Capital Home Mortgage Juneau

Juneau home purchase loans

Home Purchase lender Juneau Alaska

Home Purchase Loans In Juneau

The average increase in property values for single-family homes in Juneau during the past year was 16%. The surge in value was propelled by a significant demand for residential properties, limited availability of newly constructed dwellings, and a sharp escalation in construction expenses.

Purchase Loan Programs in Juneau

Juneau, Alaska, home buyers have various mortgage options when financing the purchase of a home. The most common purchase home loan programs in Juneau are the following:

  • Conventional Loans

A conventional mortgage in Juneau, Alaska, refers to a form of residential loan that lacks insurance coverage from a governmental entity. Typically, a minimum down payment is required, and the option of fixed or adjustable interest rates may be available. Private lenders usually provide these loans, which may or may not meet the criteria established by Fannie Mae and Freddie Mac, determining whether they are conforming loans.

The primary distinction between a conventional conforming loan and a non-conforming loan is the lending restrictions and underwriting standards established by Fannie Mae and Freddie Mac. Non-conforming loans exceed these boundaries and standards, whereas conforming loans meet them. Non-conforming loans have more onerous eligibility restrictions and may have higher interest rates due to their heightened risk.

Borrowers in Juneau typically require a minimum credit score, frequently 620 or higher, and a steady income. The benefits include lower interest rates and the chance to get the loan with as little as a 5% down payment, sometimes as little as 3%. Conforming loan maximum lending limits are determined annually and may vary by area.

Juneau’s 2023 conforming loan limits are $1,089,300 for a single-family home, $1,394,775 for a duplex, $1,685,850 for a triplex, and $2,095,200 for a quadplex.

  • FHA Loans

In Juneau, Alaska, an FHA home loan is a mortgage insured by the Federal Housing Administration under the direction of the United States Department of Housing and Urban Development, also known as HUD. Unlike conventional loans, FHA loans are designed to facilitate borrowers who may not meet conventional loans’ stricter criteria, such as those with lower credit scores or smaller down payments. These loans typically necessitate mortgage insurance premiums (MIP) to safeguard the lender against default.

The main distinctions between FHA and conventional loans are the qualifying requirements and mortgage insurance. Conventional loans are not government-backed and frequently have higher credit score requirements, whereas FHA loans have more flexible qualifying rules and require government-backed mortgage insurance. Conventional loans typically require private mortgage insurance (PMI) if the down payment is less than 20%. However, this can be eliminated after the borrower has 20% equity in the home. On the other hand, FHA loans demand mortgage insurance for the life of the loan unless a 10% down payment is made at the outset of the loan.

The basic eligibility requirements for an FHA loan in Juneau are typically a minimum credit score (generally around 580), a stable income, and a down payment as low as 3.5%. The benefits of choosing an FHA loan include a reduced down payment and more liberal credit standards, making it available to a broader spectrum of borrowers. However, these advantages come at the cost of paying mortgage insurance fees for the life of the loan.

For 2023, the FHA loan limits in Juneau are $533,600 for a one-unit home, $683,100 for a duplex, $825,700 for a triplex, and $1,026,150 for a quadplex.

  • VA Loans

In Juneau, Alaska, a VA home loan is a mortgage loan guaranteed by the United States Department of Veterans Affairs (VA). This loan is intended to offer long-term funding to qualified American veterans and, in some situations, their surviving spouses. One differentiating aspect of VA loans is that they often do not need a down payment, which can significantly reduce borrowers’ upfront costs.

A VA loan has no down payment, no private mortgage insurance (PMI), and often lower interest rates when compared to conventional loans. VA loans also have a one-time VA funding fee, which varies depending on the amount of the down payment and the type of veteran. This cost is typically included in the loan amount. Lower upfront and recurring fees, looser qualification conditions, and the possibility of refinancing to a cheaper rate through the VA’s Interest Rate Reduction Refinance Loan (IRRRL) program are among the benefits.

The basic VA qualifications for eligibility include completing a minimum period of service, which varies according to the time of service and the branch of the military. To be eligible for a VA loan, you must first get a Certificate of Eligibility (COE). In addition, while the VA does not impose a minimum credit score, lenders frequently have their own requirements that borrowers must achieve to receive the loan.

  • Jumbo Loans

A jumbo home loan in Juneau, Alaska, is a type of mortgage that exceeds the Federal Housing Finance Agency’s (FHFA) conforming loan limits. Private lenders typically provide such loans and are not guaranteed by the federal government. The principal characteristic distinguishing jumbo loans from conforming loans is the more significant loan amount.

The capacity to finance luxury residences or properties in high-cost areas, typically at competitive interest rates, is one of the primary benefits of jumbo loans. However, they have stricter underwriting standards, higher credit score requirements, and larger down payments. Because lenders consider jumbo loans riskier, borrowers may incur higher interest rates and costs than conforming loans.

