The Homebuying Experience you Deserve

FHA

Federal Housing Administration (FHA) loans are insured by the federal government. They can be used to purchase or refinance a new or existing 1- to 4-unit home, condominium, or a manufactured or mobile home (provided it is on a permanent foundation).

The first step to purchasing a home is to get preapproved by your lender. An Alaska USA home loan expert will evaluate your current financial situation to determine how much home you can afford to buy, so you don’t have to start your home shopping in the dark.

Getting preapproved also lets the seller of your future home know that you’re ready to do business, putting you in front of other home shoppers that might be considering the same homes.

To get started with preapproval you can either contact us directly or get started online.

Additional benefits of preapproval:

• Your mortgage payment won't be affected if interest rates increase. This is especially helpful if you plan to own your home for five or more years.
• You know what your monthly mortgage expense will be for the entire term of your mortgage. This can help you plan for other expenses and long-term goals.
• While your actual mortgage payment will not change, your total monthly payment can occasionally increase based on changes to your taxes and insurance. In many cases you can choose to pay these costs as part of your monthly payment through an escrow account.

Refinance your current home
VA refinance loans are available to qualified homeowners to either reduce the amount of their monthly mortgage payment, or to take cash out of their home’s equity for debt consolidation, home improvements, college, and more.

VA Streamline Refinance
A great option to take advantage of when home interest rates are low. A low interest rate can mean a smaller monthly payment or reduced loan term. Refinancing closing costs can be rolled into loan for little or no out-of-pocket expenses.

VA Cash-Out Refinance
Refinance up to 100% of your home’s value with a VA Cash-Out Refinance. Use the built-up equity in your home for the financial flexibility you need to achieve your goals–from paying off credit cards to home repairs and improvements.

To get started with refinancing you can either contact us directly or get started online.

Many traditional, non-VA loans require a down payment of around 20% and private mortgage insurance of up to 1% a year. On a $200,000 loan, that can mean $40,000 upfront, plus an additional $2,000 a year for mortgage insurance—on top of your monthly mortgage payment!

VA loans are backed by the U.S. government, so there’s no down payment, no private mortgage insurance requirement, and the overall requirements for qualifying are more flexible. That means a lot less money up-front, and less money on a yearly basis than you’d see from a traditional loan.

On top of that, if you’re an active duty member you can use your Basic Allowance for Housing (BAH) to pay for some or all of your mortgage costs.