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Home Loan Programs In Alaska

Alaska is the seventh-largest subnational division in the world and the largest state in the United States in terms of land area. It has more land area than the three largest states, Texas, California, and Montana. It is the third-least populated and most sparsely populated U.S. state, but as of 2020, it will have the most people living north of the 60th parallel, with a population of 736,081. More than four times as many people live together in Northern Canada and Greenland. Juneau, the capital of Alaska, is the second-largest city in the United States by area. Sitka, which used to be the capital of Alaska, is the largest city in the United States by area. About half of the people in Alaska live in the Anchorage metropolitan area.

If you’re thinking about making Alaska your permanent home, you’re looking into different mortgage programs to find one that allows you to buy the house of your dreams. The good news is there are a lot of home loan programs in Alaska.

Types of Alaska Home Loans

Various home loan programs are available to finance a home’s purchase, with conventional conforming loans being the most popular among homebuyers. However, different reasons wouldn’t qualify every borrower for a conventional loan. From government-insured and guaranteed mortgage loans to Non-Conforming mortgage loans, there’s a home loan program that fits every borrower’s preferences.

  • Conventional – Conforming Home Loans

Conventional loans and conforming loans are considered by many to be the same type of loan because there is an overlap between both. All conforming loans are conventional loans, but not all conventional loans are conforming loans. Conventional loans are characterized by the sort of lender who makes them available.

Both Fannie Mae and Freddie Mac, the two major mortgage buyers in the United States, require that loans conform to their rules before they purchase them. Contrarily, non-conforming loans do not adhere to the standards mentioned above and cannot be sold to Fannie Mae or Freddie Mac.

  • FHA Home Loan

A Federal Housing Administration (FHA) loan is a mortgage insured by the federal government and issued by an agency-approved bank or other lenders. It is intended to help families with low to moderate incomes become homes. They are especially well-liked among first-time homebuyers.

  • VA Home Loan

A VA loan is a mortgage offered by a private lender such as a bank, credit union, or mortgage company and guaranteed by the U.S. Department of Veterans Affairs. Typically, a VA loan does not require a down payment, making it easier to purchase a home. VA loans are restricted to qualified U.S. veterans, active-duty military personnel, and their surviving spouses.

The VA’s guarantee means that if the borrower defaults on the loan, the government will pay back a portion of the loan to the lender. This reduces the risk for lenders, which means they can offer better terms and not require a down payment.

  • USDA Guaranteed Home Loan

The Section 502 USDA Guaranteed Loan Program helps approved lenders offer low- and moderate-income households in eligible rural areas the chance to own good, modest, decent, safe, and clean homes. Applicants who qualify can get 100% financing to buy, build, fix up, improve, or move a home in a rural area that qualifies. The program gives approved lenders a 90% loan note guarantee to reduce the risk of providing 100% loans to eligible rural homebuyers. This means those who qualify can buy a home with no down payment.

  • Jumbo Loans

Jumbo loans are mortgages used to fund properties that are too costly for conforming loans. The Federal Housing Finance Agency determined the maximum conforming loan amount for each state and or county.  A jumbo loan is required for properties that exceed the local conforming loan limit.

Jumbo loans, also known as non-conforming conventional mortgages, are riskier for lenders because Fannie Mae and Freddie Mac cannot guarantee them, meaning the lender is not covered against default losses. Typically, jumbo loans are offered with either a fixed or variable interest rate and a choice of terms.

  • Non-Qualified Mortgage 

A non-qualified mortgage, or non-QM, is a mortgage loan not required to meet the Consumer Financial Protection Bureau’s (CFPB) agency-standard documentation and verification requirements. They are designed to help home buyers who cannot meet the strict criteria of a “qualified mortgage.”

Non-qualified mortgages are not insured or guaranteed by government agencies such as the FHA, VA, Fannie Mae, or Freddie Mac.

Apply For A Home Loan With Capital Home Mortgage Alaska

Capital Home Mortgage is a direct mortgage lender and servicer in Alaska, providing consumers with a wide range of mortgage choices. Whether you were born in Alaska or are a newcomer to the state, Capital Home Mortgage can identify the financing option that best fits your needs and budget. We are here to assist you if you need a mortgage to buy, refinance, or consolidate your loans.

Call our Home Loan Specialists at (907) 531-5048 and get started on home ownership!

Why Alaska HomeBuyers are Choosing Capital Home Mortgage
Close On Time

Complete Control from Application to Funding

Low Rates & Low Fees

Direct Lender with Competitive Rates & Low Fees

Exceptional Service

7  Day a Week Support Application to Final Mortgage Payment

Alaska Mortgage Rates

Have you ever wondered why interests rates are what they are and what determines the final rate?  Why borrowers receive different interest rates? Or why rates go up and down?  Interest Rates are calculated using several factors.

  • Demand for the mortgage Securities
  • Property securing the mortgage
  • occupancy of the property
  • Loan to value of the property
  • Borrower’s credit worthiness
Alaska Mortgage Programs

Alaska Home Purchase

Thinking of Buying an Alaska Home?

