How much down payment do I need to buy a house in Alaska?

You can buy a home in Alaska with as little as 0% down (VA/USDA), 3% down ($10,950 conventional), or 3.5% down ($12,775 FHA) on the median-priced home of $365,000.

What income do I need to buy a home in Alaska?

To afford the median-priced home in Alaska ($365,000) with a 30-year mortgage at 6.25%, you typically need a household income of approximately $90,990 per year (using the 28% rule). The median income in Alaska is $77,640.

What is the FHA loan limit in Alaska for 2026?

The FHA loan limit in Alaska for 2026 is $472,030. This means first-time buyers using FHA loans can finance up to this amount with just 3.5% down payment.

First-Time Home Buyer Alaska 2026

Q: What first-time home buyer programs are available in Alaska?

Alaska offers 2 major first-time buyer programs including AHFC First Home Program, AHFC Closing Cost Assistance. These programs provide grants, forgivable loans, and below-market rates to help with down payment and closing costs.

Your complete guide to buying your first home in Alaska. 2+ down payment assistance programs, FHA loans from 6.05%, and step-by-step guidance.

Median Price

$365,000

Min Down (FHA)

$12,775

DPA Programs

Best Rate

6.05%

Check My Alaska Eligibility

What First-Time Buyer Programs Are Available in Alaska?

Alaska offers 2 major first-time home buyer assistance programs. These include AHFC First Home Program, AHFC Closing Cost Assistance. Programs provide up to Rate reduction 0.5% in down payment assistance through grants, forgivable loans, and below-market interest rates.

How Much Do I Need to Buy in Alaska?

You can buy a home in Alaska with as little as $0 down. VA and USDA loans require zero down payment. FHA loans need just 3.5% ($$12,775), and conventional loans start at 3% ($$10,950) on the median price of $365,000.

Loan Type	Down Payment	$ Amount	Monthly P&I	Min Credit
VA Loan	0%	$0	$2,188	620
USDA Loan	0%	$0	$2,247	640
Conventional 3%	3%	$10,950	$2,180	620
FHA Loan	3.5%	$12,775	$2,123	580
Conventional 20%	20%	$73,000	$1,798	620

Alaska Down Payment Assistance Programs

AHFC First Home Program

Below-market rates for first-time buyers

Up to Rate reduction 0.5%low interest

AHFC Closing Cost Assistance

Help with closing costs for eligible buyers

Up to $7,500grant

5 Steps to Buy Your First Home in Alaska

To buy your first home in Alaska, start by checking your credit score, getting pre-approved, and researching DPA programs. The entire process typically takes 30-60 days from pre-approval to closing. Here's your step-by-step roadmap.

Check Your Credit & Finances

Review your credit score (aim for 620+), calculate your debt-to-income ratio, and save for closing costs. In Alaska, you may need as little as $12,775 for an FHA down payment.

Get Pre-Approved

Compare rates from at least 3 lenders. Current Alaska rates: 6.25% (30-year), 6.05% (FHA). Pre-approval shows sellers you're serious and locks your rate.

Apply for Alaska DPA Programs

Alaska has 2+ DPA programs. The AHFC First Home Program offers up to Rate reduction 0.5%. Apply early—funding can be limited.

House Hunt & Make an Offer

Popular cities in Alaska: Anchorage, Fairbanks, Juneau, Sitka, Wasilla. Median price is $365,000 (+3.2% YoY). Work with a local real estate agent who knows the market.

Close on Your New Home

Closing costs in Alaska typically run 2-5% of the purchase price ($10,950-$18,250). Some DPA programs also cover closing costs.

Start Your Alaska Home Buying Journey

Get pre-approved in minutes and see what you qualify for.

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Alaska First-Time Buyer FAQ

What first-time home buyer programs are available in Alaska?

Alaska offers 2 major programs: AHFC First Home Program, AHFC Closing Cost Assistance. These provide grants, forgivable loans, and below-market rates for down payment and closing cost assistance.