing. Another, included in the governor’s capital budget, would create a down payment assistance program aimed at recent college or technical school graduates. Homeowners would have to stay in their home for five years to receive the full $20,000 in assistance.

The bill passed the House by a vote of 39-1 with only Rep. David Eastman, R-Wasilla, voting no. It now heads to the Senate.


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Eric Stone covers state government, tracking the Alaska Legislature, state policy and its impact on all Alaskans. Reach him at estone@alaskapublic.org.

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Yundt Served: Formal Charges Submitted to Alaska Republican Party, Asks for Party Sanction and Censure of Senator Rob Yundt

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Yundt Served: Formal Charges Submitted to Alaska Republican Party, Asks for Party Sanction and Censure of Senator Rob Yundt


Sen. Rob Yundt

On January 3, 2026, Districts 27 and 28 of the Alaska Republican Party received formal charges against Senator Rob Yundt pursuant to Article VII of the Alaska Republican Party Rules.

According to the Alaska Republican Party Rules: “Any candidate or elected official may be sanctioned or censured for any of the following
reasons:
(a) Failure to follow the Party Platform.
(b) Engagement in any activities prohibited by or contrary to these rules or RNC Rules.
(c) Failure to carry out or perform the duties of their office.
(d) Engaging in prohibited discrimination.
(e) Forming a majority caucus in which non-Republicans are at least 1/3 or more of the
coalition.
(f) Engaging in other activities that may be reasonably assessed as bringing dishonor to
the ARP, such as commission of a serious crime.”

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Party Rules require the signatures of at least 3 registered Republican constituents for official charges to be filed. The formal charges were signed by registered Republican voters and District N constitutions Jerad McClure, Thomas W. Oels, Janice M. Norman, and Manda Gershon.

Yundt is charged with “failure to adhere and uphold the Alaska Republican Party Platform” and “engaging in conduct contrary to the principles and priorities of the Alaska Republican Party Rules.” The constituents request: “Senator Rob Yundt be provided proper notice of the charges and a full and fair opportunity to respond; and that, upon a finding by the required two-thirds (2/3) vote of the District Committees that the charges are valid, the Committees impose the maximum sanctions authorized under Article VII.”

If the Party finds Yundt guilty of the charges, Yundt may be disciplined with formal censure by the Alaska Republican Party, declaration of ineligibility for Party endorsement, withdrawal of political support, prohibition from participating in certain Party activities, and official and public declaration that Yundt’s conduct and voting record contradict the Party’s values and priorities.

Reasons for the charges are based on Yundt’s active support of House Bill 57, Senate Bill 113, and Senate Bill 92. Constituents who filed the charges argue that HB 57 opposes the Alaska Republican Party Platform by “expanding government surveillance and dramatically increasing education spending;” that SB 113 opposes the Party’s Platform by “impos[ing] new tax burdens on Alaskan consumers and small businesses;” and that SB 92 opposes the Party by “proposing a targeted 9.2% tax on major private-sector energy producer supplying natural gas to Southcentral Alaska.” Although the filed charges state that SB 92 proposes a 9.2% tax, the bill actually proposes a 9.4% tax on income from oil and gas production and transportation.

Many Alaskan conservatives have expressed frustration with Senator Yundt’s legislative decisions. Some, like Marcy Sowers, consider Yundt more like “a tax-loving social justice warrior” than a conservative.

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Pilot of Alaska flight that lost door plug over Portland sues Boeing, claims company blamed him

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Pilot of Alaska flight that lost door plug over Portland sues Boeing, claims company blamed him


The Alaska Airlines captain who piloted the Boeing 737 Max that lost a door plug over Portland two years ago is suing the plane’s manufacturer, alleging that the company has tried to shift blame to him to shield its own negligence.

