First or second Deed of Trust on member's primary residence, second home, or non-owner
occupied residential properties.
Detached single-family, zero-lot-line, or two- to four-unit properties
that meet the standards of the secondary market for qualifying home loans. Condominiums are ineligible.
Available loan amount
Up to 80% of the property's value (less any outstanding mortgage balance).
An appraisal report no more than 90 days old, and from an appraiser approved by
the credit union will be acceptable. Typically, appraisals must be ordered by the credit union.
Exceptions may be approved by the credit union.
In all cases, no evidence may indicate that environmental contamination exists on or near the property.
Current fixed-interest rates and terms are available on the real estate loan rates page
Maximum term of 180 months (15 years) on second homes and non-owner occupied residential properties. Second homes destined to become member's retirement home have a maximum term of 240 months (20 years).
$99 Loan Processing Fee for all initial loans. A 1% Origination Fee is charged
only if the loan is being made to refinance an existing Alaska USA real estate loan. Appraisal fee
(approximately $400 to $750, depending on area). Title insurance may be required in some cases. This cost varies depending
upon loan amount.
Hazard insurance, and flood insurance if required, with the credit union
as additional loss payee.
To qualify, borrowers should have good credit histories. If there were
past credit problems, there should be no ongoing problems or negative items in the credit record during
the past 2 years other than minor entries. Total monthly obligations, including the proposed loan payment,
should not exceed a reasonable percentage of gross monthly income. Acceptable percentages range from
30% to 60% depending upon a borrower's level of income. Every borrower's situation is unique and is
If you have any questions about this program or wish to submit an application
telephonically, please call 786-2800 in Anchorage, or (888) 425-9813 outside
of Anchorage. Completed applications may be submitted at any branch office,
faxed to (907) 786-2177, or mailed to Alaska USA's Real Estate Telephone Loan Center at P.O. Box
196613, Anchorage, AK 99519-6613. Please be aware that once the loan has been closed,
there is a mandatory delay of 3 business days before any loan funds can be disbursed
as required by federal regulation.
Last Updated: 6/13/2013