Alaska Mortgage and Refinance Information

Current mortgage rates in Alaska

As of Thursday, December 04, 2025, current mortgage interest rates in Alaska are 6.28% for a 30-year fixed mortgage and 5.68% for a 15-year fixed mortgage.

In 2026, the conforming mortgage loan limit for a single-family home in the state is $1,249,125. That’s far higher than in most states, where the limit stands at $832,750. Likewise, single-family limits for Federal Housing Administration (FHA) loans in the state vary by county in 2025, from $524,255 to as high as $1,209,750.

Refinance rates in Alaska

When it comes time to refinance your mortgage in Alaska, remember you’re not required to work with the same lender who provided the initial loan. In fact, it’s important to take the time to shop around and do your research to make sure you’re getting the best rates and loan terms possible. There are many private lenders and mortgage companies that provide refinancing options.

In addition, the Alaska Housing Finance Corporation (AHFC), the state’s housing finance authority, offers its own refinancing programs:

• The Streamline Refinance for existing Alaska Housing borrowers doesn’t require an appraisal or (in most cases) credit screening. It also doesn’t require occupying the home as the owner. (However, the original loan must have been made to an owner occupant.)
• There’s also a refinance option for those who did not purchase their home with an Alaska Housing program. This program can be used to obtain better loan terms or to provide the cash needed for renovations or home improvements.

National mortgage rates by loan type

If you’d like to see how mortgage rates in Alaska compare to U.S. averages, here’s a look at the current national average rates for various loan types:

Alaska housing market statistics and trends

The median sales price in Alaska is higher than the national median, and the housing market has cooled in The Last Frontier over the past year. According to ATTOM data, the number of homes sold in Alaska dropped 40% in September 2025, compared to the previous year, and the number of purchase loans originated dropped by a whopping 56.2% year over year.

• Median home sales price, Oct. 2025: $414,141
• Median home value, Oct. 2025: $410,559
• Median down payment, Sept. 2025: $42,720
• Homeownership rate, Q2 2025: 66.0%

Sources: ATTOM, U.S. Census Bureau

Mortgage options in Alaska

• 3% down payment mortgages: These are conventional loans backed by Fannie Mae and Freddie Mac, requiring only 3% down with a minimum credit score of 620 (for Conventional 97 and HomeReady loans) to 660 (for a HomePossible loan). Note: Both HomeReady and HomePossible loans have an income limit of 80% of the area median income (AMI) where you’re purchasing.
• FHA loan: FHA loans are government-insured loans for homebuyers with lower credit scores. You can get an FHA loan with a credit score of 580 and just 3.5% down. FHA loans are insured by the Federal Housing Administration.
• VA loans: VA loans are offered to qualifying active-duty military, veterans and their spouses. These loans are guaranteed by the U.S. Department of Veterans Affairs (VA) and don’t require a down payment.
• USDA loans: Buyers in rural areas might be able to take advantage of a no-down payment loan guaranteed by the U.S. Department of Agriculture (USDA). Along with buying in a specific rural area, as determined by the USDA, your income must be below area-specific limits to qualify.

First-time homebuyer programs in Alaska

AHFC, also known as Alaska Housing, offers programs that can be helpful to first-time homebuyers. In order to qualify as a first-time homebuyer, you can’t have owned a primary residence in the past three years. Here’s an overview of some of the agency’s programs:

First Home

The First Home mortgage program is aimed at first-time buyers with higher incomes and offers reduced interest rates.

First Home Limited

Similar to First Home, the First Home Limited mortgage program provides lower interest rates to first-time buyers, but you must meet income limits and purchase price limits to qualify. The first-time buyer requirement can be waived if the purchase property is located in a targeted area, which are locations that have higher income and purchase price limits.

Additional Alaska mortgage resources

• Alaska first-time homebuyer assistance programs
• Alaska conforming and FHA loan limits by county
• Best homeowners insurance in Alaska