Affording Home Modification

Medicare

Medicare should pay for 80% of the cost to purchase (or rent) durable medical equipment (DME) that is covered. Medicaid and/or private insurance should cover the remaining 20% of the cost of the equipment. Medicaid benefits will vary by state, and private insurance benefits will vary by provider and plan.

Examples of durable medical equipment that are covered by Medicare:​

• walkers
• standard wheelchairs
• custom tilt-and-recline power wheelchairs
• manual patient (Hoyer) lifts
• speech-generating devices
• bilevel (BiPAP) machines
• cough assist machines
• standard hospital bed​s​

Medicare, (Medicaid, and private insurance) does not usually cover items they don’t consider medically necessary, such as:

• ​built-up utensils
• shower chairs
• raised toilet seats
• pivot discs
• power patient (Hoyer) lifts
• transport wheelchairs
• fully electric hospital beds

Here’s how the Medicare process works:

​1. Medicare requires that you have a face-to-face visit with your physician. Your physician will then write a prescription and document your medical need for each piece of equipment.

2. Your doctor will then order the equipment through a local durable medical equipment provider that will contact you directly about the delivery. Depending on the type of equipment being delivered, your doctor may submit an order for a physical or occupational therapist from a home health agency to come to your home to show you how to properly use the equipment.

​3. The durable medical equipment provider works directly with Medicare, (Medicaid and private insurance) and will submit it for authorization prior to delivery. The durable medical equipment provider will work with you directly if there are any out-of-pocket expenses that your insurance(s) will not cover.

Alaska Medicaid provides coverage for durable medical equipment (DME) to assist individuals with disabilities and chronic conditions. The state’s Medicaid program, administered by the Department of Health, offers various services and regulations for durable medical equipment coverage. Here are some key points regarding Alaska Medicaid durable medical equipment:

Eligibility: Medicaid primarily covers the elderly, blind, and permanently disabled. The program is designed to help those who need it most.

Coverage: The program covers a range of durable medical equipment.  Durable medical equipment covered must be obtained through a prescription by a medical provider, appropriate for use in the recipient’s home, school, or community; is not provided through a Home Care Agency, and a provider documents recipient education of how to utilize the equipment.  The specific items covered can vary based on the individual’s needs and the type of Medicaid coverage.

Examples of covered Durable Medical Equipment are:

• Mobility aids: Wheelchairs, walkers, canes, crutches.
• Respiratory equipment: Oxygen equipment and accessories, nebulizers and nebulizer medications, continuous positive airway pressure (CPAP) machines.
• Diabetic supplies: Blood sugar monitors, test strips, control solutions, lancets, and lancet holders. Also, continuous glucose monitors are covered.
• Hospital beds: Including patient lifts.
• Infusion pumps and supplies.
• Other supplies: Incontinence supplies (garments, liners, under pads, non-sterile gloves, diaper wipes, disposable washcloths). Prosthetics and orthotics, including custom fabricated orthotics.

Approval Process:

1) You must have a face-to-face meeting with your provider who will document your chronic condition and the medical necessity for durable medical equipment.

2) A prescription from a qualified healthcare provider (physician, advanced nurse practitioner, or physician assistant) is necessary for durable medical equipment coverage. A prescription order for durable medical equipment, medical supplies, prefabricated off-the-shelf orthotics, and related items and services must contain the following (per 7AAC 120.200):

1. 1. (1) recipient’s name and date of birth;
   2. (2) item or service being prescribed.
   3. (3) diagnosis.
   4. (4) international classification of disease code.
   5. (5) quantity of the item or service being prescribed.
   6. (6) directions or instructions for proper use of the item or service, including the frequency of use when applicable.
   7. (7) duration or estimated length of need for the item.
   8. (8) enrolled prescribing provider’s signature and order signature date.
   9. (9) number of refills, if applicable; and
   10. (10) date of the face-to-face examination as required under (s) of this section if prescribing durable medical equipment, medical supplies, or related items and services.
   11. (u) A prescription order for durable medical equipment, medical supplies, prefabricated off-the-shelf orthotics, and related items and services that require a certificate of medical necessity form may be part of the certificate of medical necessity, if the certificate of medical necessity includes all of the components of a prescription order as described in (t) of this section.
   12. (v) The clinical assessment of need portion of a certificate of medical necessity that contains a prescription order for durable medical equipment, prefabricated off-the-shelf orthotics, medical supplies, or related items and services may not be prepared by a supplier of durable medical equipment, prefabricated off-the-shelf orthotics, medical supplies, or related items and services to the prescriber.
   13. (w) The department will not pay for durable medical equipment, medical supplies, prefabricated off-the-shelf orthotics, or related items and services if they were prescribed more than one year before a claim for payment is submitted. For the purposes of payment, a prescription order written and signed by the prescriber after a product has been dispensed will not be accepted.
   14. (x) A prescriber shall sign a prescription or affix to a prescription an authenticated digital signature from an electronic health record system. The department will not accept a signature stamp or a copy of a signature as part of a valid prescription order even if affixed to the prescription order by the prescriber. The department will accept a prescription order or certificate of medical necessity received by facsimile with the prescriber’s original or authenticated digital signature.

