Estimate a monthly mortgage payment
This estimate uses the standard fixed-rate amortization formula for principal and interest, then adds the property taxes, homeowners insurance, HOA dues and mortgage insurance or annual fees you enter or that the loan type requires. It is an educational estimate, not a Loan Estimate, a pre-approval or a commitment to lend. Only a licensed mortgage loan originator can quote a rate or say what you qualify for.
A starting figure you can change, not a predicted sale price. Use our Alaska home value calculator or the Anchorage home value estimator if you are still sizing the price.
Conventional starting point is 5%, which is AHFC's published single-family conventional minimum. Fannie Mae HomeReady allows as little as 3% for borrowers who meet its income limits. PMI is typically required under 20% down.
FHA starting point is 3.5%, HUD's published minimum for borrowers with a credit score of 580 or higher.
VA-backed purchase loans can be made with no down payment. A down payment can lower the funding fee.
USDA Guaranteed Loans can finance 100% of the appraised value, plus the upfront guarantee fee. A down payment is optional.
Leave this blank until you have a quote from a lender. We do not publish mortgage rates, and any example is only so you can see the math.
Alaska property tax varies by borough, city and tax district. We do not fill in a mill rate. Look up the official sources below, or use a figure from a current tax bill, and enter it yourself.
Use a quote from an insurer. Premiums vary with the home, the deductible and the coverage.
FHA upfront MIP is 1.75% of the base loan amount (HUD Mortgagee Letter 2023-05). You can pay it at closing or add it to the loan.
The VA funding fee can be paid at closing or financed, unless you are exempt.
USDA allows the 1.00% upfront guarantee fee to be financed, which can bring the total loan to about 101% of value.
VA's purchase-loan funding fee (effective April 7, 2023) is 2.15% for a first use with less than 5% down, 1.5% with 5% or more down, and 1.25% with 10% or more down. After first use, the low-down-payment fee is 3.3%. Some Veterans are exempt, including those receiving VA compensation for a service-connected disability. Confirm with your lender.
We do not estimate private mortgage insurance. Enter the monthly premium your lender quotes.
Enter a rate
Amount financed: $0
AHFC loans need a lender quote, not a built-in formula
Alaska Housing Finance Corporation (AHFC) is not a single loan product, and it does not lend directly on its single-family programs. An AHFC-approved lender originates the loan. That is why this tab does not invent a payment.
AHFC's official general requirements list these conventional down-payment minimums: 5% for a single-family home, 10% for a duplex and 20% for a triplex or fourplex. If the loan is FHA, VA, HUD or USDA (Rural Development) insured or guaranteed, AHFC says the insurer or guarantor sets the down-payment rules. AHFC also offers a 97% loan-to-value option, which allows a 3% down payment and adds 0.25 percentage points to the annual rate.
AHFC does not publish a mortgage insurance premium we can apply to a payment. Its program pages describe several products, including First Home, First Home Limited, the Veterans Mortgage Program, Uniquely Alaskan and Rural loans, each with its own rate structure, occupancy rules and, in some cases, income or acquisition limits. We do not guess those figures. Use AHFC's official program and limits pages, and enter the rate your lender quotes, including any 0.25% adjustment for the 97% option, on the Conventional, FHA, VA or USDA tab.
Rural owner-occupied loans are a separate case: AHFC requires mortgage insurance when the down payment is less than 10%, and loans above $250,000 receive a blended interest rate. Confirm those details with a lender if the property is in a small community under AHFC's definition.
AHFC publishes current income and acquisition limits on its own site. Those limits change, so this page does not repeat them.
You enter the rate. We do the payment math.
The monthly principal-and-interest payment uses the standard fixed-rate amortization formula: the loan amount, times the monthly interest rate, times (1 + the monthly rate) raised to the number of payments, divided by that same factor minus one. If the rate is zero, the payment is the loan amount divided by the number of months. That is the same formula used on a standard amortization schedule. It is not a quote.
What you have to enter
Interest rate, property taxes and homeowners insurance are left blank on purpose. Rates change and are quoted by lenders, not by real estate agents. Alaska property tax is set by borough, city and tax district, so a single built-in mill rate would be misleading. Insurance premiums vary by home.
You can switch the down payment between dollars and percent, and taxes or insurance between a yearly and a monthly amount. Optional HOA dues and, on a conventional loan, PMI are added only if you enter them.
What the loan-type tabs change
Conventional, FHA, VA and USDA tabs apply that program's published down-payment starting point and, where the agency publishes a fee or insurance table, the official fee math. Sources are listed at the bottom of this page and were checked November 13, 2026 (America/Anchorage). If an official page differs, the official page controls.
The AHFC tab is an explanation with official links, not a formula. AHFC loans are originated by participating lenders and can use conventional, FHA, VA or USDA rules, so there is no single payment we can honestly calculate without guessing.
