MORTGAGE PROGRAMS

Explore Our Range of Mortgage Solutions

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.
(Please note: Some programs are not included in all areas. Some restrictions may apply.)

Call (888) 851-5851 or email Mortgage@FirstBankAK.com to get started today.


Standard Fixed-Rate Home Loans

• Fixed rate of interest for the life of the loan.

• A variety of loan terms are available.

VA Loans

• No down payment.

• No PMI (Private Mortgage Insurance).

• Low, competitive interest rates.

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.

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.

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.

Purchase Renovation Mortgages

• Allows borrowers to finance up to $50,000 in home improvements when purchasing their new home.

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.