3) Quantity limitations: Orders for durable medical equipment items or supplies are generally limited to a 30-day period. Orders exceeding this limit require written medical justification.
a) Alaska Medicaid may authorize the purchase of both new and used durable medical equipment.  If used equipment is provided as rental, it must be clean, sanitized, without defects, meet manufacturer specifications, and be able to withstand at least three years of use.

4) Prior Authorization: Some durable medical equipment items require prior authorization from Alaska Medicaid. This process usually involves submitting a Certificate of Medical Necessity (CMN) along with the Service Authorization Request Form (AK-SA).

a) Medical Necessity: Coverage is dependent on the durable medical equipment being medically necessary and appropriate for the recipient’s condition. Orders for durable medical equipment, items or supplies are generally limited to a 30-day period. Orders exceeding this limit require written medical justification.  (click below to access forms)
            Alaska Medicaid Certificate of Medical Necessity Form Prescriber
            Alaska Medicaid Certificate of Medical Necessity For Incontinence Supplies Form
            Alaska Medicaid Certificate of Medical Necessity Enteral Nutrition

b.) Alaska Medical Service Authorization
             Alaska Medicaid Service Authorization Request Form

c.) Cover Sheet to Submit Durable Medical Equipment Request
             Alaska Medicaid Durable Medical Equipment Cover Sheet Form
             Alaska Medicaid Durable Medical Equipment Urgent Emergent Cover Sheet

Alaska Medicaid Provider Forms: Click this link to connect you to the State of Alaska Department of Health Division of Public Assistance, Medicaid Provider Forms

Durable medical equipment provider enrollment: The durable medical equipment must be obtained from a supplier enrolled in the Alaska Medicaid program.
Alaska Medicaid Provider Directory 2025

5.) Related Costs for Durable Medical Equipment

a.) Dual eligibility (Medicare-Medicaid): Specific rules apply to recipients eligible for both Medicare and Medicaid. Providers must follow Medicare guidelines and obtain Medicare’s determination of medical necessity before seeking payment from Medicaid for Medicare-covered items.
Alaska Medicaid Durable Medical Equipment Alternate Reimbursement Rate Request Form
b.) Medicaid recipients can purchase durable medical equipment under certain conditions, such as when used or refurbished equipment is available, less expensive, and meets the durability requirements of being clean, sanitized, without defects, meet manufacturer specifications, and be able to withstand at least three years of use.
Alaska Medicaid Durable Medical Equipment Price Research Request Form
c.) Subject to the applicable provisions of 7 AAC 120.200 – 7 AAC 120.399, a provider enrolled under 7 AAC 105.210 as a durable medical equipment provider may request payment for dispensing the following covered items described by a national drug code (NDC) listed on the Alaska Medicaid DMEPOS Fee Schedule, See below, adopted by reference in 7 AAC 160.900, up to the maximum allowable quantities and amounts described on that fee schedule:
                            Alaska Medicaid DMEPOS Fee Schedule – DME and Med Supplies
                            Alaska Medicaid DMEPOS Fee Schedule – Prosthetics and Orthotics
                            Alaska Medicaid DMEPOS Fee Schedule -Orthotics

6.) Skill Home Health Care Authorization
                  For service authorization for local skilled in-home care services (Nursing, OT, PT) to support education of durable medical equipment. Required for referral for community services.
Alaska Medicaid Home Health Services Auth Form

Durable medical equipment providers can submit a Medicaid Claim for labor and repair parts for damaged durable medical equipment, medical supplies, prefabricated off-the-shelf orthotics, and related items and services with the following limitations:

