Anchorage FHA Loan Rates, Closing Costs & Stats

ANCHORAGE, AK

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    • FHA loans are mortgages created in the 1930's to help insulate lenders from credit risks and help promote home ownership. The Federal Housing Administration (hence, FHA) allows for lower downpayments and credit scores-- making these loans much more accessible than traditional mortgages.

    FHA loans typically need just a 3.5% downpayment with credit scores of 580 or better. For credit scores between 500-579, the downpayment needs to be at least 10%.

    While FHA loans make home ownership much more accessible to first-time homebuyers, they do require PMI (purchase money insurance)-- an additional insurance premium that is paid to the FHA to help cover defaults.

    For additional requirements as defined by the FHA, click here.

    Anchorage's 60 lenders originated 820 FHA loans during 2023. The total origination value was $270,900,000, with an average FHA loan value of $330,366.

    Anchorage FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Anchorage averaged 6.53% for the week of 2024-04-19, compared to the national average (all FHA variants) of 6.855% for the same period.

    Anchorage's average FHA mortgage closing costs are $8,767.

    The average rate for the prior week (2024-04-12) was 6.72% and one month ago for the week of 2024-03-15, the average rate was 6.59%.

    The average rate one year ago was 5.92%.

    For refis of the same type during the week of 2024-04-19, the average rate was 6.89%.

    Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations.

    Anchorage FHA Loan Lenders by Rates & Fees

    The below table looks at the average fees/closing costs and rates for FHA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Anchorage level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    NEWREZ LLC 113 6.29% $11,919
    UNITED WHOLESALE MORTGAGE, LLC 78 6.39% $13,732
    Alaska USA Federal Credit Union 75 6.56% $10,162
    RESIDENTIAL MORTGAGE, LLC 64 6.48% $10,305
    MOVEMENT MORTGAGE, LLC 44 6.41% $12,451
    QUICKEN LOANS, LLC 43 6.17% $13,689
    GUILD MORTGAGE COMPANY 26 6.48% $13,638
    PRIMELENDING, A PLAINSCAPITAL COMPANY 20 6.50% $15,993
    LOANDEPOT.COM, LLC 19 6.43% $14,122
    GUARANTEED RATE, INC. 19 6.81% $12,951
    SUN WEST MORTGAGE COMPANY, INC. 18 5.97% $19,309
    HOMEOWNERS FINANCIAL GROUP USA, LLC 15 6.39% $14,348
    PRIMARY RESIDENTIAL MORTGAGE, INC. 14 6.67% $12,428
    GENEVA FINANCIAL, LLC 13 6.75% $15,738
    ACADEMY MORTGAGE CORPORATION 12 6.80% $11,324
    Paramount Residential Mortgage Group, Inc. 12 7.24% $15,014
    NuVision Federal Credit Union 10 6.03% $7,272
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 10 6.21% $9,608
    Plains Commerce Bank 9 6.89% $11,225
    BROKER SOLUTIONS, INC. 8 6.81% $12,832
    RESIDENTIAL BANCORP 7 6.77% $13,215
    CHURCHILL MORTGAGE CORPORATION 6 6.13% $15,672
    Chickasaw Community Bank 5 6.75% $6,765
    Mortgage Research Center, LLC 5 6.65% $8,516
    North American Savings Bank, F.S.B. 5 6.10% $9,301
    MUTUAL OF OMAHA MORTGAGE, INC. 5 6.40% $16,696
    ZILLOW HOME LOANS, LLC 4 6.91% $10,810
    AMERISAVE MORTGAGE CORPORATION 4 6.31% $18,502
    CARDINAL FINANCIAL 4 6.81% $12,343
    Century Mortgage Company DBA Century Lending Company 4 6.19% $12,068
    PENNYMAC LOAN SERVICES, LLC 4 6.78% $13,897
    VAN DYK MORTGAGE CORPORATION 4 7.09% $7,358
    LAKEVIEW LOAN SERVICING, LLC 3 6.29% $11,191
    NBKC BANK 3 5.58% $12,605
    Flagstar Bank, FSB 3 6.42% $8,409
    First National Bank Alaska 3 6.08% $10,132
    Equity Prime Mortgage LLC 3 6.29% $12,352
    Prosperity Home Mortgage, LLC 3 5.83% $14,482
    CALIBER HOME LOANS, INC. 3 6.17% $10,375
    ON Q FINANCIAL, INC. 2 7.50% $12,632
    AMERICAN FINANCING CORPORATION 2 6.81% $17,390
    PLAZA HOME MORTGAGE, INC. 2 7.13% $16,130
    CMG MORTGAGE, INC. 2 6.50% $13,648
    Mr. Cooper ( Nationstar Mortgage ) 2 6.50% $18,213
    The Federal Savings Bank 2 6.00% $22,510
    UNION HOME MORTGAGE CORP. 2 7.13% $15,992
    MID AMERICA MORTGAGE, INC. 1 6.75% $4,608
    KeyBank 1 6.88% $11,976
    Carrington Mortgage Services, LLC 1 6.63% $12,485
    HomeStreet Bank 1 6.63% $13,524
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 1 7.50% $7,057
    SWBC MORTGAGE CORPORATION 1 7.25% $5,115
    Northpointe Bank 1 6.75% $12,390
    The Loan Store, Inc. 1 7.49% $10,485
    FREEDOM MORTGAGE CORPORATION 1 6.25% $17,400
    Wells Fargo Bank 1 6.63% $5,573
    HOMEBRIDGE FINANCIAL SERVICES, INC. 1 6.00% $24,839
    NEW DAY FINANCIAL, LLC 1 7.99% $7,547
    AMERICAN FINANCIAL NETWORK, INC. 1 7.63% $13,157
    Waterstone Mortgage Corporation 1 6.63% $9,769