Looking to Purchase a Home? We have the loan program for you… Call today to speak with a loan officer to discuss your personal mortgage options.

  • Primary, Secondary, Investment
  • FHA, VA, USDA, Native American
  • Conventional, Jumbo, Non QM
  • Reverse, Renovation, Manufactured

Alaska renovation home loans

Looking to Rehab an Alaska Home?

Want the Charm of an Older Neighborhood? But want a new place or a fresh look? Why not look at a renovation loan?  Purchase the Perfect Home and make it your own. Call today.

  • Remodel, Renovate or Repairs
  • FHA 203K Streamline or full
  • fannie mae homestyle reno
  • freddie mac home choice reno

Alaska FHA Home Loans

Great for 1st Time Alaska Homebuyers

FHA Home Loans are great for first time home buyers, buyers with less than perfect credit, or buyers needing less out of pocket.   Call today to get started.

  • Smaller Down Payment
  • Flexible Underwriting
  • Higher Debt to Income Ratios
  • Lower Credit Scores OK

Alaska VA Home Loans

100% Financing for Alaska Veterans

Proudly Serving Active Duty servicemen and women, as well as, retired and disabled veterans. Call today to speak with a VA loan officer.

  • Simply Qualifying for Veterans
  • No Down Payments Requirements
  • Lower Credit Scores Accepted
  • Manual Underwriting Allowed

Alaska Conventional Home Loans

Flexibility for Alaska Homebuyers

Conventional Home Loans are the best option for flexibility of property types and for mortgage loan terms. Call today to get speak to a Loan Officer.

  • Primary, 2nd Home, Investment
  • Great Rates & Low Fees 
  • Single Family and Multi-Family
  • Renovation Loan Programs

Alaska Jumbo Home Loans

Alaska Non Conforming Loans

Jumbo Home Loans also called Non Conforming Home Loans are great options for buyers needing financing outside of agency limits.  Call today to speak to a loan officer.

  • Primary Residence and 2nd Homes
  • Higher Loan Amounts – 3 Million
  • Great Interest Rates
  • Investor Specific Guidelines

Alaska USDA Home Loans

100% Rural Alaska Home Loans

USDA Loans are a great option for families wanting to live outside of the city.  Call today to speak with a loan officer to discuss your personal loan options.

  • Rural Properties Only
  • Primary Residence Only
  • Geographic Restrictions
  • Income REstrictions

Alaska Native American Home Loans

Alaska HUD 184 Home Loans

HUD 184 Home Loans are solely for Native American and offer a variety of benefits.  Call today to speak with a loan officer to find out more.

  • Primary Residence Only
  • Manual Underwriting for All Loans
  • No Credit Score Requirements
  • Tribal Grants Allowed

Alaska Manufactured Home Loans

Great Alternative Alaska Housing

The One Time Close Manufactured Home Loan offer options to purchase your dream home on your own land. Call today to speak to a Loan Officer.

  • Purchase the Home and Land Together
  • Include the Utilities and Home Setup
  • Lock Rate at Contract
  • Variety of Loan Programs to Choose From.

Alaska reverse mortgages

Your Alaska Home at Work

Reverse Mortgage Loans offer seniors options to use their home’s equity for cash or to eliminate payments. Call today to get speak to a Reverse Loan Officer.

  • primary residence only
  • simple qualifying – equity based
  • credit scores not applicable
  • Minimum age 62

Alaska Non QM Home Loans

Making Alaska Mortgages Possible

Looking for Non Traditional Home Mortgage Loan?  Contact a Loan Officer Today to discuss the alternative mortgage options currently available.

  • Purchase, Rate and Term & Cash-out
  • Primary, Secondary and Investment
  • Full Doc & Bank Statements Programs
  • Corporations OK

Alaska One Time Close mortgages

Build Your Alaska Dream Home

Want to Build? But unsure of what the future looks like? Remove the risk with a One Time Close Construction Loan.  Call today to see how a OTC loan works.

  • Primary Residence Only
  • Close Once
  • Lock Rate at Contract
  • Traditional Final Mortgage

Alaska Refinance Mortgage Loans

Alaska Rate & Term Refinance

Refinancing can be a hard decision and the payback can sometimes be confusing.  Call today and let our Loan Officers walk you through the process.

  • Reduce Mortgage Term
  • Lower Monthly Payments
  • Appraisal Waivers
  • Streamline Options Available

Alaska Cash-out Home mortgages

Alaska Equity Mortgage Loans

Cash-Out Mortgage Loans make use of the equity in your home by allowing you to refinance the current mortgage and access this equity to use as you see fit.

  • Debt Consolidation
  • Investment Opportunities
  • Home Improvement
  • Vacation or Education

Alaska Mortgage Team

Dale Gremillion

Manager / Sr Loan Officer
NMLS 210325

Conor Hayhurst

Manager / Sr Loan Officer
NMLS 743506

Brad Rund

Director Native American Lending
Director Manufactured Housing

Alaska Mortgage Company Reviews

Alaska Cities

Anchorage Home Loans

Fairbanks Home Loans

Juneau Home Loans

State Specific Mortgage Information

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