Alaska FHA Loan Rates, Closing Costs & Stats
Alaska
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%
for the week of 2024-10-11, compared to the national average (all FHA variants) of
6.1% for the same period.
Alaska's average FHA mortgage closing costs are $8,726.
The average rate for the prior week (2024-10-04) was
5.72% and
one month ago for the week of 2024-09-06, the
average rate was 5.95%.
The average rate one year ago was 7.27%.
For refis of the same type during the week of 2024-10-11, the average rate
was 5.9%.
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.
The top Alaska FHA lender as defined by loan originations is NEWREZ LLC, with
162 FHA loans originated. Their average total fees are
$11,682, which is $1,625
higher than the next largest lender,
Alaska USA Federal Credit Union.
The lowest fee Alaska FHA lenders (with over 10 loans originated) are
NuVision Federal Credit Union ($8,144), RESIDENTIAL MORTGAGE, LLC ($9,978), Alaska USA Federal Credit Union ($10,058), FAIRWAY INDEPENDENT MORTGAGE CORPORATION ($10,466) and ACADEMY MORTGAGE CORPORATION ($11,474).
The lowest rate Alaska FHA lenders (with over 10 loans originated) are
SUN WEST MORTGAGE COMPANY, INC. (6.01%), NuVision Federal Credit Union (6.12%), QUICKEN LOANS, LLC (6.20%), FAIRWAY INDEPENDENT MORTGAGE CORPORATION (6.35%) and UNITED WHOLESALE MORTGAGE, LLC (6.36%).
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 |