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.
October 14, 2019
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%
The median home value for Fairbanks, AK is $255,969
The median household income for Fairbanks, AK is $78,581
Based on current mortgage rates and a 10% down payment, you need to make $47,490 per year to buy the median priced home in Fairbanks
The home price you can afford to buy based on household income in Fairbanks is 165% of the median home value which means housing prices are average
Fairbanks ranks 15 out of 29 counties in Alaska and 2,278 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
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
FHA loan limits for Fairbanks, AK
VA loan limits for Fairbanks, AK
US Census Bureau American Community Survey: https://www.census.gov/programs-surveys/acs
FHFA House Price Index: https://www.fhfa.gov/DataTools/Downloads/Pages/House-Price-Index-Datasets.aspx#qat
Income Growth: https://www.bls.gov
National Average Rates: http://www.freddiemac.com/pmms/
Conforming Loan Limits: https://www.fhfa.gov/DataTools/Downloads/Pages/Conforming-Loan-Limits.aspx
FHA Loan Limits: https://entp.hud.gov/idapp/html/hicostlook.cfm
VA Loan Limits: https://www.benefits.va.gov/homeloans/purchaseco_loan_limits.asp
FREEandCLEAR Housing Affordability Index