1. The prescribing provider shall review the continued medical necessity of durable medical equipment or supplies billed to Medicaid at least annually. Some items will be required to have more frequent reviews. A durable medical equipment provider enrolled under 7 AAC 105.210 who repairs a durable medical equipment product may only request payment if the product is still medically necessary. 
2. The corresponding labor rate is at or below the listed cost on the Alaska Medicaid DMEPOS Fee Schedule, Tables 1-5 through 1-9, adopted by reference in 7 AAC 160.900, for which Center for Medicare and Medicaid Services has issued a price for each 15 minutes of labor costs.
3. The billing for a repair part must reflect a charge that complies with the applicable standards (7 AAC 145.020);
4. Labor and repair parts for the item must be documented, and the documentation must be submitted with each claim; documentation must include
   i) A statement signed by the recipient or the recipient’s authorized representative that describes the cause for and nature of the repair.
   ii) A description of the item being repaired and its serial number, if available.
   iii) The beginning and end dates of warranty coverage, if available.
   iv) documentation for labor charges that includes the amount of time spent on the repair, rounded up to the nearest quarter hour, and the hourly rate charged for the repair; and
   v) an itemized list of parts used in the repair and associated costs.
5. A provider may not submit a claim for labor and repair parts if the item is covered under a manufacturer’s or supplier’s warranty, or if the labor or parts are necessary to repair an item that needs repair because of a manufacturer’s defect.
6. A provider may not submit a claim for labor and repair parts for a rented item; the provider shall ensure that a rented item functions as intended after the provider repairs or replaces the item.

The Alaskan Medicaid Wavier Program provides environmental modification services to eligible individuals who need home modifications to stay independent in their home.  The program supports projects up to $18,500 every three years.  Home modifications such as a wheelchair ramp, widening doorways, or bathroom grab bars.

For more information: See the State of Alaska Dept of Health Division of Senior and Disabilities Services website on Environmental Modifications (click to be redirected).  

Insurance polies vary on what they will or will not cover for home modification, durable medical equipment, and other adaptations needed to improve an elder or disabled adult’s independence.

Medicare Part B

Medicare Part B will provide recipients with durable medical equipment coverage for items that are approved by prescription from your primary provider.  The equipment must be determined as medically necessary and is portable to be accessed in several places per Medicare.  This coverage will not pay for home modifications such as ramps, doorways, grab bars, stairlifts, or shower chairs.

Long-Term Care Insurance

Long-Term Care insurance policies vary, but many offer home modifications that are for safety, accessibility, and are determined as medically necessary.  Often covered expenses will include ramps, grab bars, and shower handles.

Home and/or health insurance, grants, and governmental benefits all offer different coverage of durable medical equipment and home modifications. This section will review a few of the home modification items and coverage associated with the items.

Walk-in Showers: 

Walk-in-showers are showers spaces that offer a limited or no rise to enter and may or may not allow for a wheelchair to roll-into the space. Coverage varies for these items:

Medicare: Does not cover walk-in showers
Medicare Advantage Plan:  Some Medicare Advantage plans will cover home modification such as walk-in showers.  Check your specific policy for details.
State Medicaid Wavier: Will cover walk-in showers if determined to be medically necessary.
Grants:  VA and other grants will cover walk-in showers that are medically necessary.

Toilet Risers:

Toilet risers are a plastic cover that lays over the toilet to elevate the seat for ease of access and reducing falls.  Some risers have grabs bars on either side of the toilet for additional stability.

Medicare:  Will not cover toilet riser generally.  They however do have some exceptions when the item is medical necessary for an individual’s safety.
Medicaid Wavier/Medicaid: Will cover toilet risers if prescribed by a medical provider as medically necessary.
Private Health Insurance:  Some will cover if determined as medically necessary.

Home Elevators and Home Lifts:

Home elevators and home lifts come is various styles and aid in the mobility of an individual throughout their home.  The insurance coverage for elevators or lifts is limited.

Medicare:  Will not cover the expense for an elevator or home lift.
Private Health Insurance: Will not cover the expense for a home elevator or home lift.
Medicaid Wavier, VA, Grants, and Loans: could cover the expense of a home elevator or home lift, if medically necessary and justified by medical condition.

ATLA offers several programs for assistive technology equipment to support seniors and individuals with disabilities.  They offer statewide services throughout Alaska. ATLA is a public non-profit 501(c)3 agency which provides assistive technology solutions for Alaskans with disabilities. Assistive Technology of Alaska (ATLA) is the only private non-profit, statewide, comprehensive, resource center serving Alaskans of any age to make informed decisions about assistive technology that best meets their needs at work, school, home or just in life!

