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Anchorage

Current Mortgage Rates in Anchorage, Alaska

Compare mortgage rates and fees for leading lenders in Anchorage, AK. Review free, personalized mortgage rates based on your specifc loan amount, program and other factors. Easily compare APRs, closing costs and monthly payments to find the lender offering the best mortgage rates in Anchorage.

We recommend that you contact at least five lenders as shopping multiple lenders is the best way to save money on your mortgage in Anchorage. Plus, shopping lenders is free and there is no obligation.

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Mortgage Rates in Anchorage, AK as of July 16, 2020
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Data provided by Informa Research Services. Payments do not include amounts for taxes and insurance premiums. Click for more information on rates and product details.
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How Do Today's Anchorage, AK Mortgage Rates Compare?

July 16, 2020

The current average rate for a 30 year fixed rate mortgage in Anchorage 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%

Mortgage Program
Today's
Anchorage, AK Rates
National
Average
Comparison
30 Year Fixed Rate
A.AAA%
3.650%
15 Year Fixed Rate
B.BBB%
3.090%
5/1 Adjustable Rate Mortgage
C.CCC%
3.390%

How Affordable is Housing in Anchorage, Alaska?

Below we provide helpful information on the real estate market, home prices and housing affordability in Anchorage. Understand how much you need to earn to afford a home in Anchorage, including the mortgage you need to qualify for. Review the monthy payment so you can determine if owning a house in Anchorage fits your budget. This information is based on proprietary analysis you can only find on FREEandCLEAR and we offer it to help you decide if living in Anchorage is right for you.

The median home value for Anchorage, AK is $334,131

Based on current mortgage rates and a 10% down payment, you need to make $60,135 per year to buy the median priced home in Anchorage

With this income, you could qualify for a $300,718 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 Anchorage is $1,393

The median household income for Anchorage, AK is $86,766

Based on this income, you can afford a home valued at approximately $482,105

The home price you can afford to buy based on household income in Anchorage is 144% of the median home value which means housing prices are average. Anchorage ranks 25 out of 29 counties in Alaska and 2,603 out of 3,142 counties in the United States for housing affordability.

According to the FREEandCLEAR Housing Affordability Index, the housing market in Anchorage, AK is average

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Loan Limits for Anchorage, Alaska

Mortgage limits affect your loan terms, mortgage program eligibility and what price home you can afford. Review the loan limits for Anchorage below.

Conforming loan limits for Anchorage, AK

1 unit: $765,600
2 units: $980,325
3 units: $1,184,925
4 units: $1,472,550

FHA loan limits for Anchorage, AK

1 unit: $411,700
2 units: $527,050
3 units: $637,050
4 units: $791,750

VA loan limits for Anchorage, AK

1 unit: $765,600

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