Is Alaska USA Mortgage Company, LLC An Expensive Mortgage Lender?

We compare mortgage interest rate and loan related closing costs at Alaska USA Mortgage Company, LLC with other lenders for mortgages with similar borrower characteristics:

Interest Rate: similar to average (-0.05%)
Loan Related Closing Costs: lower than average (-$688)
Assessment: this lender tends to be a cheap lender.

This scoreboard is based on data reported to FFIEC. In the data, Alaska USA Mortgage Company, LLC originated 3080 mortgages, a national market share of 0.0%. It was most active in AK (19.3% market share), WA (0.4% market share), and CA (0.0% market share).

On average, Alaska USA Mortgage Company, LLC’s interest rates were similar to those of comparable mortgages at other lenders (-0.05%).1The comparable mortgages control for Alaska USA Mortgage Company, LLC’s distribution of loan term (e.g. 30 year vs 15 year), loan-to-value (LTV), debt-to-income (DTI), loan amount, loan program (e.g. Conforming/FHA), loan purpose (e.g. purchase/refinance), and county. Interest rate and loan related closing costs are estimated based on fixed rate mortgages only, whereas market shares include all purchase or refinance mortgages. Its average total loan related closing cost was $4590, which was lower than those of comparable mortgages at $5277, with a difference of -$688. Overall, we estimate that Alaska USA Mortgage Company, LLC tends to be an cheap lender, with a cost-adjusted-rate difference of -0.10% compared to comparable mortgages at other lenders.2Cost adjusted rates were computed based on each percent of the loan amount in loan related closing costs being worth 1/6 of a percentage point in interest rate. Nevertheless, we recommend comparing your rate and fees with at least a few other lenders before signing with Alaska USA Mortgage Company, LLC.

Alaska USA Mortgage Company, LLC originated Conforming, FHA, USDA and VA mortgages for new home purchases. It also originated Conforming, FHA and VA mortgages for refinances. We breakdown its interest rate and total loan related closing cost on by each of the mortgage types it originated below:

Home Purchase Mortgages from Alaska USA Mortgage Company, LLC compared to other lenders

Conforming FHA USDA VA
Interest Rate Difference -0.04% -0.09% -0.09% -0.04%
Loan related Closing Cost Difference -$601 -$1437 -$786 -$838
Cost Adjusted Rate Difference -0.08% -0.19% -0.16% -0.10%

Based on the table above, Alaska USA Mortgage Company, LLC is cheap for Conforming, FHA, USDA and VA purchase mortgages.

Mortgage Refinancing from Alaska USA Mortgage Company, LLC compared to other lenders

Conforming FHA VA
Interest Rate Difference -0.02% -0.14% -0.03%
Loan Related Closing Cost Difference -$200 -$317 -$666
Cost Adjusted Rate Difference -0.04% -0.16% -0.08%

Based on the table above, Alaska USA Mortgage Company, LLC is cheap for FHA and VA mortgage refinance. It is similar to other lenders for Conforming mortgage refinance.

Other information about Alaska USA Mortgage Company, LLC:

Regulator: United States Department of Housing and Urban Development (HUD) 
Registered city and state: Anchorage, AK, 99503-6636
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Footnotes

1 The comparable mortgages control for Alaska USA Mortgage Company, LLC’s distribution of loan term (e.g. 30 year vs 15 year), loan-to-value (LTV), debt-to-income (DTI), loan amount, loan program (e.g. Conforming/FHA), loan purpose (e.g. purchase/refinance), and county. Interest rate and loan related closing costs are estimated based on fixed rate mortgages only, whereas market shares include all purchase or refinance mortgages.
2 Cost adjusted rates were computed based on each percent of the loan amount in loan related closing costs being worth 1/6 of a percentage point in interest rate.