First National Bank Alaska Mortgage Rates, Fees & Info

Anchorage, AK

LEI: 25490089V5DJHFQMOA03

Tax ID: 92-0006595

5 stars - Updated: 6/16/24 - out of 5 stars, based on 14 reviews

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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Mortgage Data

Review & Overview

First National Bank Alaska is a smaller bank specializing in Home Purchase and Refi loans. First National Bank Alaska has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) Their top markets by origination volume include: Anchorage, Fairbanks, Juneau, and Ketchikan among others. We have data for 5 markets. (Some data included below & more in-depth data is available with an active subscription.)

First National Bank Alaska has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. First National Bank Alaska is typically an average fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have relatively high rates.

We show data for every lender and do not change our ratings-- even if an organization is a paid advertiser. Our consensus data does have lag, but it is highly correlated to a lender's rates & fees relative to their markets. This means that if a bank is a low fee/rate lender the past-- chances are they are still one today. Our SimulatedRates™ use advanced statistical techniques to forecast different rates based on a lender's historical data.

Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.

SimulatedRates™

Mortgage Type
Simulated Rate Simulation Date
30 Year Conventional Purchase 6.26% 6/16/24
30 Year Conventional Refi 6.35% 6/16/24
30 Year Cash-out Refi 7.10% 6/16/24
30 Year FHA Purchase 6.68% 6/16/24
30 Year FHA Refi 6.27% 6/16/24
30 Year VA Purchase 5.96% 6/16/24
30 Year VA Refi 6.27% 6/16/24
30 Year USDA Purchase 6.60% 6/16/24
15 Year Conventional Purchase 6.38% 6/16/24
15 Year Conventional Refi 6.33% 6/16/24
15 Year Cash-out Refi 6.33% 6/16/24
These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates.

First National Bank Alaska Mortgage Calculator






Your Estimates

Estimated Loan Payment: Update the calculator values and click calculate payment!

This is not an official calculator from First National Bank Alaska. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

The default purchase price is the median sales price across the US for 2022Q4, per FRED.


Originations

189

Origination Dollar Volume (All Markets)

$80,065,000

Awards

First National Bank Alaska 30 Year Conventional Loans silver
Show all (1) awards

Relative Rate

First National Bank Alaska's average 30 year fixed mortgage rate was 6.37%.

The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

This yields a difference of -0.11%.

Relative Fees (Closing Costs)

First National Bank Alaska's average total fees/closing costs for a 30 year fixed rate mortgage were $7,941.

The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including both points & up-front fees in addition to origination fees) were $9,089.

Top Markets

Zoom/scroll map to see bank's per metro statistics. Subscribers can configure state/metro/county granularity, assorted fields and quantity of results. This map shows top 10 markets in the map viewport, as defined by descending origination volume.

Market Originations Total Value Average Loan Average Fees Average Rate
ANCHORAGE, AK (FHA|USDA|VA) 107 $56,365,000 $526,776 $7,607 6.51%
Outside of Metro Areas 69 $19,815,000 $287,174 $8,040 6.69%
FAIRBANKS, AK (FHA|USDA|VA) 8 $1,970,000 $246,250 $6,298 6.22%
Juneau, AK (FHA|USDA|VA) 4 $1,590,000 $397,500 $11,693 7.28%
Ketchikan, AK (FHA|USDA|VA) 1 $325,000 $325,000 $0 8.00%
First National Bank Alaska's top markets include Anchorage, Fairbanks, Juneau, and Ketchikan among others.

Their top states include:
  • Alaska (FHA|USDA|VA)
  • Similar Lenders

    We use machine learning to identify the top lenders compared against First National Bank Alaska based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    TRUE NORTH FEDERAL CREDIT UNION
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    GUARANTY MORTGAGE SERVICE, INC.
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    First National Bank Alaska
    Similarity Rank: 100
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    Similarity Rank: 782
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    North American Savings Bank, F.S.B.
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    Alaska USA Federal Credit Union
    Similarity Rank: 6655

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 173 $73,685,000 $425,925 $7,406 6.63%
    VA 10 $4,650,000 $465,000 $11,545 5.94%
    FHA 6 $1,730,000 $288,333 $10,839 6.38%

    For 2023, First National Bank Alaska's most frequently originated type of loan was Conventional, with 173 originations. Their 2nd most popular type was VA, with 10 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 144 $51,470,000 $357,431 $7,911 6.46%
    Cash Out Refi 17 $4,135,000 $243,235 $7,569 6.81%
    Refi 13 $21,545,000 $1,657,308 $5,512 7.18%
    Home Improvement 12 $2,150,000 $179,167 $7,749 7.06%
    Other 3 $765,000 $255,000 $6,070 7.00%

    For 2023, First National Bank Alaska's most frequently cited loan purpose was Home Purchase, with 144 originations. The 2nd most popular reason was Cash Out Refi, with 17 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 146 $50,300,000 $344,521 $7,941 6.37%
    15 Year 20 $3,450,000 $172,500 $6,645 6.45%
    20 Year 17 $6,425,000 $377,941 $6,597 7.99%
    10 Year 2 $1,370,000 $685,000 $4,277 8.06%
    5 Year 2 $17,830,000 $8,915,000 $0 7.34%
    1 Year 1 $235,000 $235,000 $0 10.00%
    Other 1 $455,000 $455,000 $0 8.50%