    The top Anchorage FHA lender as defined by loan originations is NEWREZ LLC, with 113 FHA loans originated. Their average total fees are $11,919, which is $1,813 lower than the next largest lender, UNITED WHOLESALE MORTGAGE, LLC.

    The lowest fee Anchorage FHA lenders (with over 10 loans originated) are NuVision Federal Credit Union ($7,272), FAIRWAY INDEPENDENT MORTGAGE CORPORATION ($9,608), Alaska USA Federal Credit Union ($10,162), RESIDENTIAL MORTGAGE, LLC ($10,305) and ACADEMY MORTGAGE CORPORATION ($11,324).

    The lowest rate Anchorage FHA lenders (with over 10 loans originated) are SUN WEST MORTGAGE COMPANY, INC. (5.97%), NuVision Federal Credit Union (6.03%), QUICKEN LOANS, LLC (6.17%), FAIRWAY INDEPENDENT MORTGAGE CORPORATION (6.21%) and NEWREZ LLC (6.29%).

    Anchorage FHA Loan Limits

    Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
    ANCHORAGE, AK ANCHORAGE MUNIC 2022 $450,800 $577,100 $697,600 $866,950
    ANCHORAGE, AK MATANUSKA-SUSIT 2022 $450,800 $577,100 $697,600 $866,950
    ANCHORAGE, AK ANCHORAGE MUNIC 2023 $472,030 $604,400 $730,525 $907,900
    ANCHORAGE, AK MATANUSKA-SUSIT 2023 $472,030 $604,400 $730,525 $907,900

