Compare mortgage rates and closing costs for leading lenders in Alaska. Review free, personalized mortgage rates for Alaska based on your specifc loan amount, program and other factors. Easily compare APRs, fees and monthly payments to find the lender offering the best mortgage terms.
We recommend that you contact at least five lenders as shopping multiple lenders is the best way to save money on your mortgage in Alaska. Plus, shopping lenders is free and there is no obligation.
September 19, 2020
The current average rate for a 30 year fixed rate mortgage in Alaska is A.AAA%, the rate for a 15 year fixed rate mortgage is B.BBB% and the rate for a 5/1 adjustable rate mortgage (ARM) is C.CCC%
Below we offer valuable insights on the housing market and real estate prices in Alaska. Understand how much you need to make to buy a house in Alaska, including the mortgage you need. Review the monthy loan payment so you can determine if home ownership in Alaska is affordable for you. We provide this helpful information to help you decide if living in Alaska is right for you.
The median home value for Alaska is $286,642
Based on current mortgage rates and a 10% down payment, the income required to buy the median priced home in Alaska is $51,588
With this income, you could qualify for a $257,978 mortgage, assuming your monthly debt expense is reasonable
Based on this loan amount, the monthly mortgage payment required to buy the median priced home in Alaska is $1,195
The median household income for Alaska is $79,773
Based on this income, you can afford a home valued at approximately $443,250
The home price you can afford to buy based on household income in Alaska is 155% of the median home value which means housing prices are average. Alaska ranks 22 out of 50 states for housing affordability.
According to the FREEandCLEAR Housing Affordability Index, the real estate market in Alaska is average