Alaska FHA Loan Rates, Closing Costs & Stats

Alaska

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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.

    Alaska FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Alaska averaged 6.41% for the week of 2025-04-04, compared to the national average (all FHA variants) of 6.259% for the same period.

    Alaska's average FHA mortgage closing costs are $9,102.

    The average rate for the prior week (2025-03-28) was 6.3% and one month ago for the week of 2025-02-28, the average rate was 6.39%.

    The average rate one year ago was 6.31%.

    For refis of the same type during the week of 2025-04-04, the average rate was 6%.

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

    Alaska 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 Alaska level.

    Name # of Loans 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
    Alaska USA Federal Credit Union 166 6.26% $9,793
    NEWREZ LLC 137 6.37% $11,327
    RESIDENTIAL MORTGAGE, LLC 134 6.10% $10,821
    QUICKEN LOANS, LLC 78 6.34% $13,952
    UNITED WHOLESALE MORTGAGE, LLC 72 6.13% $14,953
    MOVEMENT MORTGAGE, LLC 40 6.24% $12,793
    LOANDEPOT.COM, LLC 36 6.36% $14,675
    PRIMELENDING, A PLAINSCAPITAL COMPANY 28 6.18% $13,751
    The Loan Store, Inc. 28 6.29% $11,972
    GUILD MORTGAGE COMPANY 27 6.23% $12,804
    GUARANTEED RATE, INC. 27 6.55% $12,123
    CORNERSTONE HOME LENDING, INC. 26 6.40% $14,478
    PENNYMAC LOAN SERVICES, LLC 26 6.00% $11,289
    GENEVA FINANCIAL, LLC 25 6.66% $18,064
    CANOPY MORTGAGE, LLC 19 6.31% $14,511
    PRIMARY RESIDENTIAL MORTGAGE, INC. 17 6.28% $4,635
    FREEDOM MORTGAGE CORPORATION 16 6.12% $17,881
    Plains Commerce Bank 15 6.67% $13,102
    NuVision Federal Credit Union 13 6.01% $11,173
    BROKER SOLUTIONS, INC. 13 6.96% $13,316
    Flagstar Bank, FSB 13 6.25% $12,081
    CROSSCOUNTRY MORTGAGE, LLC 12 6.50% $11,356
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 11 6.44% $12,805
    MUTUAL OF OMAHA MORTGAGE, INC. 10 6.40% $20,098
    MID AMERICA MORTGAGE, INC. 10 6.63% $5,079
    CHURCHILL MORTGAGE CORPORATION 9 6.54% $14,633
    PLAZA HOME MORTGAGE, INC. 9 6.18% $14,140
    Century Mortgage Company DBA Century Lending Company 8 6.33% $15,108
    Mortgage Research Center, LLC 8 6.45% $8,092
    CMG MORTGAGE, INC. 8 6.27% $14,042
    LAKEVIEW LOAN SERVICING, LLC 8 6.20% $10,235
    AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 7 6.27% $11,155
    AMERICAN FINANCING CORPORATION 6 5.31% $18,012
    HOMEOWNERS FINANCIAL GROUP USA, LLC 5 5.93% $13,862
    Prosperity Home Mortgage, LLC 5 6.10% $15,176
    PLANET HOME LENDING, LLC 5 6.07% $10,524
    VILLAGE CAPITAL MORTGAGE 5 6.15% $6,337
    Mr. Cooper ( Nationstar Mortgage ) 4 6.72% $14,298
    RESIDENTIAL BANCORP 4 6.84% $15,453
    NBKC BANK 4 6.28% $10,425
    AMERISAVE MORTGAGE CORPORATION 4 6.03% $19,470
    AmeriHome Mortgage Company, LLC 3 6.54% $9,308
    Wells Fargo Bank 3 6.42% $11,738
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 3 6.25% $14,059
    SUN WEST MORTGAGE COMPANY, INC. 3 6.23% $10,155
    KeyBank 3 6.00% $14,079
    AMERICAN FINANCIAL RESOURCES, INC. 3 6.63% $12,656
    First National Bank Alaska 3 6.33% $11,546
    TRUE NORTH FEDERAL CREDIT UNION 3 6.21% $15,571
    ZILLOW HOME LOANS, LLC 3 6.04% $15,105
    Paramount Residential Mortgage Group, Inc. 2 6.69% $16,240
    Barrington Bank & Trust Company, N.A. 2 6.25% $15,679
    UNION HOME MORTGAGE CORP. 1 6.63% $14,884
    CITY FIRST MORTGAGE SERVICES, L.L.C. 1 6.13% $8,659
    JPMorgan Chase Bank 1 7.75% $10,541
    Chickasaw Community Bank 1 7.00% $5,200
    MORTGAGE SOLUTIONS OF COLORADO, LLC 1 6.75% $37,304
    CARDINAL FINANCIAL 1 6.50% $21,864
    North American Savings Bank, F.S.B. 1 5.50% $10,970
    OCMBC, INC. 1 7.00% $22,593
    Bank of America 1 6.63% $17,302
    PHH Mortgage Corporation 1 5.88% $19,449
    Armed Forces Bank 1 6.50% $8,394
    S1L, Inc. 1 6.25% $15,587
    Sierra Pacific Mortgage Company, Inc. 1 6.50% $11,834
    TRISTAR FINANCE, INC. 1 6.75% $22,772
    VAN DYK MORTGAGE CORPORATION 1 7.13% $11,737