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Anchorage (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Price (YoY Change) Average Listing Price (YoY) MSA/US Median Price Ratio Active Listings
    2018-01-01 $288,500 (-3.0%) $332,753 (-2.9%) 1.07 1,508
    2018-02-01 $289,500 (-2.2%) $335,413 (-1.8%) 1.05 1,517
    2018-03-01 $299,000 (-0.2%) $341,951 (-2.3%) 1.05 1,667
    2018-04-01 $309,900 (0.0%) $348,350 (-0.4%) 1.05 1,753
    2018-05-01 $314,998 (2.6%) $348,042 (1.0%) 1.05 1,927
    2018-06-01 $309,900 (0.3%) $340,410 (-1.0%) 1.03 2,168
    2018-07-01 $303,675 (-0.8%) $337,972 (-1.7%) 1.01 2,339
    2018-08-01 $304,950 (0.8%) $340,913 (0.5%) 1.02 2,371
    2018-09-01 $307,000 (3.3%) $339,410 (1.2%) 1.03 2,263
    2018-10-01 $299,900 (1.2%) $335,023 (-0.1%) 1.02 2,056
    2018-11-01 $299,950 (3.8%) $335,474 (1.0%) 1.02 1,874
    2018-12-01 $299,900 (5.1%) $333,251 (0.6%) 1.03 1,662
    2019-01-01 $299,950 (4.0%) $330,863 (-0.6%) 1.04 1,449
    2019-02-01 $307,350 (6.2%) $335,554 (0.0%) 1.04 1,504
    2019-03-01 $317,100 (6.1%) $343,442 (0.4%) 1.04 1,558
    2019-04-01 $322,450 (4.1%) $349,666 (0.4%) 1.02 1,633
    2019-05-01 $324,950 (3.2%) $353,521 (1.6%) 1.02 1,784
    2019-06-01 $320,000 (3.3%) $352,669 (3.6%) 1.00 1,961
    2019-07-01 $319,500 (5.2%) $351,339 (4.0%) 1.00 2,068
    2019-08-01 $315,727 (3.5%) $348,201 (2.1%) 1.00 2,044
    2019-09-01 $316,443 (3.1%) $348,627 (2.7%) 1.01 1,973
    2019-10-01 $318,000 (6.0%) $349,748 (4.4%) 1.03 1,900
    2019-11-01 $317,500 (5.9%) $350,912 (4.6%) 1.04 1,694
    2019-12-01 $311,500 (3.9%) $345,421 (3.7%) 1.04 1,518
    2020-01-01 $311,625 (3.9%) $348,195 (5.2%) 1.04 1,329
    2020-02-01 $319,000 (3.8%) $355,383 (5.9%) 1.04 1,252
    2020-03-01 $319,450 (0.7%) $357,255 (4.0%) 1.00 1,231
    2020-04-01 $319,500 (-0.9%) $355,402 (1.6%) 1.00 1,296
    2020-05-01 $329,900 (1.5%) $365,350 (3.4%) 1.00 1,410
    2020-06-01 $330,000 (3.1%) $373,587 (5.9%) 0.97 1,417
    2020-07-01 $337,300 (5.6%) $385,328 (9.7%) 0.98 1,356
    2020-08-01 $334,900 (6.1%) $386,839 (11.1%) 0.96 1,342
    2020-09-01 $335,000 (5.9%) $394,725 (13.2%) 0.96 1,296
    2020-10-01 $325,000 (2.2%) $396,163 (13.3%) 0.93 1,175
    2020-11-01 $326,450 (2.8%) $400,837 (14.2%) 0.95 1,028
    2020-12-01 $328,450 (5.4%) $404,090 (17.0%) 0.98 888
    2021-01-01 $327,000 (4.9%) $407,822 (17.1%) 0.98 755
