At Premier Mortgage, we help Alaskans in Wasilla, Anchorage, Palmer, Homer, and beyond finance luxury homes and high-value properties with jumbo loans. Jumbo loans exceed Alaska’s 2025 conforming loan limit of $1,209,750 for single-family homes, offering financing up to $3 million for primary residences, second homes, or investment properties. Our expert team provides competitive rates and flexible terms tailored to Alaska’s unique housing market. Apply Online or call (907) 841-1600 to get started.
What Are Jumbo Loans?
Jumbo loans are non-conforming mortgages that exceed the Federal Housing Finance Agency (FHFA) conforming loan limit ($1,209,750 in Alaska for 2025). They’re ideal for financing high-end homes in Anchorage’s competitive market or rural estates in Homer. While riskier for lenders due to their size and lack of Fannie Mae/Freddie Mac backing, our jumbo loan programs, serviced by United Wholesale Mortgage (UWM), offer borrower solicitation protection and flexible options for purchases, rate/term refinances, and cash-out refinances.
Premier Mortgage Jumbo Loan Programs
Prime Jumbo (15- or 30-Year Fixed)
- Loan Amounts: Up to $3M.
- Eligibility: 680+ FICO, up to 45% DTI, up to 89.99% LTV.
- Properties: Primary, second, investment homes for purchases, rate/term, or cash-out refinances.
- Appraisals: One for purchases up to $3M and refinances up to $2M; two from different appraisers for refinances over $2M.
- Reserves: 18 months for loans over $2M, plus Automated Underwriting System (AUS) requirements.
- Features: Seller- and lender-paid Temporary Rate Buydowns available for 30-year fixed on primary/second home purchases.
- Alaska Fit: Perfect for Wasilla luxury homes or Anchorage high-value condos.
Prime Jumbo Released (30-Year Fixed)
- Loan Amounts: Up to $3M.
- Eligibility: 680+ FICO, up to 45% DTI, up to 89.99% LTV.
- Properties: Primary, second, investment homes for purchases, rate/term, or cash-out refinances.
- Appraisals: One for loans up to $2M; two from different appraisers for loans over $2M.
- Reserves: 18 months for loans over $2M, plus AUS requirements.
- Alaska Fit: Ideal for Palmer investment properties or Homer vacation homes.
Prime Jumbo ARMs (5-, 7-, 10-Year)
- Loan Amounts: Up to $3M.
- Eligibility: 680+ FICO, up to 45% DTI, up to 80% LTV.
- Properties: Primary, second, investment homes for purchases, rate/term, or cash-out refinances.
- Appraisals: One for purchases up to $3M and refinances up to $2M; two for refinances over $2M.
- Reserves: 18 months for loans over $2M, plus AUS requirements.
- Alaska Fit: Suits buyers in Anchorage seeking lower initial rates for short-term ownership.
Prime Jumbo Interest Only (30-Year Fixed)
- Loan Amounts: Up to $3M.
- Eligibility: 700+ FICO, up to 43% DTI, up to 80% LTV.
- Structure: 10-year interest-only period, 20-year amortization.
- Properties: Primary and second homes for purchases and rate/term refinances.
- Appraisals: One for purchases up to $3M and refinances up to $2M; two for refinances over $2M.
- Reserves: 12 months for loans up to $1M; 24 months for loans over $1M, plus AUS requirements.
- Alaska Fit: Great for Wasilla professionals wanting lower payments during the interest-only period.
Prime Jumbo Max (30-Year Fixed)
- Loan Amounts: Up to $2.5M (up to 85% LTV); up to $1.5M (85.01-89.99% LTV).
- Eligibility: 700+ FICO; up to 43% DTI (up to 85% LTV), up to 40% DTI (85.01-89.99% LTV).
- Properties: Primary and second homes for purchases, rate/term, and cash-out refinances (cash-out up to $500,000).
- Appraisals: One for loans up to $1.5M; two from different appraisers for loans over $1M.
- Reserves:
- Primary purchases up to $2M: 9-12 months.