    The top Alaska FHA lender as defined by loan originations is Alaska USA Federal Credit Union, with 166 FHA loans originated. Their average total fees are $9,793, which is $1,533 lower than the next largest lender, NEWREZ LLC.

    The lowest fee Alaska FHA lenders (with over 10 loans originated) are PRIMARY RESIDENTIAL MORTGAGE, INC. ($4,635), MID AMERICA MORTGAGE, INC. ($5,079), Alaska USA Federal Credit Union ($9,793), RESIDENTIAL MORTGAGE, LLC ($10,821) and NuVision Federal Credit Union ($11,173).

    The lowest rate Alaska FHA lenders (with over 10 loans originated) are PENNYMAC LOAN SERVICES, LLC (6.00%), NuVision Federal Credit Union (6.01%), RESIDENTIAL MORTGAGE, LLC (6.10%), FREEDOM MORTGAGE CORPORATION (6.12%) and UNITED WHOLESALE MORTGAGE, LLC (6.13%).

    Alaska FHA Loan Limits

    Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
    NON-METRO ALEUTIANS EAST 2022 $420,680 $538,650 $651,050 $809,150
    NON-METRO ALEUTIANS WEST 2021 $545,100 $697,800 $843,500 $1,048,300
    ANCHORAGE, AK ANCHORAGE MUNIC 2022 $450,800 $577,100 $697,600 $866,950
    NON-METRO BETHEL CENSUS A 2022 $420,680 $538,650 $651,050 $809,150
    NON-METRO BRISTOL BAY BOR 2022 $420,680 $538,650 $651,050 $809,150
    NON-METRO DENALI BOROUGH 2022 $420,680 $538,650 $651,050 $809,150
    NON-METRO DILLINGHAM CENS 2022 $420,680 $538,650 $651,050 $809,150
    FAIRBANKS, AK FAIRBANKS NORTH 2022 $420,680 $538,650 $651,050 $809,150
    NON-METRO HAINES BOROUGH 2022 $420,680 $538,650 $651,050 $809,150
    NON-METRO HOONAH-ANGOON C 2022 $420,680 $538,650 $651,050 $809,150
    JUNEAU, AK JUNEAU CITY AND 2022 $511,750 $655,150 $791,900 $984,150
    NON-METRO KENAI PENINSULA 2022 $420,680 $538,650 $651,050 $809,150
    KETCHIKAN, AK KETCHIKAN GATEW 2022 $420,680 $538,650 $651,050 $809,150
    NON-METRO KODIAK ISLAND B 2022 $453,100 $580,050 $701,150 $871,350
    NON-METRO KUSILVAK CENSUS 2022 $420,680 $538,650 $651,050 $809,150
    NON-METRO LAKE AND PENINS 2022 $420,680 $538,650 $651,050 $809,150
    ANCHORAGE, AK MATANUSKA-SUSIT 2022 $450,800 $577,100 $697,600 $866,950
    NON-METRO NOME CENSUS ARE 2021 $440,450 $563,850 $681,550 $847,000
    NON-METRO NORTH SLOPE BOR 2022 $420,680 $538,650 $651,050 $809,150
    NON-METRO NORTHWEST ARCTI 2022 $420,680 $538,650 $651,050 $809,150
    NON-METRO PETERSBURG CENS 2022 $420,680 $538,650 $651,050 $809,150
    NON-METRO PRINCE OF WALES 2022 $420,680 $538,650 $651,050 $809,150
    NON-METRO SITKA CITY AND 2022 $503,700 $644,800 $779,450 $968,650
    NON-METRO SKAGWAY MUNICIP 2022 $441,600 $565,300 $683,350 $849,250