Assistive Technology of Alaska (ATLA) – ReUse Program

Program Description:
  Lightly used equipment that has been donated to ATLA and can now be used by another person through their ReUse Program.

Donate Unwanted Tech & Tools Process

Step 1: Drop off lightly used assistive technology equipment to ATLA.
Step 2: ATLA will determine if devices meet quality standards.
Step 3: Devices cleaned and refurbished.
Step 4: Your donation is then given to an Alaskan in need.

Sources:
ReUse – Assistive Technology of Alaska
Assistive Technology of Alaska (ATLA) – ReUse Program

Assistive Technology of Alaska (ATLA) – TechAbility

Program Description:
TechAbility grant funding was supported by the Alaska Mental Health Trust and provided by the Alaska Department of Health & Social Services (Grant No. C12-038-20001). It provides free lifetime equipment loans for qualified Alaskans with disabilities who are Alaska Mental Health Trust Beneficiaries.

Type of Medical Equipment: Assistive Technology (AT) equipment in the following areas of need included in TechAbility:

1. Communication;
2. Computer Access;
3. Daily Living;
4. Environmental Adaptations;
5. Hearing;
6. Mobility, Seating, & Positioning;
7. Recreation, Sports, & Leisure;
8. Vision.

Details:
Meet with an ATLA specialist for a brief consultation to help determine qualifications and appropriate assistive technology from TechAbility devices’ inventory. Equipment will be provided to the beneficiary at no cost. Assistance will ensure you have the opportunity to implement the equipment and successfully enhance your quality of life.

Sources:
TechAbility – Assistive Technology of Alaska 
TechAbility Handout

Assistive Technology of Alaska (ATLA) – Alaska Can Connect

Program Description:
This program provides a wide range of hardware, software and applications to suit the varying communications technology needs of people who have hearing and vision loss at no cost to qualified applicants. Qualified applicants are Alaska residents who have significant hearing and vision loss OR are Deaf and Blind, with an annual income 400% above federal poverty level.

Type of Medical Equipment:
Hardware, software and applications to suit the varying communications technology needs of people who have hearing and vision loss

Other Details:
Examples include products that are available to the general public and may be accessible to people with hearing and vision loss or products that are adaptable through the use of specialized equipment, such as screen enlargement software, screen readers or braille displays.

Sources:
Alaska Can Connect – Assistive Technology of Alaska

Click on the titles in green for more information.

Fannie Mae Loans

Fannie Mae purchases mortgages from lenders and bundles them into mortgage-backed securities (MBS) that we sell to investors to promote a healthy housing market. 

Fannie Mae HomeStyle Renovation Mortage – Lets homebuyers and owners finance the cost of renovations (including accessibility improvements) with a single mortgage, with flexible use of funds for permanent upgrades and modifications.

Fannie Mae HomeStyle Energy – Financing designed for improvements meant to reduce utility costs and improve the comfort and safety of homes.

Freddie Mac Loans

Freddie MAC enables America’s families to access mortgage loan financing with better terms and support the overall economy.

Freddie Mac CHOICERenovation Mortgages – Allows borrowers to finance home purchase and renovations in a single mortgage, including accessibility upgrades. Suitable for a range of primary and investment residences with competitive rates and single-close convenience.

Reverse mortgages are increasing in popularity with seniors who have equity in their homes and want to remain in their homes or supplement their income. The only reverse mortgage insured by the U.S. Federal Government is called a Home Equity Conversion Mortgage (HECM) and is only available through a Federal Housing Administration (FHA)-approved lender. The HECM is the FHA’s reverse mortgage program that enables you to withdraw a portion of your home’s equity to use for home maintenance, repairs, or general living expenses. HECM borrowers may reside in their homes indefinitely if property taxes and homeowner’s insurance are kept current.