    2021-02-01 $339,500 (6.4%) $415,237 (16.8%) 0.99 694
    2021-03-01 $357,450 (11.9%) $432,450 (21.1%) 1.01 678
    2021-04-01 $359,950 (12.7%) $432,426 (21.7%) 0.97 720
    2021-05-01 $362,500 (9.9%) $422,253 (15.6%) 0.96 761
    2021-06-01 $350,000 (6.1%) $411,228 (10.1%) 0.92 870
    2021-07-01 $350,000 (3.8%) $405,086 (5.1%) 0.92 995
    2021-08-01 $357,200 (6.7%) $412,048 (6.5%) 0.95 1,050
    2021-09-01 $356,875 (6.5%) $422,623 (7.1%) 0.95 1,023
    2021-10-01 $350,000 (7.7%) $417,721 (5.4%) 0.93 907
    2021-11-01 $361,450 (10.7%) $425,708 (6.2%) 0.97 707
    2021-12-01 $374,500 (14.0%) $433,415 (7.3%) 1.01 565
    2022-01-01 $389,250 (19.0%) $437,467 (7.3%) 1.05 432
    2022-02-01 $400,750 (18.0%) $447,649 (7.8%) 1.04 369
    2022-03-01 $420,500 (17.6%) $471,539 (9.0%) 1.05 382
    2022-04-01 $425,000 (18.1%) $468,448 (8.3%) 1.01 493
    2022-05-01 $429,950 (18.6%) $476,028 (12.7%) 0.98 669
    2022-06-01 $434,975 (24.3%) $478,249 (16.3%) 0.97 849
    2022-07-01 $425,000 (21.4%) $474,313 (17.1%) 0.96 1,000
    2022-08-01 $429,900 (20.4%) $482,135 (17.0%) 0.99 967
    2022-09-01 $439,900 (23.3%) $491,848 (16.4%) 1.03 850
    2022-10-01 $432,450 (23.6%) $487,535 (16.7%) 1.02 782
    2022-11-01 $428,660 (18.6%) $479,352 (12.6%) 1.03 726
    2022-12-01 $439,000 (17.2%) $480,656 (10.9%) 1.08 605
    2023-01-01 $426,625 (9.6%) $474,923 (8.6%) 1.06 499
    2023-02-01 $435,625 (8.7%) $487,799 (9.0%) 1.05 456
    2023-03-01 $439,000 (4.4%) $490,135 (3.9%) 1.04 461
    2023-04-01 $445,000 (4.7%) $497,401 (6.2%) 1.03 467
    2023-05-01 $446,700 (3.9%) $496,934 (4.4%) 1.01 496
    2023-06-01 $442,350 (1.7%) $500,046 (4.6%) 0.99 585
    2023-07-01 $439,000 (3.3%) $498,860 (5.2%) 1.00 752
    2023-08-01 $434,500 (1.1%) $493,062 (2.3%) 1.00 814
    2023-09-01 $439,900 (0.0%) $509,606 (3.6%) 1.02 803
    2023-10-01 $434,500 (0.5%) $496,472 (1.8%) 1.02 761
    2023-11-01 $427,000 (-0.4%) $491,658 (2.6%) 1.02 716
    2023-12-01 $425,000 (-3.2%) $493,515 (2.7%) 1.04 618
    2024-01-01 $429,500 (0.7%) $501,829 (5.7%) 1.05 520
    2024-02-01 $437,000 (0.3%) $506,567 (3.9%) 1.05 486
    2024-03-01 $435,000 (-0.9%) $504,121 (2.9%) 1.02 488
    Anchorage's median listing price for 2024-03-01 was $435,000, a difference of $-4,000 (-0.9%) versus the prior year and $-2,000 versus the prior month.

