Mortgage Calculator Alaska 2026: Payment, Property Tax & PMI
This mortgage calculator for Alaska estimates your full monthly payment — principal & interest, local property tax, homeowners insurance and PMI. Alaska has no real estate transfer tax. Enter your own rate; everything is calculated privately in your browser.
A mortgage calculator for Alaska estimates the full monthly cost of an Alaska home loan: principal and interest from standard amortization, plus property tax, homeowners insurance and private mortgage insurance (PMI) when you put down less than 20%. Alaska has no state or local real estate transfer tax, so the one-time cost of buying is mainly lender, title and recording charges.
How the Mortgage Calculator Alaska Formula Works (Worked Example)
Principal and interest use the standard amortization formula M = P × r(1+r)n ÷ ((1+r)n − 1), where P is the loan amount, r the monthly rate (annual rate ÷ 12) and n the number of payments. Property tax is the home price × your local rate ÷ 12, insurance is your annual premium ÷ 12, and PMI is the loan amount × your PMI rate ÷ 12. Example: a $370,000 Alaska home, 10% down, 30-year fixed at a user-entered 6.5% (click Load Example above to reproduce it).
| Item | Inputs | Monthly |
|---|---|---|
| Principal & interest | $333,000 loan, 6.5%, 360 payments | $2,104.79 |
| Property tax | 0.94% of $370,000 ($3,478/yr) | $289.83 |
| Homeowners insurance | $1,350/yr (example — use your quote) | $112.50 |
| PMI | 0.6% of $333,000 ($1,998/yr) | $166.50 |
| Total monthly payment | $2,673.62 | |
| Real estate transfer tax (one-time) | Alaska has none | $0.00 |
Over 30 years this loan pays about $424,720 in interest. Your rate is an input, not an assumption — check the current weekly national average in Freddie Mac’s Primary Mortgage Market Survey and compare lender Loan Estimates.
Alaska Property Tax Rate and Your Monthly Payment
Alaska has no statewide property tax. Only boroughs and cities levy it — about two dozen municipalities, according to the Alaska Office of the State Assessor — so some areas charge nothing while Anchorage, Fairbanks and Juneau homeowners pay local mill rates. The Tax Foundation (Property Taxes by State and County, 2026 edition, from Census American Community Survey data for 2020–2024) puts the statewide effective rate at about 0.94% of owner-occupied home value. State law exempts the first $150,000 of assessed value for homeowners 65 and older and qualifying disabled veterans. Enter the rate for your borough or city for the best estimate.
| Local rate | Annual tax on $370,000 | Added to monthly payment |
|---|---|---|
| 0.71% | $2,627 | $218.92 |
| 0.94% (statewide default) | $3,478 | $289.83 |
| 1.41% | $5,217 | $434.75 |
Alaska Closing Costs: No Transfer Tax
Alaska is one of the states with no real estate transfer tax at the state or local level, so neither buyer nor seller pays a percentage-of-price tax when a home changes hands. Your one-time costs are the down payment plus lender, title, escrow and recording charges, which are listed on your Loan Estimate.
| Alaska item | Amount | Usually paid by |
|---|---|---|
| Real estate transfer tax | None — $0 | — |
| Escrow deposits for tax and insurance | Set by your lender — see your Loan Estimate | Buyer |
| Lender, appraisal and title charges | Vary by lender and title company — compare Loan Estimates | Negotiable |
Some costs are negotiable, and sellers sometimes cover part of a buyer’s closing costs as a concession.
How Alaska Mortgage Rates Affect Your Payment
Rates in Alaska follow national mortgage markets and vary by lender, credit score, down payment and loan type. The 6.85% default is an example rate, not a quoted average. On a $370,000 home with 20% down, it produces a monthly principal and interest payment of about $1,940. A 0.25% rate increase adds roughly $50 to that payment, so shopping multiple lenders can save thousands over the life of the loan.
Adjustable-rate mortgages (ARMs) often start lower but carry rate-reset risk. FHA loans (3.5% down), VA loans (0% down for eligible veterans) and USDA loans (0% down in eligible rural areas) are alternatives to a conventional loan in Alaska.
First-Time Buyer Programs in Alaska
Alaska Housing Finance Corporation (AHFC) offers first-time homebuyer loans and a Veterans Mortgage Program. Check AHFC for current eligibility, income and price limits.
FHA loans are available nationwide with 3.5% down for borrowers with a 580+ credit score. VA loans require no down payment and no PMI for qualified veterans and service members.
If your down payment is below 20%, PMI on a $333,000 loan adds about $167/month at a 0.6% annual rate. The Urban Institute puts typical PMI at roughly 0.46%–1.5% of the loan per year depending on credit score. PMI can be removed once your loan-to-value ratio reaches 80%, so extra payments accelerate the timeline to dropping PMI.
Last updated: October 2026. Estimates only — confirm figures with your lender, title company and local tax office.
Frequently Asked Questions
What is the average mortgage rate in Alaska in 2026?
Alaska mortgage rates track national averages and change weekly. Check the Freddie Mac Primary Mortgage Market Survey for the current 30-year fixed average, then compare quotes from several lenders - your rate depends on credit score, down payment and loan type.
What is the average monthly mortgage payment in Alaska?
It depends on price, rate and local taxes. As an example, a $370,000 home with 20% down at 6.85% comes to about $2,342 a month in principal, interest, taxes and insurance, assuming a 0.94% property tax rate and $1,350 a year for insurance. Enter your own numbers above.
Do I need PMI in Alaska?
Yes — if your down payment is less than 20%, lenders in Alaska require Private Mortgage Insurance (PMI) on conventional loans. The Urban Institute puts typical PMI at about 0.46%–1.5% of the loan amount per year, depending on credit score. PMI is removed once you reach 20% equity.
What is the average home price in Alaska?
Home prices change every month and vary widely by city and county, so this page does not quote a statewide median. The $370,000 default in the calculator is only an example — enter the price of the home you are considering.
What is the property tax rate in Alaska?
Alaska has no state property tax; only boroughs and cities levy one. The Tax Foundation’s 2026 edition, using Census data for 2020-2024, puts the statewide effective rate at about 0.94% - roughly $3,478 a year on a $370,000 home - but some areas charge nothing, so use your local rate.
Does Alaska have a real estate transfer tax?
No. Alaska has no state or local real estate transfer tax, so buyers and sellers pay no percentage-of-price tax when a home is sold. Closing costs are mainly lender, title, escrow and recording charges, which appear on your Loan Estimate.
What is the monthly payment on a $370,000 house in Alaska?
With 10% down and a 30-year fixed loan at 6.5%, principal and interest is about $2,105 a month. Adding 0.94% property tax ($290), $1,350 a year insurance ($113) and 0.6% PMI ($167) brings the total to about $2,674 a month.