HECM features:

• • • Eligible for homeowners over the age of 62 years
    • Eligible for homeowners over the age of 62 years
    • No limit on draw period
    • No minimum payments required
    • Lender cannot freeze or reduce loan amount
    • Home NOT subject to foreclosure unless taxes or insurance is unpaid
    • Borrowers and their heirs never pay more than the home’s fair market value when the loan matures

The amount that will be available for withdrawal varies by borrower and depends on:

• • • Age of the youngest borrower or eligible non-borrowing spouse.
    • Current interest rate; and
    • Lesser of appraised value or the HECM FHA mortgage limit or the sales price.
    • If there is more than one borrower and no eligible non-borrowing spouse, the age of the youngest borrower is used to determine the amount you can borrow.
    • You can also use a HECM to purchase a primary residence if you are able to use cash on hand to pay the difference between the HECM proceeds and the sales price plus closing costs for the property you are purchasing. To learn more about FHA’s HECM program:

Counselors:

• • • To find a reverse mortgage counselor near you, search the HECM Counselor Roster or call (800) 569-4287.
    • To find a reverse mortgage counselor that provides telephone and face-to-face counseling nationwide, use the HUD Intermediaries Providing HECM Counseling Nationwide list.

Lenders:

Residential Mortgage
301 N. Franklin St.
Juneau, Alaska 99801
Phone: (907) 523-7100

2491 Tongass Ave
Ketchikan, Alaska 99901
Phone: (907) 228-4656
Website: https://www.residentialmtg.com/

American Pacific Mortgage
3000 Lava Ridge Court, Suite 200
Roseville, CA 98661
Email: Info@CapitalHomeMortgage.com
Phone: (907) 531-5048
Website: https://capitalhomemortgage.com/alaska/mortgage-lender/

There are limited lenders in Alaska approved for HECM loans, however, two financial institutions in Washington State are approved for business in Alaska.

Evergreen Money Source MTG Company 
15405 SE 37th ST. STE 200
Bellevue, WA 98006
Phone: (425) 974-8562
Fax Number: (206) 774-7593
Website https://www.evergreenhomeloans.com/

FAIRWAY INDEPENDENT MORTGAGE CORPORATION
112 Prospect ST
Bellingham, WA 98225
Phone: (360) 676-9600
Faz Number: (360) 392-6111
Website: https://www.fairway.com/

Alaska Housing provides renovation options covering three possible scenarios for all Alaskan residents:

• Purchase Renovation
  • Renovations in conjunction with a purchase
• Second for Renovation
  • Improvements to a home you already own
  • Up to $100,000 w/alternative evaluation
  • Up to $574,912 w/appraisal
  • Up to a 30-year term
• Refinance Renovation
  • Incorporates renovations into a new loan.

Eligible Properties:

• Owner-occupied single-family residences, duplexes, triplexes, fourplexes, condominium units or Type I manufactured homes may be eligible under all three renovation options.
• Rural non-owner-occupied duplexes, triplexes and fourplexes are eligible under the purchase renovation or refinance renovation option only.

Loan to value (LTV): LTV is based on the “as-completed” appraised value. Appraisal must address the planned renovation with estimated market value of the home after the renovations are completed.

Cost estimates: Written estimates must be supported by a bid or contract signed by a licensed contractor. Borrowers doing the work themselves must provide evidence of their qualifications to complete the project.

Appraisal: For Purchase Renovation loans an “as-is” and “as-complete” value is required. For Refinance Renovation loans only an “as-complete” value is required. The appraisal must clearly discuss the existing property; renovations proposed and include a discussion of materials used.

How do I Access the Funds? Funds are deposited into an escrow account with your lender, allowing you to access periodic disbursements for purchasing supplies, paying contractors, and carrying out the project. Unused escrow funds will be applied to the principal.

Considerations: Renovations must comply with state laws regarding contractor licensing & minimum construction standards. Any addition (new construction) to a property where the original construction began on or after 1/1/92 (energy) or 7/1/92 (inspections) is subject to thermal standards and mandatory inspections. Engineers’ evaluation may be required. If an addition is being added to a home built prior to 1992, an engineer’s evaluation or home inspection may be required. Additions must comply with lot setbacks and not create any encroachment(s).

Approved lenders: To begin, contact an Alaska Housing Finance Corporation approved lender to help identify the right option for you. The following are the approved lenders in Southeast Alaska.

To promote the energy efficiency of existing and newly constructed homes, Alaska Housing offers interest rate reductions to homebuyers for properties meeting certain criteria.

