Home Loans & Real Estate Loans

Mortgage loans

Mortgage loans

If you're planning to purchase a new home, investment property, second home, or refinance your existing home loan, contact Alaska USA Mortgage Company.

Real estate loans

Real estate loans

For other real estate loans from Alaska USA:

  • Call the Real Estate Telephone Loan Center:
    (907) 786-2800 in Anchorage or (888) 425-9813 from other Alaska or Washington locations.

Real estate loan types

  • Home Equity Line of Credit
    Use the equity you have established in your home to secure a line of credit.
  • Home Improvement Loans:
    Repair, renovate, or improve your home.
  • Residential Equity Loans:
    For loans against the equity you have built up in your current home.
  • Residential Lot Loans:
    For purchasing or refinancing a residential lot intended for the construction of your personal residence.
  • Recreational Property Loans:
    For purchasing or refinancing a recreational property intended for your personal use.
Residential Construction

Residential Construction

 * Currently Available in Alaska only.

Start your home construction project with a residential construction loan from Alaska USA. It’s the perfect solution when you need to finance the building of a home from the ground up or for extensive remodeling.

Building on the future

When you want to build your own home, where do you begin? A residential construction loan is a short-term financing option that gives you the means to pay for construction as your new home is being built.

It’s affordable because you only pay the interest due each month. At the end of the loan term, you’ll need to pay off the construction loan. Most people do this with a new mortgage loan on the completed property.

Alaska USA residential construction loans require that you prequalify for a mortgage loan from Alaska USA Mortgage Company for at least the amount of the construction loan, and that you choose a contractor that meets Alaska USA’s requirements for approval.


Qualification – The home must be a one-to-four family home to be used as a member’s primary dwelling (excluding spec homes and land development).

Term – The initial term is up to 12 months. Members may be granted a one-time extension – up to an additional three months.


  • Interest rates are variable and may adjust daily
  • Low origination fees
  • Inspection fees – a minimum of $75.00 will be assessed for each inspection

Repaying the loan –While the loan is outstanding, you’ll pay the monthly interest due. All principal is due at maturity, and can be paid with a mortgage loan.

Financing – You may borrow up to 80% of your home’s value (lesser of total construction cost or appraised value). Cost of construction includes land, cost to construct plus 10% contingency, closing fees, and estimated interest payments and other soft costs.

Approved contractors

General contractors must meet Alaska USA’s requirements for approval. Your request to add a contractor to the Alaska USA approved list will be considered if your contractor is not currently listed. General contractor qualifications include:

  • Licensed and bonded with a residential endorsement
  • Business license
  • Primary business must be residential construction
  • In business for the past five consecutive years and have built a minimum of five homes
  • Satisfactory credit history and a Certificate of Insurance with appropriate limits