Can I Afford a $150K Home in Alaska?
Complete mortgage breakdown for a $150,000 home in Alaska, including monthly payments, property taxes, insurance, and the salary you need to qualify.
Estimated Monthly Payment (20% down)
$1,027/mo
P&I: $788 + Tax: $130 + Insurance: $108
Monthly Payment by Down Payment
| Down Payment | Amount | Monthly | Income Needed |
|---|---|---|---|
| 3% | $4,500 | $1,255 | $53,777 |
| 5% | $7,500 | $1,234 | $52,879 |
| 10% | $15,000 | $1,181 | $50,633 |
| 20% | $30,000 | $1,027 | $43,999 |
Monthly Cost Breakdown (Alaska)
Principal & Interest
$788/mo
Property Tax (1.04%)
$130/mo
Homeowners Insurance
$108/mo
Total Interest (30-yr)
$163,793
Affordability Rules of Thumb
28% Rule (Housing)
$43,999/yr
Minimum gross income
36% Rule (All Debt)
$34,222/yr
If no other debt
3Ã Income Rule
$50,000/yr
Conservative target
Buying a $150K Home in Alaska
A $150,000 home in Alaska is at or below the national median home price. With a 20% down payment of $30,000, your estimated monthly payment of $1,027 is achievable on a salary of $43,999 or more. Alaska's property tax rate of 1.04% is near the national average.
These estimates assume a 6.875% 30-year fixed mortgage rate. Use our mortgage calculator for custom scenarios, or check what salary you can afford in Alaska.