How the Energy Efficiency Rate Reduction Works

Alaska Housing offers interest rate reductions when financing new or existing energy-efficient homes or when borrowers make energy improvements to an existing home. Any property that can be energy-rated, and otherwise eligible for Alaska Housing financing, may qualify for this program.  Interest rate reductions apply to the first $250,000 of the loan amount. A loan amount exceeding $250,000 receives a blended interest rate rounded up to the next 0.125%. The percentage rate reduction depends on whether or not the property has access to natural gas. The blended rate at $250,000 applies to loan commitments that were issued on or after 10/1/24.  Any loans that were committed prior to 10/1/24, the interest rate reduction applies to the first $200,000. Many things can be done to make a home more energy efficient. Some upgrades come in the form of renewables.  These bonus renewable points do not count in the calculation for the interest rate reduction.  Only the home’s energy rating and points count in the calculation for the interest rate reduction.

NEW CONSTRUCTION

One of the following rate reductions may apply on newly constructed properties that exceed the minimum Alaska Building Energy Efficiency Standard (BEES). All homes constructed on or after July 1, 2013, must meet BEES 2012.

EXISTING ENERGY-EFFICIENT PROPERTIES

Existing properties (completed for more than one year or previously occupied) may be eligible for one of the following rate reductions.

EXISTING PROPERTIES WITH ENERGY IMPROVEMENTS

The lender must notify Alaska Housing at the time of application that the borrower intends to participate in the program. Within 365 days of loan closing the borrower must obtain an initial energy rating, complete the improvements, obtain the final energy rating and within 30 days of the final rating submit documentation to the loan servicer. To be eligible for a potential interest rate reduction, the home must increase at least one step and a minimum of 5 points.

Renewable bonus points do not count towards the minimum points needed, nor do they count towards points or steps for the interest rate reduction.  Only your home points count when determining the potential interest rate reduction.

Energy Raters in Southeast Alaska:

Name                        Phone                   Location           Company                                    Email Contact

Approved Lenders in Southeast Alaska:

Choosing the Best Loan Option

The best home renovation loan depends on your individual circumstances, including:

• Amount of equity: If you have substantial home equity, a home equity loan or HELOC may offer lower interest rates.
• Project scope: For a single, large project, a home equity loan or cash-out refinance might be suitable. For multiple projects or ongoing access to funds, a HELOC can be more flexible.
• Risk tolerance: Personal loans don’t put your home at risk, but home equity loans and HELOCs do, as your home serves as collateral.
• Time frame: Personal loans are generally quicker to obtain, while secured loans may involve a longer process.

Always seek professional advice from a financial advisor or mortgage professional for personalized guidance based on your specific situation.

1. Determine how much you need to borrow and define your renovation goals: Get detailed cost estimates from reputable contractors.
2. Review loan requirements and your financial situation: Lenders typically assess your credit score, debt-to-income ratio, income stability, and home equity (for secured loans).
3. Consider alternatives: Evaluate if a home equity loan, HELOC, or a personal loan is the best fit for your needs and financial situation.
4. Get prequalified with multiple lenders: This allows you to compare potential loan options and find the lowest interest rate without impacting your credit score.
5. Compare loan options: Consider factors like interest rates, repayment terms, fees (such as origination fees), and the maximum amount you can borrow.
6. Apply: Be prepared to provide financial documentation, including tax returns, proof of income, and details about your renovation project.

• Role: Act as intermediaries, connecting borrowers with multiple lenders. They don’t lend money directly.
• Access to lenders: Offer access to a wide network of lenders, including traditional banks, credit unions, and other financial institutions.
• Loan options: Provide a broad range of loan options from various lenders, increasing the chances of finding the best fit for unique circumstances.
• Expertise & advice: Offer expertise in unique situations and provide advice tailored to the borrower’s needs.
• Negotiation: May be able to negotiate better rates and deals on behalf of the borrower.
• Paperwork assistance: Help with paperwork and the loan application process.
• Fees: Typically earn a commission for their services, which may be paid by the borrower or the lender. 

• Role: Directly originate, approve, and fund loans. Examples include banks, credit unions, and other financial institutions.
• Loan options: Offer their own specific range of loan products.
• Interest rates: May offer lower interest rates and faster processing for standard loans, particularly for borrowers with good credit.
• Relationship: Borrowers work directly with the lender’s loan officers throughout the process. 

• You have specific or unique financial needs.
• You want to explore a wide range of loan options and lenders.
• You prefer personalized advice and assistance with the loan application process.
• You want help negotiating the best possible rates and terms. 

• You have a good credit score and a stable financial history.
• You are looking for standard loans like a 30-year fixed-rate mortgage.
• You prefer a direct relationship with the lender throughout the process.
• You prioritize faster service and potentially lower interest rates for standard loans. 

