Mortgage Juneau

Mortgage Juneau is developing everyday and the sector is providing some very essential back-up to the housing sector of Juneau. Mortgage Juneau consists of many old and new mortgage companies and mortgage brokers. The mortgage industry of Juneau has designed several mortgage loan programs to fulfill the financial needs related to home purchase and refinance etc.

Juneau is the capital city of the state of Alaska and has a rich history with a very high profile. The average income of the city is higher than the US average and from many other parts of Alaska. The standard of living is also high. The history of Juneau is related to the history of gold-mining which influenced the economy of this city. Right now there are several other factors such as the oil industry which is dominating the economic life of Juneau. The scenic beauty of Juneau attracts many people to settle there. Its forests, water bodies, mountains and sheet of ice makes the city’s aestheic profile very high.

The housing sector of Juneau is expanding slowly but steadily. The mortgage sector is also playing its role in the development. The average value of a house in Juneau is between $190,000 to $200,000. The mortgage loan sector of Juneau offers different loan plans to meet the requirements of the prospective home-buyers. Some of these loan plans are as follows:

Conforming (Fixed, Adjustable and Balloon Mortgages)
Jumbo Mortgage Loans
Interest Only Mortgage Loans (Conforming)
Interest Only Mortgage Loans (Non Conforming)
VA Loans
FHA Loans
Second Mortgage Loans
Reduced Document Loan

The interest rates on each of these types and their sub-types are different. Some of these loans are meant for the first time buyers. Some loans needs the repayment in five years and some are designed for thirty years. These variations causes the fluctuation of the interest rates and monthly installments. Some of the above said loans, their sub-types and the interest rates are given below:

10 Year Fixed Rate Mortgage: 5.750-6.000%
15 Year Fixed Rate Mortgage: 5.737-6.237%
20 Year Fixed Rate Mortgage: 6.125-6.250%
30 Year Fixed Rate Mortgage: 6.152-6.395%
1/1 Adjustable Rate Mortgage: 5.259%
3/1 Adjustable Rate Mortgage: 5.625-5.750%
5/1 Adjustable Rate Mortgage: 5.375-6.000%
7/1 Adjustable Rate Mortgage: 5.500-6.250%
10/1 Adjustable Rate Mortgage: 5.750-6.000%
5/25 Balloon Mortgage: 6.250%
7/23 Balloon Mortgage: 6.250%
30 Years Fixed FHA: 6.500-7.000%
15 Years Fixed FHA: 6.000-6.500%
30 Years Fixed VA: 6.500-7.000%
15 Years Fixed VA: 6.000-6.500%
30 Tears Fixed Jumbo: 6.375-6.500%
15 Years Fixed Jumbo: 6.125%
30 Years First Time Home Owner: 6.500%