    For 2023, First National Bank Alaska's most frequently cited loan duration was 30 Year, with 146 originations. The 2nd most popular length was 15 Year, with 20 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $5k+ 59 $25,325,000 $429,237
    $3k-4k 41 $10,555,000 $257,439
    $4k-5k 33 $10,515,000 $318,636
    $2k-3k 22 $3,630,000 $165,000
    $1k-2k 8 $1,040,000 $130,000
    $<1k 3 $835,000 $278,333

    First National Bank Alaska's average total fees were $7,941, while their most frequently occuring range of origination fees (closing costs) were in the $5k+ bucket, with 59 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 95 $47,645,000 $501,526
    5-6% 48 $16,000,000 $333,333
    7-8% 26 $9,010,000 $346,538
    Over 8% 16 $6,630,000 $414,375
    3-4% 2 $620,000 $310,000
    4-5% 2 $160,000 $80,000

    During 2023, First National Bank Alaska's average interest rate for loans was 6.37%, while their most frequently originated rate bucket for loans was 6-7%, with 95 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 101 $29,535,000 $292,426 $7,300 6.63%
    $100k-200k 32 $4,790,000 $149,688 $5,324 6.48%
    $400k-600k 31 $15,195,000 $490,161 $10,633 6.46%
    $600k-1MM 11 $7,435,000 $675,909 $14,119 6.44%
    $100,000 or less 10 $660,000 $66,000 $3,788 6.68%
    $1MM+ 4 $22,450,000 $5,612,500 $0 7.51%

    2023 saw First National Bank Alaska place emphasis on $200k-400k loans with 101 originations, totaling $29,535,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 54 $18,030,000 $333,889 $8,073 6.32%
    $75k-100k 35 $9,935,000 $283,857 $7,225 6.39%
    $150k-250k 27 $11,145,000 $412,778 $9,745 6.50%
    $50k-75k 25 $5,155,000 $206,200 $5,631 6.39%
    $250k+ 19 $7,395,000 $389,211 $11,017 7.22%
    $50k or less 11 $1,305,000 $118,636 $4,700 6.41%

    First National Bank Alaska lent most frequently to those with incomes in the $100k-150k range, with 54 originations. The second most popular income band? $75k-100k, with 35 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 37 $11,425,000 $308,784 $7,784 6.45%
    20-30% 27 $7,475,000 $276,852 $7,066 6.25%
    47% 11 $3,445,000 $313,182 $7,744 6.44%
    42% 11 $3,285,000 $298,636 $8,543 6.48%
    41% 10 $2,860,000 $286,000 $8,004 6.54%
    40% 10 $3,210,000 $321,000 $7,440 6.59%
    43% 9 $2,375,000 $263,889 $6,306 6.29%
    <20% 8 $2,510,000 $313,750 $8,901 6.30%
    39% 8 $2,420,000 $302,500 $6,798 6.20%
    48% 7 $2,795,000 $399,286 $8,343 6.89%
    36% 7 $1,985,000 $283,571 $6,975 6.61%
    46% 6 $2,100,000 $350,000 $8,724 6.69%
    49% 6 $2,770,000 $461,667 $11,879 6.33%
    38% 5 $1,215,000 $243,000 $7,185 6.00%
    45% 4 $1,080,000 $270,000 $4,368 6.56%
    44% 3 $685,000 $228,333 $5,885 6.63%
    37% 3 $1,455,000 $485,000 $14,399 6.75%
    >60% 3 $875,000 $291,667 $0 8.25%
    50-60% 1 $255,000 $255,000 $0 8.63%

    First National Bank Alaska lent most frequently to those with DTI ratios of 30-36%, with 37 originations. The next most common DTI ratio? 20-30%, with 27 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 107 $31,905,000 $298,178 $7,678 6.50%
    Not applicable 10 $25,090,000 $2,509,000 $0 8.09%
    Not provided 50 $15,820,000 $316,400 $7,990 6.53%
    American Indian 12 $3,890,000 $324,167 $7,354 6.34%
    Black 5 $1,665,000 $333,000 $8,897 6.23%
    Asian 4 $1,420,000 $355,000 $7,795 6.84%
    Japanese 1 $275,000 $275,000 $3,997 7.13%

    Approval Rates

    Total approvals of all applications
    94.86%

    First National Bank Alaska has an average approval rate.

    Pick Rate

    Approvals leading to origination
    29.63%

    First National Bank Alaska has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 189 $80,065,000 $423,624

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    189 $80,065,000 $423,624

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 22 $23,310,000 $1,059,545 $5,879 6.58%
    40-60% 34 $11,620,000 $341,765 $7,412 6.69%
    60-80% 61 $21,465,000 $351,885 $8,761 6.85%
    80-100% 65 $22,525,000 $346,538 $7,574 6.27%
    Over 100% 2 $730,000 $365,000 $16,219 5.87%
    Under 20% 5 $415,000 $83,000 $4,849 7.02%