- Second home loans over $2M: 24 months.
- Primary cash-out up to $2M: 12 months ($300,000 max cash back).
- Primary cash-out $2M-$2.5M: 24 months ($500,000 max cash back).
- Second home cash-out up to $1M: 12 months ($300,000 max cash back).
- Second home cash-out $1M-$1.5M: 18 months ($300,000 max cash back).
- Alaska Fit: High LTV options for Homer second homes or Anchorage primary residences.
Prime Jumbo Max ARMs (7- and 10-Year Fixed)
- Loan Amounts: Up to $3M.
- Eligibility: 700+ FICO, up to 43% DTI, up to 80% LTV.
- Properties: Primary and second homes for purchases, rate/term, and cash-out refinances.
- Appraisals: One for loans up to $1.5M; two for loans over $1.5M.
- Reserves:
- Primary purchases up to $3M: 6-18 months.
- Second home purchases up to $3M: 12-18 months.
- Primary cash-out up to $1.5M: 12 months ($250,000 max cash back).
- Primary cash-out $1.5M-$2M: 15 months ($500,000 max cash back).
- Second home cash-out up to $1.5M: 12-18 months ($250,000 max cash back).
- Second home cash-out $1.5M-$2M: 18 months ($500,000 max cash back).
- Alaska Fit: Flexible for Palmer buyers planning to sell within a decade.
Why Choose Jumbo Loans in Alaska?
- Higher Loan Limits: Finance homes above Alaska’s $1,209,750 conforming limit, up to $3M, ideal for Anchorage’s luxury market (median home price ~$400,000-$450,000, with high-end homes exceeding $1.2M).
- Competitive Rates: 30-year fixed rates ~6.92-7.16%, 15-year fixed ~6.36% (May 2025), sometimes lower than conventional loans. ARMs start at ~5-6%.
- Flexible Properties: Eligible for primary residences, second homes, or investment properties in Wasilla or Homer.
- High LTV Options: Up to 89.99% LTV allows purchases with as little as 10.01% down (e.g., $222,469 on a $2.22M home).
- Temporary Rate Buydowns: Available on 30-year fixed for primary/second home purchases, reducing initial payments.
Jumbo Loan Qualifications
- Credit Score: 680+ (Prime Jumbo, Released, ARMs); 700+ (Interest Only, Max, Max ARMs).
- Debt-to-Income (DTI) Ratio: Up to 45% (Prime Jumbo, Released, ARMs); 43% (Interest Only, Max); 40% (Max 85.01-89.99% LTV).
- Down Payment: 10.01-20% (e.g., $100,100 on a $1M home); higher for lower LTVs.
- Reserves: 6-24 months, with 18-24 months for loans over $2M or high-LTV options.
- Documentation: 2 years’ tax returns, W-2s, pay stubs; bank statements for reserves.
- Appraisals: One for smaller loans; two for refinances over $1M-$2M or purchases/refinances over $1.5M-$3M.
Not sure if you qualify? Contact our Anchorage team at (907) 841-1600 for a free consultation!
Why Choose Premier Mortgage for Jumbo Loans in Alaska?
- Local Expertise: We understand Alaska’s high-cost market, from Wasilla’s luxury homes to Palmer’s investment properties.
- UWM Servicing: Exclusive servicing by United Wholesale Mortgage ensures borrower solicitation protection.
- Flexible Options: Fixed-rate, ARM, and interest-only programs for diverse needs.
- Seamless Process: Fast online application and expert guidance in Homer or Anchorage.
Apply for Your Jumbo Loan Today
Ready to finance a luxury home in Wasilla, Anchorage, Palmer, or Homer? Premier Mortgage offers jumbo loans up to $3M with competitive rates. Apply Online or call (907) 841-1600 for a free consultation. Build your Alaska dream today!
Disclaimer: These materials are not from HUD, VA, FHA, or USDA and were not approved by any government agency. Premier Mortgage is not affiliated with any government entity. Refinancing may result in higher finance charges over the loan term.
