Alaska Mortgage Rates and Home Buying Resources
Alaska is the biggest—and the most sparsely populated—state in the U.S., home to more than three million lakes and the world-famous, 1,161 mile Iditarod sled dog race. If you're looking for seclusion and natural beauty, Alaska is the state for you. While current AK mortgage rates depend on a variety of factors, many prospective homebuyers in Alaska are eligible for state-funded loan programs to help them secure low mortgage interest rates. 

The Alaska Housing Finance Corporation (AHFC) works with approved lenders to offer a variety of loan assistance programs. These programs, which assist owners of manufactured homes, teachers, seniors, veterans, and residents of very small communities, for example, have been designed to help qualified homebuyers in Alaska. Mortgage rates are highly competitive for those who qualify, and participants are offered a variety of financial incentives, such as zero down payment and financial help with closing costs. 

FHA Loans and Mortgage Rates in Alaska
An FHA loan is a good option for Alaska homebuyers on a budget—particularly first-time homebuyers, seniors, and those purchasing a "fixer-upper" property or a mobile home. FHA loans are insured by the Federal Housing Administration, which means your lender can offer you a competitive mortgage interest rate. FHA loans allow for low down payments and lower closing costs, and are typically available for Alaskans with credit problems. 

Alaska Mortgage Rates and Loans for Educators and Health Care Providers
In addition to other financial incentives for obtaining a mortgage in Alaska, if you're a full-time, qualified educator or health care provider, Alaska's Teachers' and Nurses' Housing Loan Program can be combined with a single-family loan program to provide 100 percent conventional financing for a home purchase—meaning no down payment. Full-time teachers, counselors, principals and vice-principals apply for this type of loan, as do full-time, licensed, registered nurses.

Educators also can apply for Alaska's Extra Credit Teacher Home Purchase Program, a financial assistance program that can help qualified home buyers with their home purchase and offers buyers forgivable interest.

Alaska offers programs similar to this to the disabled or caregivers of the disabled. 

Second Mortgage Program for Energy Conservation
In Alaska, mortgage borrowers have the opportunity to apply for a second mortgage via the Alaska Second Mortgage Program for Energy Conservation. The purpose of this program is to help Alaska homeowners finance energy-efficient home improvements. To receive a loan of up to $30,000 for these improvements, Alaska homeowners need to have their home audited by a certified energy rater and make recommended changes within a year of their closing date.