A higher credit score, typically above 700, a lower debt-to-income ratio, and a larger down payment, typically 20% or more of the purchase price, are typical eligibility requirements for jumbo loans in Juneau. In addition, borrowers must provide extensive documentation of their income, assets, and employment history.

  • Construction Loans

A construction home loan is a short-term, interim loan used to finance the construction of a residence. In contrast to conventional mortgages, construction loans are disbursed in stages as construction milestones are met. The primary advantage is that you only pay interest on the disbursed amount, which is advantageous for the borrower.

The number of closings and loan applications distinguishes a one-time close construction loan from a regular two-time close construction loan. In a one-time close loan, the application and approval process is completed only once, and the construction loan automatically converts to a permanent mortgage upon completion. In contrast, a two-time close requires you to file for the construction loan first and then refinance into a permanent mortgage after completion. This requires two closings, two sets of fees, and possibly different interest rates.

A one-time close construction loan, usually called a construction-to-permanent loan,  provides financing that flows seamlessly from the construction phase to the permanent mortgage. The benefits include a single approval and closing, fixed interest rates for both the construction and permanent portions, and reduced associated fees. This loan type is especially advantageous for debtors who favor straightforward transactions and wish to lock in their interest rates.

  • Non-Qualified Mortgage Loans

In Juneau, Alaska, a non-qualified mortgage (non-QM) loan is a mortgage that does not adhere to the Consumer Financial Protection Bureau’s guidelines for qualified mortgages. Non-QM loans are more flexible than standard qualified mortgages, which require precise income documentation, a stable income-to-debt ratio, and other underwriting standards. This allows borrowers who do not meet the traditional criteria to obtain home financing.

Non-QM loans include interest-only loans, loans with stated income, and loans with balloon payments. Borrowers with interest-only loans pay only the interest for a set amount of time, making it more affordable in the short term. Because they do not require standard income verification, stated income loans benefit self-employed individuals.

The fundamental characteristics and benefits of non-QM loans are flexibility and accessibility. These loans appeal to a broader range of financial scenarios, from unpredictable revenue streams to higher debt-to-income ratios. While they sometimes have higher interest rates, they allow those who would otherwise be unable to obtain a mortgage to become homeowners. For many, the extra cost is a worthwhile trade-off in exchange for the ability to engage in real estate.

Apply for a Juneau Home Purchase Loan

Capital Home Mortgage Alaska is a well-known Juneau mortgage lender and servicer that offers a wide range of mortgage options to meet different needs. Our team of mortgage experts has a lot of knowledge and experience in the field. This lets us help you choose the best loan program for your budget and needs. Because every loan is different, our loan officers give customers the information, help, and flexibility they need to choose the best mortgage package. 

Call  (907) 531-5048 to speak with our Juneau Home Loan Specialists today!

Purchase Home Loans in Juneau Alaska

Capital Property Mortgage Juneau is available to assist you if you’re wanting to purchase a home in the Juneau Alaska. Homebuyers can choose the mortgage program that best fits their budget and level of financial responsibility because we provide a variety of mortgage packages. The ideal lending choice can be found with the assistance of our mortgage specialists for Juneau Alaska.

Conventional-conforming Home Purchase Loan Programs in Juneau Alaska.

The most popular type of house loan in the nation is a conventional conforming loan. A potential home buyer should be qualified for a conventional loan if they have a sizeable cash reserve and good credit. Good credit qualifies individuals for cheaper interest rates. If you want to avoid paying mortgage insurance, you must put down 20% of the total loan amount.

FHA Mortgages

A mortgage that is insured by the government is known as a Federal Housing Administration loan (FHA). These loans are insured by the FHA to protect lenders from possible financial risk. In order for a lender’s loan to be backed by the FHA in the event that a borrower fails on the mortgage, the lender must adhere to certain criteria set forth by the FHA.

The most often used type of FHA loan across the nation is the 203(b) loan program. The best candidates for FHA mortgages are borrowers who are unable to meet the strict requirements of conventional loans. FHA loans may be available to homebuyers with poor credit and low incomes.

The fact that an FHA loan demands a lower down payment is one of its main benefits. Less than a 3.5% down payment is required for financing a home with an FHA loan. A lot of first-time home buyers use FHA loans. However, it should be noted that those applying for an FHA loan must pay a mortgage insurance premium (MIP). When a borrower defaults, this insurance shields the lender.

VA Mortgages

Veterans, active duty personnel, and their surviving spouses may apply for VA home loans. They are provided by private lenders like banks and mortgage companies, and the Department of Veterans Affairs (VA) ensures repayment (VA). Lenders are able to provide borrowers with better terms, like lower interest rates and no down payment needs, thanks to this assurance.