The $10 million suit — filed in Multnomah County Circuit Court on Tuesday on behalf of captain Brandon Fisher — stems from the dramatic Jan. 5, 2024 mid-air depressurization of Flight 1282, when a door plug in the 26th row flew off six minutes after take off, creating a 2-by-4-foot hole in the plane that forced Fisher and co-pilot Emily Wiprud to perform an emergency landing back at PDX.

None of the 171 passengers or six crew members on board was seriously injured, but some aviation medical experts said that the consequences could have been “catastrophic” had the incident happened at a higher altitude.

Leani Benitez-Cardona, NTSB aerospace engineer, and Matthew Fox, NTSB chief technical advisor for materials, unpacking the door plug Sunday from Alaska Airlines flight 1282, a Boeing 737-9 MAX, in the materials laboratory at NTSB headquarters in Washington, D.C.NTSB

Fisher’s lawsuit is the latest in a series filed against Boeing, including dozens from Flight 1282 passengers. It also names Spirit AeroSystems, a subcontractor that worked on the plane.

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The lawsuit blames the incident on quality control issues with the door plug. It argues that Boeing caught five misinstalled rivets in the panel, and that Spirit employees painted over the rivets instead of reinstalling them correctly. Boeing inspectors caught the discrepancy again, the complaint alleges, but when employees finally reopened the panel to fix the rivets, they didn’t reattach four bolts that secured the door panel.

The complaint’s allegations that Boeing employees failed to secure the bolts is in line with a National Transportation Safety Board investigation that came to the conclusion that the bolts hadn’t been replaced.



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FIRST ALERT: Heavy snow incoming to Southcentral, Southeast, and Southwest Alaska

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FIRST ALERT: Heavy snow incoming to Southcentral, Southeast, and Southwest Alaska


ANCHORAGE, AK (Alaska’s News Source) – A large winter storm is not only bringing heavy snowfall, but warmer temperatures are approaching! The most impacted areas will include Southcentral, Southeast, and Southwest Alaska, with close to a foot of snow accumulation likely through Tuesday afternoon.

Anchorage will receive a trace of snow overnight and into the early morning hours with about 1 to 3 inches of snow by early Monday afternoon. Close to 5 inches of snow will fall across the Kenai Peninsula and Copper River Basin by Monday afternoon before Tuesday morning brings closer to a foot of snow accumulation across the region. Anchorage and Mat-Su snow totals by Tuesday morning will likely reach 8 to 10 inches.

www.alaskasnewssource.com/weather/alerts/

Juneau will most likely get the heaviest rounds of snow from this storm system with close to a foot of snow likely to accumulate by Monday afternoon with even more snow Tuesday morning. Across Southeast, snow total will vary but Sitka and Ketchikan will receive near 3 to 7 inches. Brace for a few days of heavy snowfall with wind gusts up to 30 miles per hour. Rapid snow accumulation will add hazard to roads and rooftops so be vigilant and weather aware.

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Download the free Alaska’s News Source Weather App.

This storm is already making landfall from the Kuskokwim Delta to Bristol Bay. Expect 8 to 16 inches of snow by Monday night as the heaviest rounds will pass over late Monday morning. Wind gusts up to 40 miles per hour will add blizzard-like conditions with reduced visibility. The Aleutian Chain is bracing for high winds as the gusts up to 70 miles per hour are likely tomorrow. Light rain will pass through as a result of residual moisture of the tail-end of this storm.

The Interior will remain mostly dry tomorrow with mostly cloudy skies stretching over the Brooks Range and into the North Slope. Overnight lows are still quite chilly, sitting near 50 and 60 below zero. Coldest temperatures of the season were record Sunday morning at -50 degrees in Fairbanks, being the coldest temperature since February 2024 which was also -50 degrees. Light snow is possible Tuesday, but otherwise, very calm and quiet weather remains across central and northern Alaska.

Send us your weather photos and videos here!

24/7 Alaska Weather: Get access to live radar, satellite, weather cameras, current conditions, and the latest weather forecast here. Also available through the Alaska’s News Source streaming app available on Apple TV, Roku, and Amazon Fire TV.

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