Best Alaska Mortgage Lenders

What Are Current Mortgage Rates?

Mortgage rates declined across the board this week, with the 30-year fixed rate falling further to 7.07%, according to the Mortgage Bankers Association. Less than two months ago, the rate on a 30-year mortgage was 7.9%. Additionally, the FHA loan rate dipped to 6.84%, making this government-backed mortgage a wise choice for prospective buyers.

• 30-year fixed: 7.07% with 0.59 points (previous week: 7.17% with 0.6 points).
• 15-year fixed: 6.67% with 0.58 points (previous week: 6.8% with 0.77 points).
• 5/1 ARM: 6.47% with 0.76 points (previous week: 6.58% with 0.69 points).
• 30-year jumbo loans: 7.22% with 0.37 points (previous week: 7.35% with 0.44 points).
• 30-year FHA loans: 6.84% with 0.72 points (previous week: 6.98% with 0.84 points).

• Available to: Eligible Alaska homebuyers who have not owned a primary residence in the last three years, unless the house is within a targeted area or if the homebuyer is a qualified veteran, along with other conditions such as acquisition cost limits.
• Income limits: Vary by area and household size (see income limits for non-targeted areas and targeted areas).
• First-time homebuyers only?: No.
• Benefits: Lower interest rates to eligible homebuyers.

• Available to: Eligible Alaska homebuyers who have not owned a primary residence in the last three years.
• Income limits: None.
• First-time homebuyers only?: No.
• Benefits: Reduced interest rate for qualified homebuyers.

• Available to: Eligible Alaska homebuyers purchasing a primary residence who have not owned a primary residence in the last three years and do not own other residential property within 50 miles of the home being purchased.
• Income limits: Vary by area and household size (see income limits).
• First-time homebuyers only?: No.
• Benefits: Interest rate reduction of 0.5% or 1%, depending on family income, on the first $180,000 of the loan amount.

• Available to: Eligible Alaska homebuyers purchasing a manufactured home in a mobile home park or on land, not on a permanent foundation.
• First-time homebuyers only?: No.
• Benefits: Ability to finance this particular type of home.

• Available to: Eligible Alaska homebuyers occupying the purchased property within 60 days of loan closing.
• Income limits: None.
• First-time homebuyers only?: No.
• Benefits: Competitive interest rate.

• Available to: Eligible Alaska homebuyers with a minimum credit score of 640 purchasing an owner-occupied residence.
• Income limits: None.
• First-time homebuyers only?: No.
• Benefits: Closing cost or down payment assistance of up to 4% of the initial principal balance of the loan, depending on credit qualifications.

• Available to: Eligible Alaska homebuyers who are qualified veterans.
• Income limits: Vary by area and household size (see income limits).
• First-time homebuyers only?: No.
• Benefits: A 1% interest rate reduction on the first $50,000 of the loan amount.

• Available to: Eligible Alaska homebuyers buying an energy-efficient property or improving the energy efficiency of an existing property they’re purchasing.
• First-time homebuyers only?: No.
• Benefits: An interest rate reduction of up to 0.750% based on energy efficiency standards on the first $200,000 of the loan amount.