Mortgage Calculator MLcalc

Mortgage Calculator /With Taxes and PMI /Alaska

Alaska Mortgage Calculator

Set to Alaska’s own property tax rate of 1.06% and its median home price, so the payment below reflects what owning here actually costs — not a national average.

$
% ($75,400)
years
%
$/year
$/year
$/month
%
$/month
Amortization schedule
$2,365
Monthly payment
$1,922
Principal & interest
$333
Taxes
$110
Insurance
$0
HOA fees

Loan balance over time

Balance Principal paid $301,600 Interest paid $390,397
20262056
Total of 360 payments$851,477
Principal$301,600
Interest$390,397
Taxes$119,880
Insurance$39,600
HOA fees$0
P&I 81.3% Taxes 14.1% Insurance 4.7%
15- vs 30-year term at 6.58%
15-year
$2,641/mo P&I
$173,698 total interest
30-year · current
$1,922/mo P&I
$390,397 total interest
The 15-year term saves $216,699 in interest. Which term is right for you?

What these numbers come from

Median home value
$376,500
Median tax bill
$3,976
Effective tax rate
1.06%
Rank of 51
16th highest

Alaska taxes property at about 1.06% of value against 0.89% nationally. On a $377,000 home that is $53 a month more than the same house would cost in taxes at the national rate. Rates are set by counties, cities and school districts, so your own bill will differ from the state median — put your actual figure in the property tax field and the payment updates.

Tax and home value figures: U.S. Census Bureau, American Community Survey 2024 1-year estimates. Insurance is estimated at 0.35% of home value per year — there is no comparable public per-state dataset, so treat it as a placeholder and replace it with your own quote. The interest rate is the national Freddie Mac 30-year average of 6.58%; this site does not publish state-level rate quotes.

Monthly cost across Alaska home prices

20% down, 30-year fixed at 6.58%, with Alaska property tax of 1.06% and estimated insurance.

Home price Loan P&I Tax/mo Full payment
$226,000 $180,800 $1,152 $200 $1,418
$301,000 $240,800 $1,535 $266 $1,888
$377,000 median $301,600 $1,922 $333 $2,365
$471,000 $376,800 $2,401 $416 $2,955
$565,000 $452,000 $2,881 $499 $3,545

The gap between the P&I column and the last one is what a mortgage quote leaves out. In Alaska taxes alone add $333 a month on a median-priced home.

Amortization schedule

Date Principal Interest Tax, Ins. & HOA Balance
Aug $268 $1,654 $443 $301,332
Sep $270 $1,652 $443 $301,062
Oct $271 $1,651 $443 $300,790
Nov $273 $1,649 $443 $300,517
Dec $274 $1,648 $443 $300,243
2026 $1,357 $8,254 $2,215 $300,243
Jan $276 $1,646 $443 $299,967
Feb $277 $1,645 $443 $299,690
Mar $279 $1,643 $443 $299,411
Apr $280 $1,642 $443 $299,130
May $282 $1,640 $443 $298,848
Jun $284 $1,639 $443 $298,565

Refinancing in Alaska

The arithmetic is the same everywhere: refinancing pays off when the monthly saving clears the closing costs before you sell or refinance again. What differs by state is the cost of getting there — recording fees, transfer and mortgage taxes, and whether an existing tax assessment survives the new loan.

Work the break-even with the refinance calculator, or check this week’s national average rates.

Alaska home loans in detail

Alaska Mortgage Overview

Alaska's nickname is the 'Last Frontier' because it was the last state to join the union. It's also unique because it has one of the highest conforming loan limits in the United States, with a limit of $1,249,125 in 2026 and FHA loan limits from $541,287 up to $1,873,687 depending on the county.

The median household income in Alaska is $77,000 and the average family has 2.8 members.

If you're buying a home in Alaska, there are many loan options to help you:

Alaska FHA loans

As we said above, the FHA loan limits are much higher in Alaska than most other states. Borrowers can get flexible underwriting guidelines and only need a 580 credit score and a 3.5 percent down payment. It's a great program for first-time homebuyers or subsequent homebuyers who don't have a lot of money to put down.

Alaska VA loans

If you served our country for at least 90 days during wartime or 181 days during peacetime, the VA loan is a good option for you. Borrowers don't need a down payment (but you can make one) and you don't need perfect credit. You can get by with a 620 credit score and debt-to-income ratio as high as 50 percent and get financing.

Alaska USDA loans

If you don't mind living in less populated areas and you make less than 115% of the average income for your area, the USDA loan may be a good fit. The program is for borrowers who don't qualify for any other financing and will use the home as their primary residence. You don't need a down payment for the USDA loan.

Alaska conventional loans

Borrowers with good credit (660+) and 3 percent to put down may get a conventional loan. These loans have the most attractive features and often save borrowers the most money if they qualify.

First-Time Homebuyer Programs in

Alaska

First Home Limited

The First Home Limited program is a low interest loan program for first-time homebuyers. Anyone who hasn't owned a home in three years and meets the income requirements (not make too much) may qualify for the low-interest loan program.

First Home

Borrowers who make too much money for First Home Limited or who want to buy a house that exceeds the First Home Limited program may apply for First Home, which also offers lower than average interest rates for first-time homebuyers.

Closing Cost Assistance

The Alaska Housing Finance Corp also offers a Closing Cost Assistance Loan. You must have at least a 640 credit score and may receive up to 4 percent of the loan balance to use toward your down payment and/or closing costs.

Alaska mortgage FAQ

How much is property tax on a home in Alaska?
Alaska homeowners pay an effective property tax rate of about 1.06 percent of home value — the 16th highest of the 50 states and DC. On the state's median home value of $376,500 that works out to roughly $3,996 a year, or $333 a month added to the mortgage payment. The figures come from the Census Bureau's American Community Survey 2024 1-year estimates; your own bill depends on the county and city rates where the home sits.
What is the monthly payment on a median-priced Alaska home?
At $377,000 with 20 percent down and the current 6.58 percent national 30-year fixed average, principal and interest come to about $1,922 a month. Adding Alaska property tax of roughly $333 a month and an estimated $110 of homeowner insurance brings the full payment to around $2,365.
What home loan options can buyers choose from in Alaska?
Buyers in Alaska can use FHA loans, which have higher loan limits than most states and need just a 580 credit score with 3.5 percent down, VA loans with no down payment and a 620 score for qualifying service members, USDA loans with zero down for buyers in less populated areas, and conventional loans for borrowers with 660 or better credit and 3 percent down.
What programs help first-time homebuyers in Alaska?
The Alaska Housing Finance Corporation offers First Home Limited, a low-interest loan for first-time buyers who meet income limits, and First Home for buyers whose income or home price exceeds those limits. Its Closing Cost Assistance Loan provides up to 4 percent of the loan balance toward your down payment or closing costs if you have at least a 640 credit score.
Can you buy a home in Alaska with no down payment?
Yes. Alaska VA loans require no down payment for eligible veterans and service members with roughly a 620 credit score, and USDA loans offer 100 percent financing to buyers earning less than 115 percent of their area's average income who purchase in rural areas. Other buyers can keep cash needs low with FHA at 3.5 percent down or conventional at 3 percent down.

Property tax in every state

Effective rate on owner-occupied value, highest bills first in each column.