Top 5 FHA Lenders in Alaska 2019
Home Buyers looking for the best lenders in Alaska have a lot of shopping around to do. Alaska is home to almost 740,000 people, and with today’s mortgage rates as low as they are, the housing market is ready for serious home buyers. Home values have increased roughly 1.5 percent between December of 2017 through 2018 but are forecasted to fall by 3.9% through 2019.
The downward trend of home values makes it the prime time for home buyers on the market for a mortgage loan to obtain an affordable mortgage loan to make housing costs as low as possible. Getting a great mortgage would probably be the best place to start. And, since FHA loans offer low interest rates, down payments as little as 3.5%, and an ultra-low 580 credit score requirement, they’re often some of the most desirable loans for home buyers like you.
In this article, we’ll review the best FHA approved lenders in Alaska and how they can help you on your quest to home ownership.
2019 Alaska FHA Lender Best Picks
Best for First Time Home Buyers: Residential Mortgage, LLC
Best Online Experience: Guaranteed Rate
Best Local Lender: Pinnacle Mortgage Group
Best Face-to-Face Experience: Academy Mortgage Corporation
Best Overall Performance: Quicken Loans
#1 Alaska FHA Lender: Quicken Loans
Finding a mortgage online may have seemed sketchy at best a decade ago, but the amazing team over at Quicken loans has truly set the standard for the online mortgage experience. Quicken Loans (and it’s online division Rocket Mortgage) have made FHA financing as simple and straightforward as possible.
The online FHA loan process is highly geared towards a streamlined user experience. Progress on the status of an FHA loan application can be easily tracked online, and preapproval for an FHA loan can be completed in a matter of minutes.
The service even keeps applicants posted with any documentation they may have forgotten or still need to provide. The real icing on the cake comes from the support staff that can be reached by phone or through the website that is standing by to offer their advisory services and answer any questions a potential borrower may have.
#2 Alaska FHA Lender: Pinnacle Mortgage Group
When it comes to top-tier boutique mortgage brokers in the state of Alaska, it really doesn’t get much better than Pinnacle Mortgage Group. With only two office locations in the state, Pinnacle Mortgage Group functions as a DBA of First Rate Financial, an awesomely reputable national mortgage brokerage company.
Pinnacle Mortgage Group specializes in dealing with even the toughest of complexities in a mortgage transaction, and is a veritable machine when it comes to cranking out affordable mortgage products. FHA financing is one of their specialties, with many clients becoming more and more interested in the loan product, and Pinnacle always delivers.
Pinnacle mortgage group takes all of the hard work out of a mortgage transaction, making the entire process seem fluid and stress-free for the borrower. They even keep an online blog that breaks down and details each and every step of a mortgage transaction to help home buyers understand the mortgage process a little better.
#3 Alaska FHA Lender: Guaranteed Rate
A Kingpin of the online mortgage trend that plays a large role in FHA financing is Guaranteed Rate. Their participation in the digital mortgage wave leaves many other platforms lacking by comparison.
Guaranteed Rate is also extremely experienced with the origination of FHA loans. FHA financing through one of the best digital mortgage platforms available makes them serious competition to other FHA lenders, and highly favored among repeat and first time home buyers. FHA products are one of highest selling loans through guaranteed rate.
The online platform makes securely uploading the important financial documentation requested for a loan approval fast and easy. Borrowers can even check their credit scores through the service, rather than go elsewhere. Guaranteed Rate is one of the rare few digital mortgage platforms where a mortgage loan can be closed without ever needing to speak with someone unless requested by the home buyer.
#4 Alaska FHA Lender: Residential Mortgage, LLC
A subsidiary of Northrim Bank, Residential Mortgage, LLC was founded in 1998 with only 30 employees. Today, they have over 125 employees spread out between a dozen offices that service multiple states. They have serviced over 60,000 loans in the state of Alaska alone, and are Alaska’s number one lender for VA home loans.
Needless to say, they also have an impressive amount of experience with FHA financing as well. Home buyers have nothing but the best to say about the incredible customer service that is provided from the expert loan officers at Residential Mortgage. They seek to provide absolutely unmatched personal attention and guidance to all of their borrowers.
#5 Alaska FHA Lender: Academy Mortgage Corporation
Academy Mortgage Corporation has been around since 1988, and has made a name for themselves on a national scale. The company is committed to responsible lending practices, especially with the ever-changing economy of today.
Unlike many mortgage brokers around, Academy Mortgage Corporation has the advantage of being a direct mortgage lender. This means that they handle all loan processing, underwriting, closings, and funding at their local branch offices.
Being a direct lender, means being able to close mortgage loan transactions as efficiently and quickly as possible, sometimes even in a matter of days! With the security and efficiency of their in-house loan origination and management, they are one of the best when it comes to speedy and affordable FHA financing!
Shop Around Before You Get an Alaska FHA Loan
Our picks for the best FHA lenders in Alaska may not necessarily represent the best lender for your financial situation, goals, and desires. Everyone’s story is unique, and sometimes the best mortgage terms can be found in the most obscure places. As a home buyer, regardless of experience or lack thereof, the best plan of action is to shop around with multiple lenders to find out which one can provide the ideal home loan that comes with the terms and affordability that best suits any particular financial situation.
While looking at reviews can be a huge help, getting a one on one consultation could mean saving thousands. If you’d like some help in locating the best FHA lender in your area, don't hesitate to contact a home.loans mortgage expert!