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Fairbanks

Current Mortgage Rates in Fairbanks, Alaska

Compare mortgage rates and fees for leading lenders in Fairbanks, AK. Review free, personalized mortgage rates based on your specifc loan amount, program and other factors. Easily compare APRs, closing costs and monthly payments to find the lender offering the best mortgage rates in Fairbanks.

We recommend that you contact at least five lenders as shopping multiple lenders is the best way to save money on your mortgage in Fairbanks. Plus, shopping lenders is free and there is no obligation.

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Mortgage Rates in Fairbanks, AK as of January 20, 2020
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Data provided by Informa Research Services. Payments do not include amounts for taxes and insurance premiums. Click for more information on rates and product details.
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How Do Today's Fairbanks, AK Mortgage Rates Compare?

January 20, 2020

The current average rate for a 30 year fixed rate mortgage in Fairbanks is A.AAA%, the rate for a 15 year fixed rate mortgage is B.BBB% and the rate for a 5/1 adjustable rate mortgage (ARM) is C.CCC%

Mortgage Program
Today's
Fairbanks, AK Rates
National
Average
Comparison
30 Year Fixed Rate
A.AAA%
3.690%
15 Year Fixed Rate
B.BBB%
3.150%
5/1 Adjustable Rate Mortgage
C.CCC%
3.350%

How Affordable is Housing in Fairbanks, Alaska?

Below we provide helpful information on the real estate market, home prices and housing affordability in Fairbanks. Understand how much you need to earn to afford a home in Fairbanks, including the mortgage you need to qualify for. Review the monthy payment so you can determine if owning a house in Fairbanks fits your budget. This information is based on proprietary analysis you can only find on FREEandCLEAR and we offer it to help you decide if living in Fairbanks is right for you.

The median home value for Fairbanks, AK is $269,279

Based on current mortgage rates and a 10% down payment, you need to make $48,463 per year to buy the median priced home in Fairbanks

With this income, you could qualify for a $242,351 mortgage, assuming your monthly debt expense is reasonable

Based on this loan amount, the monthly mortgage payment required to buy the median priced home in Fairbanks is $1,122

The median household income for Fairbanks, AK is $80,416

Based on this income, you can afford a home valued at approximately $446,822

The home price you can afford to buy based on household income in Fairbanks is 166% of the median home value which means housing prices are average. Fairbanks ranks 18 out of 29 counties in Alaska and 2,247 out of 3,142 counties in the United States for housing affordability.

According to the FREEandCLEAR Housing Affordability Index, the housing market in Fairbanks, AK is average

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Loan Limits for Fairbanks, Alaska

Mortgage limits affect your loan terms, mortgage program eligibility and what price home you can afford. Review the loan limits for Fairbanks below.

Conforming loan limits for Fairbanks, AK

1 unit: $765,600
2 units: $980,325
3 units: $1,184,925
4 units: $1,472,550

FHA loan limits for Fairbanks, AK

1 unit: $331,760
2 units: $424,800
3 units: $513,450
4 units: $638,100

VA loan limits for Fairbanks, AK

1 unit: $765,600

Additional Mortgage Resources for Fairbanks, AK Residents

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