Alaska USDA Loan Rates, Closing Costs & Stats
Alaska
USDA loans are zero-downpayment loans targeted towards lower-income households in rural areas. They can be made directly by the US Department of Agriculture or through a participating lender-- and they typically to borrowers with credit scores over 640. They can have subsidized rates, making them very competitive in terms of cost, but they have more stringent standards on who is eligible as well as specific covenants such as only being available in rural areas and limits on home size.
Alaska USDA Loans, 30 Year Fixed Rates
30 Year USDA mortgages in Alaska
averaged
6.84%
for the week of 2024-04-19, compared to the national average (all USDA variants) of
6.863% for the same period.
Alaska's average USDA mortgage closing costs are $6,109.
The average rate for the prior week (2024-04-12) was
6.7% and
one month ago for the week of 2024-03-15, the
average rate was 6.48%.
The average rate one year ago was 6.02%.
For refis of the same type during the week of 2024-04-19, the average rate
was 6.45%.
Alaska USDA Loan Lenders by Rates & Fees
The below table looks at the average fees/closing costs and rates for USDA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Alaska level.
| Name | # of Loans | 2023 Avg. 30yFix Rate | 2023 Avg. Closing Costs |
|---|---|---|---|
| CORNERSTONE HOME LENDING, INC. | 20 | 6.21% | $11,222 |
| MOVEMENT MORTGAGE, LLC | 8 | 6.56% | $8,297 |
| Alaska USA Federal Credit Union | 6 | 6.04% | $8,839 |
| NEWREZ LLC | 5 | 6.03% | $5,737 |
| RESIDENTIAL MORTGAGE, LLC | 3 | 6.38% | $5,647 |
| GENEVA FINANCIAL, LLC | 3 | 6.38% | $14,699 |
| UNITED WHOLESALE MORTGAGE, LLC | 3 | 6.08% | $10,083 |
| GUARANTEED RATE, INC. | 1 | 5.75% | $8,165 |
| Century Mortgage Company DBA Century Lending Company | 1 | 6.63% | $6,670 |
| FAIRWAY INDEPENDENT MORTGAGE CORPORATION | 1 | 6.75% | $4,553 |
| ACADEMY MORTGAGE CORPORATION | 1 | 5.75% | $8,283 |
| PRIMELENDING, A PLAINSCAPITAL COMPANY | 1 | 6.25% | $9,111 |
| TRUE NORTH FEDERAL CREDIT UNION | 1 | 6.75% | $8,148 |
The top Alaska USDA lender as defined by loan originations is CORNERSTONE HOME LENDING, INC., with
20 USDA loans originated. Their average total fees are
$11,222, which is $2,926
higher than the next largest lender,
MOVEMENT MORTGAGE, LLC.
The lowest fee Alaska USDA lenders (with over 10 loans originated) are
CORNERSTONE HOME LENDING, INC. ($11,222), .
The lowest rate Alaska USDA lenders (with over 10 loans originated) are
CORNERSTONE HOME LENDING, INC. (6.21%), .