Anchorage, AK Mortgage Calculator
Calculate your estimated mortgage payment for a home in Anchorage, AK. Pre-filled with Anchorage's average home price of $355,000, local property tax rate of 1.32%, and typical insurance costs.
$355,000
Avg. Home Price
1.32%
Property Tax Rate
$1,400
Avg. Annual Insurance
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? Monthly payment PITI with taxes & insurance included
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? Bi-weekly payment PITI if paid every other week
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? The date of the last payment
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? The date of the last bi-weekly payment
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? Total interest paid
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? Total interest paid if bi-weekly payments made
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? Monthly property tax paid (included in above PITI payment)
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? Monthly Home Insurance paid (included in above PITI payment)
Anchorage, AK Mortgage Overview
The average home in Anchorage costs around $355,000. With a 20% down payment of $71,000, you would need a loan of $284,000.
Anchorage homeowners pay a property tax rate of approximately 1.32%, which translates to about $4,686 per year on the average home. Annual homeowners insurance in Anchorage averages around $1,400.
What Affects Your Anchorage Mortgage Payment?
Your monthly PITI payment in Anchorage includes four components:
- Principal — the portion that reduces your loan balance
- Interest — the cost of borrowing, based on your rate and remaining balance
- Taxes — Anchorage’s property taxes average 1.32%, higher than the Alaska state average of 1.19%
- Insurance — homeowners insurance in Anchorage averages $1,400/year
Tips for Anchorage Home Buyers
- Compare rates from multiple Anchorage lenders — even a 0.25% rate difference can save tens of thousands over the life of your loan
- Check your credit score before applying — a higher score means better rates
- Consider bi-weekly payments — paying every two weeks instead of monthly can shave years off your mortgage
- Factor in PMI — if your down payment is less than 20%, you’ll pay Private Mortgage Insurance until you reach 80% loan-to-value
- Look at Anchorage first-time buyer programs — many Alaska cities offer down payment assistance or reduced rates for first-time buyers
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