• Shop around: Regardless of your choice, it is crucial to obtain quotes from multiple lenders or brokers and compare their rates and fees to ensure you are getting the best deal.
• Understand all costs: Focus not only on the interest rate but also the Annual Percentage Rate (APR), which includes other costs like points and mortgage insurance.
• Review loan estimates carefully: Utilize tools like the Loan Estimate to compare different offers and ensure a thorough understanding of the loan terms.

Regional Conventional Lenders: Conventual loans are mortgage loans that are not insured or guaranteed by the government.  Instead, conventual loans tend to be backed by the two government-sponsored enterprises known as Fannie Mae and Freddie Mac.  Conventional loans are a popular option for homebuyers who can meet the eligibility criteria, as they offer flexibility, competitive interest rates, and offer potential long-term savings. Click on the name below to be redirected to the lenders’ website, if a “home improvement….” is listed, the lender offers an additional page just for renovations.

Key Bank 
Home improvement loans

Wells Fargo
Home Improvement Loans

Residential Mortgage

Tongass Federal Credit Union 

Global Credit Union 

First National Bank Alaska
Home Renovation Loans

Northrim Bank 

First Bank

True North Federal Credit Union

NuVision Credit Union 

A mortgage broker is an intermediary who assists individuals and businesses in securing mortgage loans. They do not lend money themselves but instead act as a link between borrowers and potential mortgage lenders, such as banks and financial institutions. In essence, a mortgage broker simplifies the complex mortgage application process for borrowers by connecting them with suitable lenders, assisting with paperwork, and providing expertise throughout the journey to securing a home loan.

Residential Mortgage

Alaska Heat Smart is a non-profit business located in Juneau working to improve home comfort while reducing heating bills by utilizing clean renewable energy.  They offer education about heat pumps, financial options, energy assessments (in Juneau and Sitka in-person and virtually in other communities).

For additional information about the Alaska Heat Smart Program, click on links (blue).

Heat Pump loans True North Federal Credit Union has partnered with Alaska Heat Smart, a Juneau based non-profit, to offer low-cost financial options for property owners desiring to install heat pumps in their home or business.

Energy Assessment Program The energy assessment provides a detailed report outlining what heat pump system will work best in your home, other energy                                                                                                   improvements, and support for financial planning.

Home insurance can help cover some of the additional costs associated with aging or becoming disabled through various general safety improvements, but it will not cover all of your environmental changes needed to support an old or new disability.

HomeMAP^TM is SAIL’s trademarked, innovative program designed to help you determine what changes you need to make in your residence so you can live longer and safer in your home. Surveys show that 95% of us want to live in our own homes as long as we possibly can, SAIL’s HomeMAP program is designed to help meet that goal.

The program entails a home survey, in which a SAIL team who know independent living equipment and ADA remodeling standards, will visit you at home. The SAIL team will talk with you (and family caregivers who want to join) and will tour your home. The focus will be the concerns you have for yourself, for family members, or for those who visit you.  Aging in place is person specific. Not everyone will need an ADA accommodation to age in place. Brainstorming what is needed for you and those who visit you.  This is how HomeMAP can support your needs.

Following the HomeMAP survey, the SAIL team will send you a written report outlining possible solutions to your aging in place needs. This HomeMAP report can be helpful as you do your home modifications yourself or if you are working with a contractor.

A nominal fee scale is associated with HomeMAP. However, services will not be denied to anyone based on inability to pay. To find out more, please contact your local SAIL office.

Rural Alaska Community Action Program, inc. or RurAL CAP offers several programs to promote safe affordable housing in Alaska.  Their programing offers homeownership, housing resources, and home improvements supports. The Home Improvement programs available are: Click on topic to learn more

Weatherization – Program supporting various safety and energy home improvements at no charge in Juneau, Anchorage, Northern and Western Alaska.

Home Modification and Upgrades – Program to support home modifications and upgrades for those living with physical disabilities.

Mobile Home Repair – Program that improves safety and longevity of low-income mobile homes owners.

Senior Access – Program for low-income seniors, 55 years and older, to provide safe accessibility to their residence.

Home Safety Self-Assessment Tool Booklet (HSSAT) (PDF)- Fall prevention home Assessment tool developed by the Occupational Therapy Geriatric Group

National Institute on Aging Home Safety Checklist (PDF) – Self-assessment checklist for checking for potential safety hazards in the home of an older adult.