Current mortgage rates · week of July 9, 2026
| Week | 30-yr / 15-yr fixed |
| July 9, 2026 | 6.49% / 5.82% |
| July 2, 2026 | 6.43% / 5.79% |
| June 25, 2026 | 6.49% / 5.84% |
| June 18, 2026 | 6.47% / 5.81% |
| June 11, 2026 | 6.52% / 5.84% |
| June 4, 2026 | 6.48% / 5.79% |
| May 28, 2026 | 6.53% / 5.87% |
| May 21, 2026 | 6.51% / 5.85% |
U.S. weekly averages — Freddie Mac Primary Mortgage Market Survey via FRED.
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
- 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.