AHFC Offers Lower Interest Rates and Year Terms ANCHORAGE Thursday

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					AHFC Offers Lower Interest Rates and 15-Year Terms

ANCHORAGE, Thursday, October 16, 1997--Alaska Housing Finance Corporation
(AHFC) has lowered interest rates for most of its programs by .125% and added the
option of a 15-year term with even lower rates, effective October 14, 1997.

"AHFC's strong credit rating, along with a favorable bond market, has provided us the
opportunity to sell bonds at a very competitive rate," said Dan Fauske, CEO/Executive
Director. "This in turn allows us to pass on these lower interest rates to Alaskans who
qualify for our loan programs."

For the first time, AHFC is also offering 15-year interest rates for most of its programs at
rates .25%.375% below its 30-year rates. "We wanted to offer homebuyers an additional
term that would provide even greater savings," said Fauske. Following are the various
rates for each program:

                                                                   30-Year       15-Y ear
                          Program
                                                                    Rate           Rate
Rural Housing Owner-Occupied Program                                  6.750%        6.375%

Rural Housing Non-Owner Occupied Program                              8.250%        7.875%

First-Time Homebuyer Program                                          6.500%        6.250%

Veterans Mortgage Program                                             6.500%        6.250%

Taxable Rate Program                                                  7.750%        7.375%

Non-Conforming Program                                                8.000%        7.625%

Non-AHFC Refinance Program Rate                                       7.750%        7.375%

AHFC is a self-supporting public corporation that provides special loan, rental, self-
sufficiency, and energy programs for low- and moderate-income Alaskans, veterans, and
rural Alaskans.

				
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