Alaska conventional mortgage: limits, down payment math and the state rules
Conforming limit $1,249,125, median about $370,000, property tax about 1.04%: those three figures decide most of what a conventional mortgage costs in Alaska. Below, the down payment and monthly numbers at 3%, 5%, 10% and 20% down, the month PMI can end, and the state rules a conventional borrower here should know.
| Conforming limit (2026, one unit) | $1,249,125 — statewide high-cost ceiling |
|---|---|
| Median home price (approx.) | $370,000 — statewide order of magnitude |
| 20% down on the median | $74,000 down, loan $296,000, about $1,871/month P&I at 6.5% |
| 5% down on the median | $18,500 down, loan $351,500, about $2,222/month P&I + about $220 PMI |
| PMI ends (5% down, scheduled payments) | request at 80% after about 10 years and 4 months, automatic at 78% after about 11 years and 3 months |
| Property tax (effective) | about 1.04% — roughly $3,848 a year on the median |
| Closing practice | Title company closing state |
Loan limits: the Alaska picture
A conventional loan is conforming when it fits Fannie Mae and Freddie Mac’s limit and their guidelines; in Alaska that limit is $1,249,125 for a one-unit home in 2026. With 20% down, a purchase up to about $1,561,406 stays conforming; with 5% down, up to about $1,314,868. The state’s $370,000 median leaves ample room, so a typical purchase here is conforming unless the buyer is in a premium neighborhood. Every Alaska county is in the table below; see conforming loan limits and jumbo loans.
County-level loan limits in Alaska for 2026
Because the limit follows the county line, the same Alaska price can be conforming on one side and jumbo on the other. 30 of 30 counties are high-cost in 2026 (in bold), with Aleutians East Borough, Aleutians West Census Area, Anchorage Municipality and 27 more at $1,249,125; the rest use $832,750. Multi-unit limits are shown for each county.
| County | 1 unit | 2 units | 3 units | 4 units |
|---|---|---|---|---|
| Aleutians East Borough | $1,249,125 | $1,599,375 | $1,933,200 | $2,402,625 |
| Aleutians West Census Area | $1,249,125 | $1,599,375 | $1,933,200 | $2,402,625 |
| Anchorage Municipality | $1,249,125 | $1,599,375 | $1,933,200 | $2,402,625 |
| Bethel Census Area | $1,249,125 | $1,599,375 | $1,933,200 | $2,402,625 |
| Bristol Bay Borough | $1,249,125 | $1,599,375 | $1,933,200 | $2,402,625 |
| Chugach Census Area | $1,249,125 | $1,599,375 | $1,933,200 | $2,402,625 |
| Copper River Census Area | $1,249,125 | $1,599,375 | $1,933,200 | $2,402,625 |
| Denali Borough | $1,249,125 | $1,599,375 | $1,933,200 | $2,402,625 |
| Dillingham Census Area | $1,249,125 | $1,599,375 | $1,933,200 | $2,402,625 |
| Fairbanks North Star Borough | $1,249,125 | $1,599,375 | $1,933,200 | $2,402,625 |
| Haines Borough | $1,249,125 | $1,599,375 | $1,933,200 | $2,402,625 |
| Hoonah-Angoon Census Area | $1,249,125 | $1,599,375 | $1,933,200 | $2,402,625 |
| Juneau City and Borough | $1,249,125 | $1,599,375 | $1,933,200 | $2,402,625 |
| Kenai Peninsula Borough | $1,249,125 | $1,599,375 | $1,933,200 | $2,402,625 |
| Ketchikan Gateway Borough | $1,249,125 | $1,599,375 | $1,933,200 | $2,402,625 |
| Kodiak Island Borough | $1,249,125 | $1,599,375 | $1,933,200 | $2,402,625 |
| Kusilvak Census Area | $1,249,125 | $1,599,375 | $1,933,200 | $2,402,625 |
| Lake and Peninsula Borough | $1,249,125 | $1,599,375 | $1,933,200 | $2,402,625 |
| Matanuska-Susitna Borough | $1,249,125 | $1,599,375 | $1,933,200 | $2,402,625 |
| Nome Census Area | $1,249,125 | $1,599,375 | $1,933,200 | $2,402,625 |
| North Slope Borough | $1,249,125 | $1,599,375 | $1,933,200 | $2,402,625 |
| Northwest Arctic Borough | $1,249,125 | $1,599,375 | $1,933,200 | $2,402,625 |
| Petersburg Census Area | $1,249,125 | $1,599,375 | $1,933,200 | $2,402,625 |
| Prince of Wales-Hyder Census Area | $1,249,125 | $1,599,375 | $1,933,200 | $2,402,625 |
| Sitka City and Borough | $1,249,125 | $1,599,375 | $1,933,200 | $2,402,625 |
| Skagway Municipality | $1,249,125 | $1,599,375 | $1,933,200 | $2,402,625 |
| Southeast Fairbanks Census Area | $1,249,125 | $1,599,375 | $1,933,200 | $2,402,625 |
| Wrangell City and Borough | $1,249,125 | $1,599,375 | $1,933,200 | $2,402,625 |
| Yakutat City and Borough | $1,249,125 | $1,599,375 | $1,933,200 | $2,402,625 |
| Yukon-Koyukuk Census Area | $1,249,125 | $1,599,375 | $1,933,200 | $2,402,625 |
Source: FHFA, Conforming Loan Limit Values for 2026 (county list, mortgages acquired in calendar year 2026). Limits are for Fannie Mae and Freddie Mac loans; FHA and VA use their own county figures.
