Alaska USA Federal Credit Union was chartered in 1948 as a not-for-profit cooperative. It currently has more than 250,000 members worldwide, with almost 50 branches in Alaska and Washington. Some of the branches are located within supermarket chain stores. Alaska USA Federal Credit Union is one of America’s leading credit unions though membership is not required to take advantage of their trust and investment services. Commercial and business loans, deposit, and insurance services are also available. Online banking is provided to all customers. In 1992, Alaska USA Federal Credit Union established the Alaska USA Mortgage Company.
Pre-qualification and loan applications can be completed and submitted to Alaska USA Mortgage Company online. The variety of mortgage types offers flexible choices for first time homebuyers and those looking to invest in a larger home. They also have loans available for homeowners who wish to refinance their current mortgage.
Mortgage Loans Available Through Alaska USA Mortgage Company:
- Fixed rate mortgage – Choose the term length that’s best for you, whether it’s a 15-, 30- or 40-year loan. Fixed rate mortgages are based on a pre-determined interest rate that applies for the duration of the loan. When the prime interest rate is low, many find fixed rate mortgages to be especially attractive.
- Adjustable Rate Mortgage (ARM) – This type of mortgage begins with a lower interest rate. Over the course of the loan it may increase to reflect the current financial market. Some ARMs include balloon payments toward the end of the term. Adjustable rate mortgages are not for everybody, but they may be right for you.
- Alaska USA 3/1 or 5/1 Adjustable Rate Mortgage (ARM) – This unique ARM package is offered exclusively to Alaska USA members. It offers an initial low interest rate for three or five years, after which the loan converts to an adjustable rate. Enjoy the advantages of both fixed rate and adjustable rate mortgages.
- No cost/low cost mortgage – Avoid paying the closing costs associated with a mortgage by paying slightly more interest over the length of your loan. This type of mortgage works well for those who prefer to spread the costs of the loan over time rather than paying a lump sum up front.
- First time homebuyer programs – Special incentives such as lower interest rates are available to qualified applicants seeking to purchase their first home.
- Rehabilitation mortgage – If you’d like to invest in a property that needs fixing up, a rehabilitation mortgage will provide you with the funds to do both.
- Rural mortgage – Take advantage of the low interest rate that this type of mortgage offers when you invest in a rural area home.
- Low-income assistance – For qualified applicants with special financial needs, they offer low-income assistance with a reduced down payment or lower interest rates.
- Refinancing – If you already own your own home but would like to refinance your existing mortgage, consider whether any of the above loan packages will work for you.
What’s New at Alaska USA Federal Credit Union
Alaska USA Federal Credit Union is providing free online information on fraud protection and phishing schemes. Links to various sources include tips on how to avoid getting scammed and a list of common fraud schemes.
You can apply online for the low fixed rate Alaska USAVisa Platinum Credit Card. Earn 5% cash back with the 24/7 Travel Advantage Reservation Service when you use the card to pay for airline tickets, rental car, and hotel room. Reward points earned from purchases can be used toward merchandise or travel related expenses.
Alaska USA is now accepting online applications for home equity lines of credit and home equity loans. You can use the home equity built up in your home as collateral for the loan. Check with your tax advisor to see if the interest paid on the loan is tax deductible.
This site is not a broker and does not collect or solicit mortgage applications. Content is for informational or comparison purposes only. Services are not available in New York. Products and services may not be available in all other states.