Finance

What Do You Actually Need to Qualify for a Mortgage in Alaska?

When it comes to buying a home in Alaska, you would be surprised by the number of potential buyers that sit back because they do not think they will qualify for a mortgage. However, the reality is that qualifying for a mortgage is simpler than you think and as a result, you are missing out on the many benefits of homeownership!

If you're sick of renting, given the increasing costs each year, and are ready to settle into a place of your own, now is the time! Don't allow yourself to put off homeownership any longer, just research the facts. Consider the following your checklist of what it takes to qualify for a mortgage:

1. A Down Payment
Did you know nearly half of all ...

When a 30-Year Mortgage Is Not for You in Fairbanks AK Real Estate

One of the first steps you will take on your homebuying journey in Alaska is meeting with a lender to discuss your eligibility to take on a mortgage loan. You will likely be given a few quotes based on different loan products, each varying by terms, conditions, and interest rates. A 30-year fixed-rate mortgage is a common choice for homebuyers in Anchorage, Fairbanks, Eagle River, Palmer, Wasilla, North Pole and the surrounding areas, however, there are a few reasons why this mortgage may not be for you.

As you decide which mortgage may be right for you this year, consider the following reasons...

Fairbanks, Anchorage Real Estate: 4 Financial Reasons to Buy a House in Alaska

With mortgage rates low and new down payment programs in place to widen access to homeownership, Alaskan homebuyers are feeling confident. However, the age-old question persists: Do you jump into the real estate market and buy a house in Alaska or stay in your safe zone and continue to rent? 

It is true that the reasons are different for every homebuyer and each financial situation will vary. But given where home prices are headed in 2015, it's time to set your sights on homeownership! Here are 4 important financial reasons to consider in your decision to buy:

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How to Prepare Your Finances for Alaskan Real Estate

With a new season comes a wave of excitement and motivation for new beginnings. That may mean you've started the process of homebuying with a home search for Alaskan real estate, but are your finances in order? Before you move too much further into your homebuying process, take the time to spring clean your finances this season and you'll be in great shape for buying a new home in Fairbanks and Anchorage. Here are a few places you can start spring cleaning your budget, credit and bank accounts:

Start With Your Budget
When preparing to buy a new home in Alaska, your budget will be the foundation. It's time to sit down and examine your finances, taking note of your spending habits over the past few months. Have you found areas in which you're spending more than others? Is this necessary spending or something you could cut out? After you've identified the categories of your spending,...