    Anchorage's median listing price comes in at 102% of the national average.

    Anchorage's average listing price for 2024-03-01 was $504,121, a difference of $13,986 (2.9%) versus the prior year and $-2,446 versus the prior month.

    For the 2024-03-01 period, Anchorage had 488 MLS listings, a difference of 2 listings (0%) versus the prior month and 27 listings (6%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Anchorage (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 89 days 1,717 sqft
    2018-02-01 73 days 1,729 sqft
    2018-03-01 53 days 1,768 sqft
    2018-04-01 50 days 1,800 sqft
    2018-05-01 47 days 1,823 sqft
    2018-06-01 47 days 1,816 sqft
    2018-07-01 52 days 1,805 sqft
    2018-08-01 58 days 1,805 sqft
    2018-09-01 67 days 1,800 sqft
    2018-10-01 77 days 1,779 sqft
    2018-11-01 84 days 1,788 sqft
    2018-12-01 93 days 1,770 sqft
    2019-01-01 96 days 1,777 sqft
    2019-02-01 83 days 1,782 sqft
    2019-03-01 59 days 1,809 sqft
    2019-04-01 49 days 1,841 sqft
    2019-05-01 46 days 1,842 sqft
    2019-06-01 50 days 1,852 sqft
    2019-07-01 55 days 1,862 sqft
    2019-08-01 59 days 1,837 sqft
    2019-09-01 65 days 1,830 sqft
    2019-10-01 69 days 1,824 sqft
    2019-11-01 79 days 1,800 sqft
    2019-12-01 88 days 1,754 sqft
    2020-01-01 86 days 1,747 sqft
    2020-02-01 68 days 1,777 sqft
    2020-03-01 51 days 1,793 sqft
    2020-04-01 53 days 1,803 sqft
    2020-05-01 51 days 1,832 sqft
    2020-06-01 43 days 1,835 sqft
    2020-07-01 43 days 1,833 sqft
    2020-08-01 43 days 1,793 sqft
    2020-09-01 45 days 1,800 sqft
    2020-10-01 53 days 1,745 sqft
    2020-11-01 63 days 1,705 sqft
    2020-12-01 71 days 1,704 sqft
    2021-01-01 68 days 1,698 sqft
    2021-02-01 42 days 1,707 sqft
    2021-03-01 36 days 1,769 sqft
    2021-04-01 28 days 1,788 sqft
    2021-05-01 23 days 1,799 sqft
    2021-06-01 24 days 1,793 sqft
    2021-07-01 27 days 1,800 sqft
    2021-08-01 32 days 1,799 sqft
    2021-09-01 41 days 1,794 sqft
    2021-10-01 44 days 1,743 sqft
    2021-11-01 53 days 1,745 sqft
    2021-12-01 65 days 1,728 sqft
    2022-01-01 78 days 1,750 sqft
    2022-02-01 33 days 1,794 sqft
    2022-03-01 15 days 1,809 sqft
    2022-04-01 15 days 1,818 sqft
    2022-05-01 18 days 1,869 sqft
    2022-06-01 23 days 1,898 sqft
    2022-07-01 29 days 1,904 sqft
    2022-08-01 43 days 1,927 sqft
    2022-09-01 52 days 1,951 sqft
    2022-10-01 57 days 1,924 sqft
    2022-11-01 61 days 1,904 sqft
    2022-12-01 78 days 1,904 sqft
    2023-01-01 81 days 1,844 sqft
    2023-02-01 43 days 1,849 sqft
    2023-03-01 38 days 1,888 sqft
    2023-04-01 30 days 1,903 sqft
    2023-05-01 29 days 1,897 sqft
    2023-06-01 25 days 1,872 sqft
    2023-07-01 27 days 1,879 sqft
    2023-08-01 37 days 1,895 sqft
    2023-09-01 58 days 1,920 sqft
    2023-10-01 57 days 1,873 sqft
    2023-11-01 63 days 1,810 sqft
    2023-12-01 74 days 1,800 sqft
    2024-01-01 83 days 1,808 sqft
    2024-02-01 58 days 1,818 sqft
    2024-03-01 48 days 1,816 sqft
    Anchorage's median listing age (time on market) for 2024-03-01 was 48 days. This is 25% longer than the same period one year ago.

    Anchorage's median square footage for active listings during the 2024-03-01 period was 1,816 sqft. One year prior, the average listing was 1,888 sqft.

    FHA Loan Requirements

  • Borrowers must have a steady employment history or worked for the same employer for the past two years.
  • Borrowers must have a valid Social Security number, lawful residency in the U.S. and be of legal age to sign a mortgage in your state.
  • Borrowers must pay a minimum down payment of 3.5 percent. The money may be gifted by a family member. (Traditional mortgages do not permit gifted down payments)
  • New FHA loans are only available for primary residence occupancy.
  • Borrowers must have a property appraisal from a FHA-approved appraiser.
  • Borrowers’ front-end ratio (mortgage payment plus HOA fees, property taxes, mortgage insurance, homeowners insurance) needs to be less than 31 percent of their gross income, typically. You may be able to get approved with as high a percentage as 40 percent. Your lender will be required to provide justification as to why they believe the mortgage presents an acceptable risk. The lender must include any compensating factors used for loan approval.
  • Borrowers’ debt to income ratio (mortgage plus all your monthly debt, i.e., credit card payment, car payment, student loans, etc.) needs to be less than 43 percent of their gross income, typically. You may be able to get approved with as high a percentage as 50 percent.
  • Borrowers must have a minimum credit score of 580 for maximum financing with a minimum down payment of 3.5 percent.
  • Borrowers must have a minimum credit score of 500-579 for maximum LTV of 90 percent with a minimum down payment of 10 percent.
  • Bborrowers must be two years out of bankruptcy and have re-established good credit. Exceptions can be made.
  • Typically borrowers must be three years out of foreclosure and have re-established good credit.
  • The purchased property must meet certain minimum standards at appraisal. If the home you are purchasing does not meet these standards and a seller will not agree to the required repairs, your only option is to pay for the required repairs at closing (to be held in escrow until the repairs are complete).