This page does not approve a loan, reserve a rate or replace a Loan Estimate. James and Ryan are real estate agents, not lenders. If you are still deciding what a home might be worth, start with the Alaska home value calculator or the Anchorage home value estimator, then come back here. For program rules, read Alaska home loans.
Enter your own tax figure. Rates vary by borough and city.
A mill is $1 of tax per $1,000 of taxable value (assessed value minus any exemptions). That tax is billed by the borough or municipality, and often by a city or service area on the same bill. There is no single Anchorage rate or Mat-Su rate that applies to every property, so this calculator does not fill one in.
Municipality of Anchorage
Use the official mill-levy table or a current tax bill for the district that includes the home. Eagle River and Chugiak are billed under the municipal tax-district system, not the Mat-Su Borough.
Matanuska-Susitna Borough
The borough areawide mill rate is only one line on the bill. City levies and service-area rates may be added. Palmer levies a city property tax on top of the borough rate. Wasilla's city levy is published separately in city ordinances.
A walkthrough of local rates
Our cost of living guide explains how mills work and links the same official sources, including the City of Palmer budget documents. Use those figures, then type your annual or monthly tax into the calculator.
The Alaska Department of Revenue, Personal Income Tax page states that Alaska currently does not have an individual income tax. Its Sales and Use Tax page states that the state does not have a sales and use tax. Some cities levy a local sales tax. Those facts affect take-home pay and everyday costs; they do not replace the property tax you enter here. Federal income tax still applies.
What each tab uses, and what it does not guess
Conventional loans
The tab starts at a 5% down payment, which you can change. Fannie Mae says HomeReady allows down payments as low as 3% for borrowers who meet its income limits. The CFPB notes that private mortgage insurance is typically required when the down payment is less than 20%. Enter the monthly PMI your lender quotes. We do not invent a PMI rate.
FHA loans
HUD's published minimum down payment is 3.5% for borrowers with a credit score of 580 or higher. Borrowers with scores of 500 to 579 may be limited to 90% financing (10% down). Upfront MIP is 1.75% of the base loan amount. Annual MIP comes from HUD Mortgagee Letter 2023-05, still the table in Handbook 4000.1, Appendix 1.0 (Update 18, August 12, 2026). The $726,200 base-loan threshold in that table is HUD's published breakpoint, not a loan limit.
VA loans
VA-backed purchase loans can be made with no down payment and, VA says, without monthly mortgage insurance. A one-time funding fee may apply unless you are exempt. The fee percentages used here are from VA's funding-fee chart, effective April 7, 2023 and current on VA's page as of October 5, 2026. Read more in our VA loans in Alaska guide.
USDA Guaranteed Loans
For fiscal year 2027 (October 1, 2026, through September 30, 2027), USDA sets an upfront guarantee fee of 1.00% and an annual fee of 0.35% of the average scheduled unpaid principal balance. The property must be in an eligible rural area, and the household must meet income limits of 115% of area median income. We do not decide eligibility. Check the USDA property eligibility map.
AHFC programs
Use the AHFC tab for official links, not a payment. AHFC loans run through participating lenders. Pick Conventional, FHA, VA or USDA and enter the rate your AHFC-approved lender quotes. Program overviews are in Alaska home loans and first-time home buyer programs.
Planning a purchase? Talk with James or Ryan
We help you size a budget, time the lender conversation and write an offer that fits the loan you plan to use. We do not quote rates or originate loans. The payment estimate on this page is a planning tool, not a lender quote.
James Cash
Broker, Keller Williams Realty Alaska Group
Works with buyers across Anchorage, Eagle River and the Mat-Su Valley, from the first plan through closing.
james@herorealtygroup.com
Ryan Lunski
Licensed Alaska Real Estate Salesperson
A military veteran who works with buyers and military families relocating to Southcentral Alaska.
ryan@herorealtygroup.comWe are real estate agents, not lenders. We can help you plan when to talk with a lender, what your offer needs and how loan deadlines fit your contract. Only a licensed mortgage loan originator can review your application, confirm what you qualify for and quote rates or terms. You can check any loan originator's license at NMLS Consumer Access.
Alaska mortgage calculator questions
How does this Alaska mortgage calculator work?
You enter a home price, down payment, the interest rate a lender has quoted you, the loan term, and your own property tax, insurance and optional HOA figures. The calculator uses the standard fixed-rate amortization formula for principal and interest, then adds those monthly costs and any mortgage insurance or annual fee that applies to the loan type you select. It is an estimate, not a Loan Estimate or a pre-approval.
Why don't you fill in an interest rate for me?
We do not publish mortgage rates. Only a licensed mortgage loan originator can quote a rate or say what you qualify for. Leave the rate blank until you have a quote, or use the clearly labeled 6.5% example to see how the math works. That example is not a current market rate.
