Capital Home Mortgage Fairbanks

Fairbanks Conventional Home Loans

Conventional Mortgage Lender Fairbanks Alaska

Conventional Home Loans in Fairbanks Alaska

To buy or refinance a property, you can use conventional loans, commonly referred to as conforming loans. Mortgages that are “conforming loans” are those that are purchased from lenders and offered to investors by government-backed companies that adhere to the standards set by Fannie Mae and Freddie Mac. Lenders can now provide qualified customers a larger sum of money. Although it’s more difficult to be qualified for conventional loans, they are less expensive than FHA loans. Many mortgage providers provide conventional mortgages, which are mostly utilized for purchasing and refinancing properties.

They are the most typical type of home loan and are provided by private lenders who must go by regulations established by Fannie Mae and Freddie Mac.

traditional loan products
Loans that comply with the regulations are known as conforming loans.
Mortgages that adhere to various guidelines established by Fannie Mae and Freddie Mac as well as the FHFA are referred to as conforming loans. They must abide with the rules in order to sell loans to Fannie Mae and Freddie Mac. Long-term stability and additional funding are provided by this to the mortgage industry.

Even while conventional loans are all conforming loans, they are not the same thing. A FICO score of at least 620 is required for a conventionally conforming loan. Between three and five percent of the item’s price is requested as payment. Private mortgage insurance must be applied to the loan if the borrower makes a 20% down payment (PMI).

loans that do not adhere to the regulations
Mortgages classified as non-conforming loans don’t adhere to the standards imposed by Freddie Mac and Fannie Mae, two government-backed corporations that invest in mortgage loans. The Federal Housing Finance Agency establishes these requirements (FHFA). Jumbo loans larger than the conforming loan limit are referred to as non-conforming loans.

FHA mortgages
A loan with the Federal Housing Administration’s backing is known as an FHA loan (FHA). The Federal Housing Administration is operated by the Department of Housing and Urban Development, an agency of the government (HUD). FHA loans are designed to make it easier for borrowers with low and moderate incomes to get a mortgage.

One of the best features of an FHA loan is that it only requires a 3.5% down payment for borrowers with credit scores of at least 580. Furthermore, compared to conventional loans, FHA loans frequently have cheaper closing costs.

Lenders must abide by the agency’s rules in order to qualify for an FHA loan. Once a loan has been approved, the FHA insures it to protect the lender in the event that the borrower defaults on the loan.

VA Mortgage Loans
Although offered by private lenders like banks and mortgage firms, VA home loans are supported by the U.S. Department of Veterans Affairs (VA). The VA will partially reimburse the loan balance if the borrower defaults.

In order to enable Servicemembers, Veterans, and surviving spouses who meet specific criteria buy a home, VA home loans are available. The program helps borrowers buy, build, fix, maintain, or modify a home for their personal use by providing a home loan guarantee and other housing-related services.

The conditions of a VA home loan are frequently better than those of a loan from a private lender. If a borrower meets the qualifications for credit and income and has a Certificate of Eligibility (COE), they may apply for a VA home loan.

the USDA-backed mortgages
A mortgage that doesn’t call for a down payment and is supported by the U.S. Department of Agriculture is known as a USDA-guaranteed house loan, also known as a USDA loan or a Rural Development loan (USDA). These loans, which are backed by the government, can be used to purchase, construct, repair, or refinance real estate. They are designed for low- to moderate-income individuals and families who reside in rural areas of the nation.

The home must be located in an area that qualifies for a USDA loan, and the borrower’s income must be sufficient. Only lenders who have been given USDA approval may offer USDA loans.

Big Loans
Jumbo mortgages, also known as non-conforming loans, are larger than those that Fannie Mae and Freddie Mac will approve. These government-backed businesses purchase the majority of American house loans, package them, and then offer them to investors.

A jumbo mortgage can be obtained for an investment property, a second house or vacation home, or your primary residence. They are available with various terms, such as fixed-rate and adjustable-rate loans. Borrowers need to have a good credit score and a low debt-to-income ratio. Jumbo loans tend to have higher interest rates and stricter underwriting requirements than standard mortgages because they are larger in size. They typically also demand a larger down payment.

Obtain a typical loan.
It’s a huge thing to buy a property, and Capital Home Mortgage can make the process as simple and enjoyable as possible. We are a full-service mortgage provider with a wide range of mortgage options and a commitment to offering the best client care in the business.

To start the process of becoming a homeowner, give us a call at (907) 531-5048 and speak with one of our home loan specialists.

Why Fairbanks 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

Fairbanks 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

Conventional Purchase Loans FAIRBANKS Alaska

Conventional Purchase Mortgage Lender

Conventional Purchase Loans are one of the most popular types of loans and a great choice for many home buyers. Conventional mortgages can be used to purchase any type of occupancy, while FHA, USDA, VA and Native American Loans are restricted to primary residence only. Conventional mortgages are great for borrowers that have higher credit scores and typically have easier qualifying.  

  • Freddie Mac or Fannie Mae Insured
  • Primary, 2nd or Investment Homes
  • Single and Multi Family
  • Condo’s and Manufactured Homes
  • Mortgage Insurance Options
  • Lower Rates & Fleixble Terms
  • Maximum Loan Amount – $766,550
  • High Balance (Varies By County)

Conventional Refinance Loans FAIRBANKS Alaska

Conventional Refinance Mortgage Lender

Conventional Refinance Loans are used for more refinances than any other type of mortgage loan.   This is due to Conventional loans allowing for all occupancy and property types and typically don’t require any mortgage insurance due to loan to value requirements. Conventional mortgages due require higher credit scores but offer better rates.  

  • Freddie Mac or Fannie Mae Insured
  • Primary, 2nd or Investment Homes
  • Single and Multi Family
  • Condo’s and Manufactured Homes
  • Mortgage Insurance Options
  • Lower Rates & Flexible Terms
  • Maximum Loan Amount – $766,550
  • High Balance (Varies By County)

Conventional Renovation Loans FAIRBANKS Alaska

Conventional Renovation Mortgage Loans

Want a new home? Don’t want to purchase a home from a builder?  Prefer the charm of an older home, or the elegance of a mature neighborhood… Or just want the perfect location close to town.  Making your dream home come true might just be updating that older home. 

  • 95% LTV Primary  Residence
  • 97% LTV 1st Time Buyer Single Family
  • 85% LTV on 1 Unit Investment
  • 90% LTV on Second Home
  • Minimum Credit Score 620
  • Luxury Renovations are Eligible
  • Maximum Loan Amount – $766,550
  • High Balance (Varies By County)
Fairbanks Mortgage Programs

Fairbanks Home Purchase

Thinking of Buying a Fairbanks 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

Fairbanks renovation home loans

Looking to Rehab a Fairbanks 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

Fairbanks FHA Home Loans

Great for 1st Time Fairbanks 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

Fairbanks VA Home Loans

100% Financing for Fairbanks 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

Fairbanks Conventional Home Loans

Flexibility for Fairbanks 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

Fairbanks Jumbo Home Loans

Fairbanks 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

Fairbanks USDA Home Loans

100% Rural Fairbanks 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

Fairbanks Native American Home Loans

Fairbanks 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

Fairbanks Manufactured Home Loans

Great Alternative Fairbanks Housing

Fairbanks reverse mortgages

Your Fairbanks 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

Fairbanks Non QM Home Loans

Making Fairbanks 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

Fairbanks One Time Close mortgages

Build Your Fairbanks 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

Fairbanks Refinance Mortgage Loans

Fairbanks 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

Fairbanks Cash-out Home mortgages

Fairbanks 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

FairBanks 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

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