Understanding Today’s Mortgage and Multifamily Loan Interest Rates from AHFC
Today’s rates are a crucial factor for anyone considering a mortgage or multifamily loan. The Alaska Housing Finance Corporation (AHFC) provides a range of loan programs with varying interest rates, updated daily. This article outlines current AHFC rates, recent rate history, and important considerations for prospective borrowers.
AHFC Single-Family Loan Rates: Today’s Update
AHFC publishes daily interest rates for its single-family loan programs, valid until 10 PM each business day. These rates apply to various programs designed to assist Alaskans in achieving homeownership. Below is a summary of today’s rates (March 12, 2025):
| Loan Programs | 30 Year | 15 Year |
|---|---|---|
| First Home Limited & Veterans First Home Limited | 5.875% | 5.375% |
| Veterans Mortgage Program | 5.875% | 5.375% |
| First Home | 6.375% | 5.625% |
| My Home | 6.500% | 5.750% |
| Rural Owner Occupied | 6.000% | 5.500% |
| Rural Non-Owner Occupied | 6.250% | 5.750% |
| Uniquely Alaskan | 6.750% | 6.000% |
Important Considerations for Single-Family Rates:
- Rural Loan Limits: For Rural Owner Occupied and Rural Non-Owner Occupied loans, the listed interest rates apply to the first $250,000 of the loan. Any amount exceeding this limit will have a rate 1% higher.
- New Purchase vs. Refinance: Lower rates are available for new home purchases under the First Home Limited, Veterans First Home Limited, and Veterans Mortgage Programs. Refinancing under these programs will result in a 0.25% higher rate. Refinancing under the First Home, My Home, Rural Owner Occupied, and Uniquely Alaskan programs will have a 0.125% higher rate.
AHFC Multifamily Loan Rates: Current Week’s Overview
Multifamily loan rates are updated weekly and cater to larger-scale housing projects. Here are the rates for the week of March 10, 2025:
| Multifamily Programs | Loan Amount | 30 Year | 15 Year |
|---|---|---|---|
| Taxable Loan | Over $1,000,000 | 7.500% | 6.875% |
| Taxable Loan | $500,001 to 1,000,000 | 7.625% | 7.000% |
| Taxable Loan | Up to $500,000 | 7.750% | 7.125% |
| Rural Loan | Up to $250,000 | 6.750% | 6.125% |
Balloon Loans (10-Year Fixed Term, 30-Year Amortization):
| Loan Amount | 10 Year |
|---|---|
| Over $1,000,000 | 7.125% |
| $500,000 to 1,000,000 | 7.250% |
| Up to $500,000 | 7.375% |
Important Considerations for Multifamily Rates:
- Rural Loan Limits: Similar to single-family rural loans, the stated rate applies only to the first $250,000. The remaining balance is subject to the Taxable Loan rate.
- Balloon Loan Structure: Balloon loans offer a fixed rate for 10 years but are amortized over 30 years, requiring a balloon payment at the end of the 10-year term.
- Additional Rate Reductions: AHFC offers further rate reductions for projects that benefit low- to moderate-income borrowers or meet specific energy efficiency standards.
Historical Rate Data: Tracking Trends
AHFC maintains a 30-day history of its loan rates. While today’s rates provide a snapshot of the current lending environment, reviewing past trends can offer valuable context. Refer to the AHFC website for the complete 30-day rate history table.
Finding the Right Loan for You:
Remember, these are just the base rates. Consulting with an AHFC-approved lender is essential to determine your eligibility, applicable fees, and the final Annual Percentage Rate (APR) for your specific loan. They can help you navigate the various programs and find the best fit for your financial situation. Contact a lender today to learn more about securing financing through AHFC.