How do I estimate property taxes in Anchorage or the Mat-Su Valley?
Enter the annual or monthly amount from a current tax bill, or calculate it from the official mill rate for that tax district. A mill is $1 of tax per $1,000 of taxable value. Rates vary by borough, city and service area, so this calculator does not fill in a mill rate. Official starting points are the Municipality of Anchorage tax-bill guide, the Matanuska-Susitna Borough property tax page, and our cost of living guide.
Does Alaska have a state income tax or a state sales tax?
The Alaska Department of Revenue states that Alaska currently does not have an individual income tax and does not have a state sales and use tax. Some cities levy a local sales tax. Federal income tax still applies. Those facts do not replace the local property tax you enter in the calculator.
What is included in the estimated monthly payment?
When you enter a rate, the total includes principal and interest, the monthly share of the property taxes and homeowners insurance you entered, any HOA dues, and mortgage insurance or an annual fee when it applies. It does not include utilities, heat, well or septic upkeep, or closing costs due at the table.
How do FHA, VA and USDA loans change the payment?
The FHA tab adds HUD's 1.75% upfront MIP, which you can finance, and the official annual MIP table. The VA tab adds the official funding fee unless you mark an exemption, and it does not add monthly mortgage insurance. The USDA tab uses the fiscal year 2027 upfront fee of 1.00% and annual fee of 0.35%. Conventional PMI is added only if you type in the monthly amount your lender quotes.
Can I use this calculator for an AHFC loan?
You can estimate a payment by choosing the Conventional, FHA, VA or USDA tab that matches the loan your AHFC-approved lender is originating, then entering the rate that lender quotes, including any 0.25% adjustment for AHFC's 97% loan-to-value option. The AHFC tab itself is an explanation with official links, not a formula, because AHFC is a family of programs with limits and rate structures we do not guess.
Is this a loan pre-approval or a rate quote?
No. This is an educational estimate for planning. James Cash and Ryan Lunski are real estate agents, not lenders. A licensed mortgage loan originator has to review your application, confirm what you qualify for and issue any pre-approval or Loan Estimate. You can check a loan originator's license at NMLS Consumer Access.
How can I estimate a home's value before I run the payment?
Use the Alaska home value calculator for Southcentral areas, or the Anchorage home value estimator for Anchorage and nearby communities such as Eagle River, Chugiak, Girdwood and Indian. Both are estimates based on recent sales, not appraisals. You can also browse homes for sale and come back to this page with a list price.
Guides to use with this calculator
Estimate a payment, then read the loan guide that matches your situation, or start with a home value estimate.
Financing guides
Home value and selling
Homes for sale
Where the program details came from
Checked November 13, 2026 (America/Anchorage). Program rules change. If an official page differs from this summary, the official page controls.
- Standard fixed-rate amortization formula, used for principal and interest only. This is an estimate, not a lender quote.
- U.S. Department of Housing and Urban Development, Mortgagee Letter 2023-05 (annual and upfront MIP, effective March 20, 2023) and Handbook 4000.1, Appendix 1.0, Update 18 (August 12, 2026). FHA Myths vs. Facts (June 2025) for the 3.5% down-payment minimum and the 580 / 500-579 credit-score note.
- U.S. Department of Veterans Affairs, VA funding fee and closing costs (effective April 7, 2023; page last updated October 5, 2026) and the VA purchase loan page.
- USDA Rural Development, Fiscal Year 2027 Conditional Commitment Notice (September 16, 2026): upfront guarantee fee of 1.00% and annual fee of 0.35% for FY 2027 (October 1, 2026, through September 30, 2027). Single Family Housing Guaranteed Loan Program and the property eligibility site.
- Fannie Mae, HomeReady Mortgage (3% down, income limits).
- Consumer Financial Protection Bureau, What is private mortgage insurance?.
- Alaska Housing Finance Corporation, General Requirements, 97% Loan-to-Value Option, List of All Loans, Rural Loans and First-Time Homebuyer Loans.
- Alaska Department of Revenue, Personal Income Tax and Sales and Use Tax.
- Municipality of Anchorage, Read Your Tax Bill; Matanuska-Susitna Borough, Your Property Taxes. See also our cost of living tax section.
- Nationwide Multistate Licensing System, NMLS Consumer Access.
KELLER WILLIAMS REALTY ALASKA GROUP
Properties of Alaska by HERO Realty Group
A team at Keller Williams Realty Alaska Group, 621 S Knik Goose Bay Rd, Wasilla, AK 99654 · Office 907-360-7448
Properties of Alaska is a real estate team, not a mortgage lender or loan originator. Information on this page is general education, not a loan offer, a commitment to lend or financial, tax or legal advice.
Each office is independently owned and operated.
Equal Housing Opportunity
Photo: iStock.com/Alan Musy - ADM PhotoGraphics