Although a VA mortgage is a particular type of home loan, getting one is similar to getting any other form of mortgage. To get pre-approved, you’ll engage with a qualified lender. After getting pre-approved, you can start looking at houses, put in an offer, go through the appraisal and underwriting procedures, and then close the deal.

Loans Guaranteed by the USDA

A mortgage that is insured by the US Department of Agriculture is known as a USDA-guaranteed loan (USDA). These loans are meant to assist low-income rural residents in achieving their dream of home ownership. No down payment is required for those who qualify because the USDA provides a 90% loan note guarantee to authorized lenders, reducing the risk of granting 100% loans to qualified rural households.

As part of the USDA Rural Development program, which aims to promote home ownership in rural areas, the USDA makes or guarantees these loans.

To be eligible for a loan that is guaranteed by the USDA, borrowers must make no more than 115% of the area’s median income. To be eligible for financing, the subject property must also be situated inside the USDA-eligible region map.

Loans for home renovation

Repairs, renovations, extensions, and upgrades are financed with a home renovation loan. These loans could be personal loans or mortgages with built-in rehabilitation money. Many home improvement projects, such as remodeling a kitchen or bathroom, finishing a basement, or adding a second storey to a house, can be financed with a home renovation loan. The type of loan and its terms will be determined by the borrower’s requirements and creditworthiness. For instance, there are various terms and fixed or variable interest rates for loans for renovations.

Loans for home improvements come in a variety of forms. The FHA 203(k) loan is the one that is most widely used. There are also the HomeStyle Renovation Loan from Fannie Mae and the Choice Renovation Loan program from Freddie Mac.

Mortgage Loans That Are Not Qualified

A non-qualified mortgage (non-QM), as defined by the Consumer Financial Protection Bureau’s (CFPB) Qualified Mortgage rule, is a specific category of house loan that does not meet the standard documentation requirements. Non-QM loans may therefore have different features, such as longer loan terms, negative amortization, and softer eligibility standards.

House buyers who don’t match the strict conditions of a qualifying mortgage are expected to benefit from non-QM loans. A non-QM loan might be a better option for you if you are self-employed or do not have a traditional source of income because you might not be able to qualify for a qualifying mortgage. Non-QM loans make it possible for borrowers to get a house loan even if they wouldn’t normally be eligible for one. If your credit score is low, your debt-to-income ratio is high, or your income fluctuates significantly enough that a conventional mortgage is not an option for you, a non-QM loan might be appropriate.

Application for Alaska Home Purchase Loan

There are various options available to you if you wish to apply for a house purchase loan in the state of Alaska. An Alaska-based direct mortgage lender is called Capital Home Mortgage Juneau. We are dedicated to provide outstanding customer service and are eager to help you. In order to speak with one of our loan professionals, please dial (907) 531-5048.

Why Juneau 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

Juneau 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

Juneau Home Purchase Loans

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

Juneau fixed rate Mortgage Loans

All Fixed Rate Mortgage Loans are designed to have equal payments for the specified term. These loans offer predictability and are deemed to be less risky for borrowers. Fixed Rate Mortgage Loans are available with all mortgage products and are typically offered in 15 year and 30 year terms. However, Fixed Rate Mortgage Loans are also offer in 10 year, 20 year and 25 year terms although less common due to demand.

Juneau Adjustable Rate Mortgage Loans

Adjustable Rate Mortgage Loans known as ARM’s are  available with most mortgage products although limited with FHA, VA and USDA. ARM’s are great fit for homebuyers who plan to sell or refinance their home between 1 and 10 years and are looking for the lowest possible payment.  ARM’s offers lower rates during times where fixed rates are higher. An adjustable rate mortgage is fixed for a specific time then adjusts on a predetermined time period and a predetermined amount based on a financial index and a fixed margin.

Juneau Mortgage Programs

Juneau Home Purchase

Thinking of Buying a Juneau 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

Juneau renovation home loans

Looking to Rehab a Juneau 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

Juneau FHA Home Loans

Great for 1st Time Juneau 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

Juneau VA Home Loans

100% Financing for Juneau 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

Juneau Conventional Home Loans

Flexibility for Juneau 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

Juneau Jumbo Home Loans

Juneau 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

Juneau USDA Home Loans

100% Rural Juneau 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

Juneau Native American Home Loans

Juneau 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

Juneau Manufactured Home Loans

Great Alternative Juneau Housing

Juneau reverse mortgages

Your Juneau 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

Juneau Non QM Home Loans

Making Juneau 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

Juneau One Time Close mortgages

Build Your Juneau 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

Juneau Refinance Mortgage Loans

Juneau 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

Juneau Cash-out Home mortgages

Juneau 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

Juneau 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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