Alaska Mortgage Calculator
Calculate your Alaska mortgage payment with PMI, property tax, and closing costs.
Useful for home buyers in Anchorage, Fairbanks, Juneau, Wasilla, Kenai, and all of Alaska.
Useful for home buyers in Anchorage, Fairbanks, Juneau, Wasilla, Kenai, and all of Alaska.
Why use an Alaska Mortgage Calculator?
Alaska has unique property tax rates and housing markets. This calculator estimates your payment, PMI, property tax, and closing costs.
Alaska has unique property tax rates and housing markets. This calculator estimates your payment, PMI, property tax, and closing costs.
Result
Enter your details to see the estimated payment here.
Related Calculators
Alaska Property Tax: The average effective property tax rate is about 1.19%. Closing costs in AK are typically 2-5% of the purchase price.
Average Home Prices in Major Alaska Cities (2024)
| City | Detached | Semi-Detached | Townhouse | Condo |
|---|---|---|---|---|
| Anchorage | $425,000 | $375,000 | $325,000 | $275,000 |
| Fairbanks | $350,000 | $325,000 | $300,000 | $225,000 |
| Juneau | $475,000 | $425,000 | $375,000 | $300,000 |
| Wasilla | $375,000 | $325,000 | $275,000 | $225,000 |
| Kenai | $325,000 | $300,000 | $275,000 | $200,000 |
Note: Prices are approximate averages for 2024 and may vary by neighborhood and property features.
How Mortgage Rules Work in Alaska
- Property Tax: Alaska's average effective property tax rate is about 1.19%. Property taxes are paid annually and may be included in your monthly payment.
- PMI (Private Mortgage Insurance): If your down payment is less than 20%, you must pay PMI, which is added to your monthly payment until you reach 20% equity.
- Closing Costs: Alaska's closing costs include title insurance, escrow fees, and other expenses. There are often additional costs due to Alaska's remote location.
Example: On a $350,000 home with 10% down in Anchorage, you pay PMI and property tax. Closing costs are typically 2-5% of the purchase price.
Frequently Asked Questions
Yes, Alaska has a property tax. The average effective rate is about 1.19% of the assessed value, but rates vary significantly by municipality. Some areas in Alaska have no property taxes.
PMI (Private Mortgage Insurance) is required when your down payment is less than 20%. It protects the lender and is added to your monthly payment until you reach 20% equity.
Closing costs in Alaska are typically 2-5% of the purchase price and include title insurance, escrow fees, and other expenses. Due to Alaska's remote location, there may be additional costs for services like inspections.