Alaska FHA Home Loans
Alaska FHA loans are home loans insured by the Federal Housing Administration which gives Alaska borrowers the opportunity to secure AK home loans, when they don’t quality for other conventional loans. For example, future Alaska homeowners with little credit history or poor credit history are sometimes able to qualify for Alaska FHA loans.
Loans for First Time Homeowners
AK FHA loans are ideal for first-time Alaska homeowners due to low down-payment requirements and flexible qualifying guidelines.
Alaska Refinancing with FHA Loans
FHA also offers a refinancing option for Alaska homeowners where it’s possible to refinance up to 97.5% of your home’s value. Additionally, there’s also an option for FHA cash-out refinance of up to 85%.
Requirements in Alaska
- No income limit
- Alaska borrower credit score flexibility
- 3.5% down payment on Alaska Purchase Loans
- Bankruptcy: AK FHA loans can be obtained as soon as 2 years after Chapter 7 discharge (assuming good credit history since)
- Foreclosures: An Alaska FHA loan can be obtained as early as 3 years after the final date of foreclosure (assuming good credit history since)
Alaska (AK) FHA Loan Limits
FHA loan limits in Alaska vary based on a number of criteria including the specific location (county), number of units in the property (up to 4-unit properties in Alaska), etc. Please contact Home Point Financial’s Alaska FHA loan experts for details on loan limits for FHA loans in Alaska (AK).
Contact Home Point Financial to learn more about FHA loans in Alaska.
