Current Alaska Mortgage and Refinance Rates
Mortgage interest rates currently average 6.03% for 30-year fixed loans and 5.13% for 15-year fixed loans. Current average rates are calculated using all conditional loan offers presented to consumers nationwide by LendingTree’s network partners over the past seven days for each combination of loan program, loan term and loan amount. Rates and other loan terms are subject to lender approval and not guaranteed. Not all consumers may qualify. See LendingTree’s Terms of Use for more details.
Refinance rates in Alaska
30-year FIXED
Current refinance rates are averaging:
6.39%
Current average rates are calculated using all conditional loan offers presented to consumers nationwide by LendingTree’s network partners over the past seven days for each combination of loan program, loan term and loan amount. Rates and other loan terms are subject to lender approval and not guaranteed. Not all consumers may qualify. See LendingTree’s Terms of Use for more details.15-year FIXED
Current refinance rates are averaging:
5.87%
Current average rates are calculated using all conditional loan offers presented to consumers nationwide by LendingTree’s network partners over the past seven days for each combination of loan program, loan term and loan amount. Rates and other loan terms are subject to lender approval and not guaranteed. Not all consumers may qualify. See LendingTree’s Terms of Use for more details.
- Rate-and-term refinances allow you to change either your interest rate, your loan term or both. Refinance rates are often slightly higher on average than purchase mortgage rates.
- Cash-out refinances give homeowners who can benefit from replacing their mortgage the chance to access a portion of their home equity at the same time. Because you’re taking out extra cash, you’ll usually pay a higher interest rate than you would with a rate-and-term refinance.
- Conventional refinances aren’t a part of a government loan program. It’s common for them to come with higher rates than government-backed refinances.
- FHA refinances, which are insured by the Federal Housing Administration (FHA), typically come with lower FHA rates than conventional loans.
- VA refinances are backed by the U.S. Department of Veterans Affairs (VA) and offer competitive VA interest rates and flexible terms to military borrowers eligible for a VA loan.
See whether refinancing makes sense for you using our mortgage refinance calculator.
What is the current mortgage rates forecast?
LendingTree’s mortgage interest rates forecast is for rates to remain around 6.0% in early 2026. The Federal Reserve made three rate cuts in 2025, but these did not have a strong effect on mortgage rates most of the year.
Home affordability and inflation are not expected to improve in the near future, so potential Alaskan homebuyers are encouraged to continue improving their financial qualifications to get the best rate and lowest monthly payment on their home loan.
How do I get the best mortgage rate for my Alaska home loan?
Getting the best mortgage rate is actually pretty simple. You just need to manipulate the factors determining mortgage rates that are within your control. Here are a few steps you can take today:
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Boost your credit
A higher credit score can unlock lower rate offers. You should aim for a 780 score or higher. -
Lower your debt-to-income (DTI) ratio
Your DTI ratio is a number that lenders use to evaluate how heavy of a debt load you carry. A lower DTI ratio tells lenders that you’re not a risky bet, so they frequently offer lower rates to those with low DTIs. You can bring down your DTI by increasing your income, paying off some debts or getting a cosigner. -
Buy a single-family, site-built home
Because lenders know that mortgage defaults are more common with certain housing types, they may charge higher rates if you buy a manufactured home, multifamily home, vacation home or investment property. -
Pay for mortgage points
Mortgage points give you a way to reduce, or “buy down” your interest rate. You’ll have to pay a fee — typically 1% of your loan amount — to reduce your rate by up to 0.25 percentage points, and you can purchase more points if you’d like to reduce it even more. -
Compare offers from multiple lenders
Before you settle on a lender, get loan estimates from three to five lenders and compare the loan terms they offer you. It’s a simple way to find the best deal and could save you thousands in interest charges over the life of your loan, according to LendingTree data.
Read more about our picks for the best mortgage lenders.
Once you’ve applied for a mortgage and received approval, it’s important to request that the lender give you a mortgage rate lock. This holds the interest rate you were quoted, so it won’t increase before you make it to closing.
Alaska home loan programs
First Home Limited
First Home Limited, offered by the Alaska Housing Finance Corporation (AHFC), is available to first-time homebuyers and qualified veterans, as well as people purchasing in targeted areas. The program provides low-interest-rate loans, which means more buying power for qualified Alaskans.
Who qualifies
Borrowers must:
- Be a first-time homebuyer or qualified military service member, or purchase in a targeted area
- Purchase a home priced at or below the program’s acquisition cost limits, which vary by county and home type
- Earn income within the program’s limits, which are different for targeted areas and non-targeted areas
Who qualifies as a first-time homebuyer?
- People who have never owned a home
- People who haven’t owned real estate in the last three years
Who is a qualified military service member?
Borrowers who:
- Retired or were released from duty without a dishonorable discharge, or
- Are in active duty but have completed their initial military obligation
- Haven’t used an AHFC program before
First Home
First-time homebuyers who earn too much to qualify for the First Home Limited program can still access a low-interest-rate home loan through this version of the program, which has no income limits. It also comes without any acquisition cost limits, which is helpful for borrowers who need a more expensive home or live in high-cost areas.
Who qualifies
Borrowers must:
- Be a first-time homebuyer
Interest Rate Reduction for Low-Income Borrowers
Designed specifically for low-income Alaskans, this program helps borrowers get into affordable mortgages by subsidizing their interest rates. The program can reduce your interest rate by 0.5% to 1% for the first $180,000 of your loan amount, depending on your family’s income level. Any funds above $180,000 will receive a different interest rate.
Who qualifies
Borrowers must:
- Not have owned a primary residence in the last three years and not own any property within 50 miles of the home purchased through the program
- Earn within the program’s income limits
- Take a homebuyer education class
Learn about different types of AK mortgage loans
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Alaska conventional loans
Conventional loans are a standard choice for borrowers with good credit scores and at least 3% in down payment funds. These loans have somewhat strict minimum requirements, however, so they’re not within reach for everyone. -
Alaska FHA loans
FHA loan requirements are a little more accessible, and allow you to qualify with a credit score as low as 500 if you make a 10% down payment. If your score is even stronger — at least a 580 — you can put down as little as 3.5%. -
Alaska VA loans
VA loan requirements give military borrowers low rates and benefits that aren’t available to civilians. Borrowers with full VA entitlement can purchase or refinance without making a down payment or paying for mortgage insurance. -
Alaska streamline refinances
come in two forms: FHA streamline refinance loans and VA interest rate reduction refinance loans (IRRRLs). They’re only for borrowers with an existing FHA or VA loan who want to refinance into a new loan of the same type. They’re called “streamline” because they come with less paperwork and take less time than other refinance types.