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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 August 19, 2019
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Input your information to receive personalized mortgage quotes from preferred lenders. Comparing proposals from multiple lenders is the best way to save money on your mortgage.

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.

How Do Today's Fairbanks, AK Mortgage Rates Compare?

August 19, 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%

Mortgage Program
Today's
Fairbanks, AK Rates
National
Average
Comparison
30 Year Fixed Rate
A.AAA%
3.600%
15 Year Fixed Rate
B.BBB%
3.050%
5/1 Adjustable Rate Mortgage
C.CCC%
3.360%

How Affordable is Housing in Fairbanks, Alaska?

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 by 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

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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: $726,525
2 units: $930,300
3 units: $1,124,475
4 units: $1,397,400

FHA loan limits for Fairbanks, AK

1 unit: $314,827
2 units: $403,125
3 units: $487,250
4 units: $605,525

VA loan limits for Fairbanks, AK

1 unit: $726,525

Additional Mortgage Resources for Fairbanks, AK Residents

Mortgage Rates for Alaska Cities

Anchorage Mortgage Rates

Fairbanks Mortgage Rates

Juneau Mortgage Rates

Kenai Peninsula Mortgage Rates

Matanuska Susitna Mortgage Rates

Sources

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