The Walden Madden Real Estate Blog

Why Is It Important to Get Pre-Approved for an Alaskan Home?

You may have heard that pre-approval is a great first step in the homebuying process. But why is it so important? When looking for a home, the temptation to fall in love with a house that’s outside your budget is very real. So, before you start shopping around for homes in Alaska, it’s helpful to know your price range, what you’re comfortable within a monthly mortgage payment, and ultimately how much money you can borrow for your loan. Pre-approval from a lender is the only way to do this.

According to a recent survey from Realtor.com, many buyers are making the mistake of skipping the pre-approval step in the homebuying process. In fact, only half obtained a pre-approval letter before beginning their home search, which means half are missing...

Why Buying a Home in Alaska Still Makes More Sense Than Renting

While you may be watching mortgage rates rise (the average 30-year fixed rate currently hovering around 7 percent) and the number of homes to choose from on the lower end, there is one important concept to consider— buying a home in Alaska is still a better investment than renting.

We know that buying a home can feel like a major obstacle for many first-timers in Fairbanks, Anchorage, Eagle River, Palmer, Wasilla, North Pole, and beyond, but passing on the opportunity this year could create an even bigger hurdle later as rents will only continue to rise and the days of the 3 percent mortgage rate may be long behind us.

Below are three reasons why homeownership...