Home Loans In Juneau Alaska 

Welcome to Capital Home Mortgage Juneau. Juneau is Alaska’s capital city as well as its third-most populous. Downtown Juneau sits at the base of Mount Juneau, which was initially named Gold Mountain. 

The real estate situation in Juneau has seen its share of ups and downs. Housing here is a joint effort between local authorities and community-based initiatives. The Juneau Economic Development Council has even listed housing programs and resources for interested individuals.

When exploring house buying options, you’ll most certainly come across the terms — “fixed-rate” and “adjustable-rate” mortgages. It’s essential to understand what they mean and how they can impact the viability of your home loan. 

Fixed-Rate Mortgage vs. Adjustable-Rate Mortgage

When we talk about these mortgage terms, we’re talking about interest rates. Interest is the fee you pay for funds borrowed in the concept of mortgages, interest compounds.

It means that interest earns interest because it’s added to the principal balance of your mortgage unless you pay off the interest.

• Fixed-rate Mortgages

From the term itself, this simply means the interest rate of this mortgage is fixed. So from the first year up to the last year of mortgage payments, the rate remains unchanged. 

The main advantage of a fixed-rate mortgage is that it protects you from changes in interest rates due to market movements. However, its downside is borrowers will miss out on more favorable payments if market rates drop.

• Adjustable-rate Mortgages

An adjustable-rate mortgage (ARM) changes interest rates based on the adjustment frequency (e.g., yearly, every five years). Changes in interest are based on market movements as reflected in indices. 

An index measures the change in the securities market, and they are used as a benchmark. In the case of ARM, the interest rate of your mortgage will change based on the movement of the index.

Interest rates may go down if the market improves, and the opposite happens if the market worsens.

The most significant advantage of an ARM is that it’s cheaper during the first few years, more so if interest rates go down. However, if interest rates go up, your monthly payments will be higher, and you’ll pay more interest. 

Juneau, Alaska Home Loans

Finding the right home loan can be complex, especially if you’re a first-time homebuyer or not knowledgeable in finance. Our Juneau Alaska mortgage experts at Capital Home Mortgage are here for you.

We’re happy to walk you through the application process and answer any questions you may have about home loans in Juneau. 

Capital Home Mortgage is a direct lender offering a wide selection of loan programs, including Conventional, Jumbo, and government-backed home loans. We make all the decisions in the loan process while also offering lower fees and competitive interest rates on approved loans. 

Get a Home Loan in Juneau

At Capital Home Mortgage, we understand that the decision to buy a home is one of the biggest you’ll ever make. That’s why we pride ourselves on simplifying the home loan process, from application to funding. We value excellent customer service and work tirelessly to ensure a smooth home buying experience. 

Talk to our mortgage experts today and explore our mortgage packages for Juneau, Alaska. Contact us at (907) 531-5048 to get started with a no-obligation quote.