Mortgages
With a customized mortgage from First Bank, you can get your dream home without having a nightmare of a monthly payment. Our loan representatives will tailor a loan to fit your needs - call (888)-851-5851 or email [email protected] today.
We offer a variety of affordable mortgages specifically created for you. As an added bonus, all our mortgages are serviced right here in Alaska. This means that when you have a question about your annual taxes and property insurance, or want to refinance your mortgage, our local loan expert will be ready and willing to help.
- Summary
- Fixed and adjustable rate mortgages (ARMs)
- Low mortgage rates
- Affordable payments
- No application fee
- Pre-approval available
- Refinancing options
- View mortgage activity through Online Banking
- Local underwriting and processing
- Commitment to personal service
We also service all of our investor mortgages right here in southeast Alaska - for the life of your loan.
- Mortgage Programs
Please note: Some programs are not included in all areas. Some restrictions may apply.
Standard Fixed Rate Home Loans
- Fixed rate of interest for the life of the loan
- A variety of loan terms are available
FHA Loans
- Allows borrowers to put down as little as 3.5% for a 1- 4 family homes
- Closing costs and down payment may be gift funds
- No income limits apply
VA Loans
- No down payment
- No PMI (Private Mortgage Insurance
- Low, competitive interest rates
Purchase Renovation Mortgages
- Allows borrowers to finance up to $50,000 in home improvements when purchasing their new home
HUD 184 Loans
- This loan program is available to member of federally recognized tribes. Eligible borrowers include American Indians and Alaskan Natives
- Low down payment of only 2.25%
- No income limits, increased loan amounts for 1-4 family homes
- No limit on gifts to the borrower to assist with down payment or closing costs
- Can be combined with any of the interest rate reduction programs available through Alaska Housing Finance Corporation
RD Guarantee 100% Financing
- Allows borrowers in rural areas to finance the entire purchase price of the house and some closing costs—up to 100% of the appraised value of the home
- Income limits do apply
- This program can be combined with any of the interest rate reduction programs available through Alaska Housing Finance Corporation
Rural Owner Occupied Mortgages
- Available with Alaska Housing Finance Programs
- Discounted interest rate and lower down payment requirements
- Available to borrowers in Petersburg, Wrangell, Prince of Wales Island, and the in the Ketchikan Gateway Borough
- Can be combined with any of the interest rate reduction programs available through Alaska Housing Finance Corporation
Interest Rate Reduction Programs
- Borrowers can use multiple Interest Rate Reduction Programs with AHFC loans to reduce interest rates by up to 2%
- Tax Exempt First Time Home Buyer Program
- Taxable First Time Home Buyer Program
- Energy Efficiency Interest Rate Reduction Program
- Interest Rate Reduction Program for Low Income Borrowers
- State Veteran Interest Rate Preference