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Alaska Mortgage Rates

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Product Average Rate Change
30 Year Fixed
2.997% -0.041
20 Year Fixed
3.250% 0.000
15 Year Fixed
2.875% 0.000
Last updated: Mar 5, 2021
3.763% APR 30 Year Fixed FHA
$956 / month
Rate: 2.250%
Fees: $9,786
Lock: 30 days
Points: 1.513
View Details
SPONSORED
2.653% APR 30 Year Fixed VA
$956 / month
Rate: 2.250%
Fees: $13,662
Lock: 30 days
Points: 1.513
View Details
SPONSORED
3.047% APR 30 Year Fixed
$1,034 / month
Rate: 2.850%
Fees: $6,396
Lock: 30 days
Points: 1.907
View Details
SPONSORED
4.255% APR 30 Year Fixed FHA
$1,021 / month
Rate: 2.750%
Fees: $10,625
Lock: 45 days
Points: 2.000
View Details
3.763% APR 30 Year Fixed FHA
$956 / month
Rate: 2.250%
Fees: $9,786
Lock: 30 days
Points: 1.513
View Details
3.318% APR 30 Year Fixed VA
$1,038 / month
Rate: 2.875%
Fees: $14,500
Lock: 45 days
Points: 2.000
View Details
3.447% APR 30 Year Fixed
$1,089 / month
Rate: 3.250%
Fees: $6,250
Lock: 45 days
Points: 2.000
View Details
3.128% APR 30 Year Fixed
$1,053 / month
Rate: 2.990%
Fees: $4,425
Lock: 45 days
Points: 1.570
View Details
2.653% APR 30 Year Fixed VA
$956 / month
Rate: 2.250%
Fees: $13,662
Lock: 30 days
Points: 1.513
View Details
3.047% APR 30 Year Fixed
$1,034 / month
Rate: 2.850%
Fees: $6,396
Lock: 30 days
Points: 1.907
View Details
3.092% APR 30 Year Fixed
$1,038 / month
Rate: 2.875%
Fees: $7,550
Lock: 30 days
Points: 2.000
View Details
4.373% APR 30 Year Fixed FHA
$1,038 / month
Rate: 2.875%
Fees: $10,625
Lock: 45 days
Points: 2.000
View Details
3.318% APR 30 Year Fixed VA
$1,038 / month
Rate: 2.875%
Fees: $14,500
Lock: 45 days
Points: 2.000
View Details
3.573% APR 30 Year Fixed
$1,106 / month
Rate: 3.375%
Fees: $6,250
Lock: 45 days
Points: 2.000
View Details
3.116% APR 30 Year Fixed
$1,055 / month
Rate: 3.000%
Fees: $3,728
Lock: 60 days
Points: 1.491
View Details
2.746% APR 30 Year Fixed
$1,005 / month
Rate: 2.625%
Fees: $3,978
Lock: 45 days
Points: 1.591
View Details
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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 $822,375 in 2021 and FHA loan limits from $356,362 to $545,100 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.

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