Alaska Reverse Mortgage Information and Facts

1. Census Data Relevant to the Alaska Reverse Mortgage Market. It is helpful to understand the demographic make-up of Alaska's reverse mortgage eligible population. The following information comes from the US Census Bureau's 2005 American Community Survey.

The Census Bureau projects the senior citizen population in Alaska will change as follows in the years ahead:

2. Alaska's Home Value Growth. Home price increases are an important factor in the reverse mortgage decision. The information below comes from the quarterly Housing Price Index (HPI) published by the Office of Federal Housing Enterprise Oversight (OFHEO). These figures indicate the average percentage gain in value for homes in Alaska for the most recent 1-year and 5-year periods and, also, how the HPI rankings for Alaska compare to other states. Clearly, senior homeowners in areas with strong home price appreciation and substantial accumulated home equity are more apt to consider a reverse mortgage as a supplemental source of retirement income. Figures are updated quarterly (most recent update made 2/28/08 reporting 4th Quarter 2007 results).

3. Section HECM Loan Limits for Alaska. The federally-insured Home Equity Conversion Mortgage (HECM) program has limits on the size of loan that can be insured. These are known as "203b limits" and are set by HUD for each county in each state. Click on the link below for a list of current 203b Limits for each Alaska county.

County	HECM Limit	Last Revised
JUNEAU	303,050	20070101
DENALI	240,264	20080101
KETCHIKAN GAT	200,160	20060101
MATANUSKA-SUS	263,600	20071123
FAIRBANKS NOR	240,350	20080101
KODIAK ISLAND	242,250	20070628
NORTHWEST ARC	200,160	20080305
VALDEZ-CORDOV	200,160	20080305
NOME	200,160	20080305
SOUTHEAST FAI	200,160	20080305
NORTH SLOPE	200,160	20080305
WADE HAMPTON	200,160	20080305
ALEUTIANS WES	200,160	20080305
ALEUTIANS EAS	200,160	20080305
HAINES	200,160	20080305
BRISTOL BAY	200,160	20080305
BETHEL	200,160	20080305
LAKE AND PENI	200,160	20080305
YAKUTAT CITY	240,264	20080101
KENAI PENINSU	200,160	20080305
DILLINGHAM	200,160	20080305
PRINCE OF WAL	200,160	20080305
ANCHORAGE	263,600	20071123
SKAGWAY-HOONA	200,160	20080305
YUKON-KOYUKUK	200,160	20080305
WRANGELL-PETE	200,160	20080305
SITKA	327,750	20080101

4. Reverse Mortgage Loan Activity in Alaska. Since September 2001, a total of 209 HECM reverse mortgages have been endorsed by HUD Offices located in Alaska. Alaska reverse mortgage endorsements represent 0.1% of the total 361,591 reverse mortgages originated throughout the United States during this timespan.

Over the past few years, the volume of reverse mortgage originations has grown in Alaska as well as the rest of the country. Following are HECM reverse mortgage statisitics for the period from September 2001 up to the current month (Oct-2008). The first chart shows the distribution of HECM loan originations by Alaska HUD Office region and the second chart shows year-to-year HECM loan growth. Further information on HECM loan activity can be found using the HECM Data Tool.

5. Alaska Reverse Mortgage Lenders. So, who are Alaska's top reverse mortgage lenders? The following table shows Alaska's top 25 originators of HUD HECM loans thus far for calendar year 2008:

The table below provides a longer term view of Alaska's top 25 lenders looking at the period from September 2001 up to the current month (Oct-2008). For a complete listing of Alaska reverse mortgage lenders, use this Alaska reverse mortgage lender directory.

ATTENTION REVERSE MORTGAGE LENDERS - if you are listed above as one of Alaska's top reverse mortgage lenders, you should consider turning your listing into a clickable hyperlink that will take visitors directly to your company's website. Your "live" link will appear for every state that you rank in the top 25 lenders. Reverse-Mortgage-Information.org is one of the leading sites on the web for seniors seeking independent information about reverse mortgages. For more information, contact us .