    NON-METRO SOUTHEAST FAIRB 2022 $420,680 $538,650 $651,050 $809,150
    NON-METRO VALDEZ-CORDOVA 2022 $420,680 $538,650 $651,050 $809,150
    NON-METRO WRANGELL CITY A 2022 $420,680 $538,650 $651,050 $809,150
    NON-METRO YAKUTAT CITY AN 2014 $420,900 $538,800 $651,300 $809,450
    NON-METRO YUKON-KOYUKUK C 2022 $420,680 $538,650 $651,050 $809,150
    NON-METRO ALEUTIANS EAST 2023 $472,030 $604,400 $730,525 $907,900
    NON-METRO ALEUTIANS WEST 2023 $545,100 $697,800 $843,500 $1,048,300
    ANCHORAGE, AK ANCHORAGE MUNIC 2023 $472,030 $604,400 $730,525 $907,900
    NON-METRO BETHEL CENSUS A 2023 $472,030 $604,400 $730,525 $907,900
    NON-METRO BRISTOL BAY BOR 2023 $472,030 $604,400 $730,525 $907,900
    NON-METRO CHUGACH CENSUS 2023 $472,030 $604,400 $730,525 $907,900
    NON-METRO COPPER RIVER CE 2023 $472,030 $604,400 $730,525 $907,900
    NON-METRO DENALI BOROUGH 2023 $472,030 $604,400 $730,525 $907,900
    NON-METRO DILLINGHAM CENS 2023 $472,030 $604,400 $730,525 $907,900
    FAIRBANKS, AK FAIRBANKS NORTH 2023 $472,030 $604,400 $730,525 $907,900
    NON-METRO HAINES BOROUGH 2023 $472,030 $604,400 $730,525 $907,900
    NON-METRO HOONAH-ANGOON C 2023 $524,400 $671,300 $811,450 $1,008,450
    JUNEAU, AK JUNEAU CITY AND 2023 $533,600 $683,100 $825,700 $1,026,150
    NON-METRO KENAI PENINSULA 2023 $472,030 $604,400 $730,525 $907,900
    KETCHIKAN, AK KETCHIKAN GATEW 2023 $485,300 $621,250 $750,950 $933,300
    NON-METRO KODIAK ISLAND B 2023 $485,300 $621,250 $750,950 $933,300
    NON-METRO KUSILVAK CENSUS 2023 $472,030 $604,400 $730,525 $907,900
    NON-METRO LAKE AND PENINS 2023 $472,030 $604,400 $730,525 $907,900
    ANCHORAGE, AK MATANUSKA-SUSIT 2023 $472,030 $604,400 $730,525 $907,900
    NON-METRO NOME CENSUS ARE 2023 $472,030 $604,400 $730,525 $907,900
    NON-METRO NORTH SLOPE BOR 2023 $472,030 $604,400 $730,525 $907,900
    NON-METRO NORTHWEST ARCTI 2023 $472,030 $604,400 $730,525 $907,900
    NON-METRO PETERSBURG CENS 2023 $472,030 $604,400 $730,525 $907,900
    NON-METRO PRINCE OF WALES 2023 $472,030 $604,400 $730,525 $907,900
    NON-METRO SITKA CITY AND 2023 $586,500 $750,800 $907,550 $1,127,900
    NON-METRO SKAGWAY MUNICIP 2023 $524,400 $671,300 $811,450 $1,008,450
    NON-METRO SOUTHEAST FAIRB 2023 $472,030 $604,400 $730,525 $907,900
    NON-METRO WRANGELL CITY A 2023 $472,030 $604,400 $730,525 $907,900
    NON-METRO YAKUTAT CITY AN 2023 $472,030 $604,400 $730,525 $907,900
    NON-METRO YUKON-KOYUKUK C 2023 $472,030 $604,400 $730,525 $907,900

    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).