Monthly cost on a $370,000 Alaska home
Illustrative 6.5% 30-year fixed rate, principal and interest only; mortgage insurance at typical market rates for each down payment (it varies with credit score); property tax at the state’s approximate 1.04% effective rate. Homeowners insurance and any HOA come on top. None of it is an offer.
| Down payment | Cash down | Loan | P&I | PMI (est.) | Property tax | Monthly total |
|---|---|---|---|---|---|---|
| 3% | $11,100 | $358,900 | $2,268 | $269 | $321 | $2,858 |
| 5% | $18,500 | $351,500 | $2,222 | $220 | $321 | $2,763 |
| 10% | $37,000 | $333,000 | $2,105 | $139 | $321 | $2,565 |
| 20% | $74,000 | $296,000 | $1,871 | — | $321 | $2,192 |
The 3% row assumes a program such as HomeReady or Home Possible; income limits apply. Compare with FHA at 3.5% down on the FHA vs conventional guide.
When PMI ends in Alaska
Under the Homeowners Protection Act, the 80% request point and the 78% automatic point are measured against the original value. The scheduled payments on the $351,500 5% down loan reach 80% after about 10 years and 4 months, on the $333,000 10% down loan after about 7 years and 11 months. Fannie Mae and Freddie Mac servicers also cancel on current value — typically 75% LTV after two years or 80% after five — which in a rising Alaska market can come sooner.
The Alaska closing: costs and who runs it
Alaska closings are handled by title companies through their escrow departments; no attorney is required to conduct the settlement or prepare the deed of trust, though some buyers hire one to review documents. Alaska is a dry-funding state in practice: the title company records the deed of trust in the state Recorder’s Office and disburses once the lender releases funds, sometimes a day or two after signing. Because Alaska has no counties, documents are recorded in one of the state’s recording districts.
Alaska has no mortgage recording tax, no intangible tax, and no real estate transfer tax; the only charge at recording is the state Recorder’s Office fee, assessed per document and per page. Borrowers in Alaska therefore avoid the note-based taxes found in Florida or New York. The recorder is part of the Department of Natural Resources, not a local clerk. Alaska has no state real estate transfer tax and no mortgage tax; recording fees are modest, which keeps government closing costs among the lowest in the country.
Without transfer taxes, Alaska closing costs are driven by lender fees, title and escrow, and prepaids; a working budget is 2% to 3% of the price, more in remote areas where appraisals cost more.
Alaska rules that touch a conventional loan
Prepayment. Alaska does not impose a blanket statutory ban on prepayment penalties for residential mortgages; the Alaska Secure and Fair Enforcement for Mortgage Licensing Act (AS 06.60) requires licensees to disclose loan terms accurately and lists prohibited practices rather than fixing a penalty cap. Fannie Mae and Freddie Mac do not buy loans with prepayment penalties, so a conforming loan will not carry one.
Spouses and title. Alaska is a separate-property state by default but is the only state with an opt-in community property regime: spouses may sign a community property agreement or create a community property trust under the Alaska Community Property Act (AS 34.77).
Homestead. Alaska’s homestead exemption (AS 09.38.010) protects a fixed amount of equity in the principal residence that the Department of Labor adjusts by regulation for inflation — the figure has stood in the tens of thousands of dollars (around $72,900 under the most recently published adjustment; confirm the current amount).
The complete state layer — licensing, predatory-lending limits, disclosures, foreclosure — is on mortgage laws in Alaska.
Frequently asked questions
What is the conforming loan limit in Alaska for 2026?
Alaska is a statutory high-cost area, so the 2026 conforming limit for a one-unit home is the ceiling of $1,249,125 statewide (150% of the $832,750 baseline). Above that, the loan is jumbo and follows lender rules rather than Fannie Mae and Freddie Mac guidelines.
When can I cancel PMI on a conventional loan in Alaska?
The request point is 80% of the original value, the automatic point 78% — federal rules, identical in Alaska. With 5% down on the state’s $370,000 median at 6.5%, the amortization schedule alone gets you to 80% in roughly 10 years and 4 months; with 10% down, in about 7 years and 11 months. Paying extra principal shortens both.
Does Alaska add anything to a conventional loan’s closing costs?
Alaska has no mortgage recording tax, no intangible tax, and no real estate transfer tax; the only charge at recording is the state Recorder’s Office fee, assessed per document and per page. Alaska has no state real estate transfer tax and no mortgage tax; recording fees are modest, which keeps government closing costs among the lowest in the country. Without transfer taxes, Alaska closing costs are driven by lender fees, title and escrow, and prepaids; a working budget is 2% to 3% of the price, more in remote areas where appraisals cost more.
Check it at the source (Alaska)
- Alaska Housing Finance Corporation (AHFC): state housing finance agency, for current programs and income limits
- Alaska Division of Banking and Securities: licenses mortgage lenders and brokers and takes complaints
- NMLS Consumer Access: check any lender’s or loan officer’s license
- FHFA conforming loan limit files: the county limits shown on this page
Links checked September 22, 2026. Researched and edited by Clément Lacaille (Tech-Bharat); how we research.
Sources
Related: Mortgage points and rate buydowns: when paying for a lower rate pays off, Cash-out refinance: limits, costs and when it is the wrong tool, Rate-and-term refinance: when it pays, how to compute the break-even, DSCR loans vs conventional for investment property: qualify on rent or on income. First home in Alaska: programs and assistance. Hub: Conventional loan.