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2025 FHA Loan Limits in Alaska

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If you’re ready to buy a home, but don’t have much money saved up, a loan backed by the Federal Housing Administration (FHA) could help. The minimum required down payment for an FHA loan can be as low as 3.5%. Credit score requirements are also more accessible.

There are limits to how much you can borrow, though, depending on a home’s location. In most Alaska counties, the FHA loan limit is $524,225. However, a few Alaska counties allow single-family home buyers to borrow up to $586,500.

Alaska FHA loan limits by county

Alaska single-family FHA loan limits

County name	One unit	Two units	Three units	Four units	Median sales price
ALEUTIANS EAST	$524,225	$671,200	$811,275	$1,008,300	$221,000
ALEUTIANS WEST	$585,350	$749,350	$905,800	$1,125,700	$509,000
ANCHORAGE	$524,225	$671,200	$811,275	$1,008,300	$430,000
BETHEL	$524,225	$671,200	$811,275	$1,008,300	$163,000
BRISTOL BAY	$524,225	$671,200	$811,275	$1,008,300	$341,000
CHUGACH	$524,225	$671,200	$811,275	$1,008,300	$299,000
COPPER RIVER	$524,225	$671,200	$811,275	$1,008,300	$299,000
DENALI	$524,225	$671,200	$811,275	$1,008,300	$306,000
DILLINGHAM	$524,225	$671,200	$811,275	$1,008,300	$260,000
FAIRBANKS NORTH STAR	$524,225	$671,200	$811,275	$1,008,300	$315,000
HAINES	$524,225	$671,200	$811,275	$1,008,300	$269,000
HOONAH-ANGOON	$524,400	$671,300	$811,450	$1,008,450	$454,000
JUNEAU	$553,150	$708,150	$855,950	$1,063,750	$476,000
KENAI PENINSULA	$524,225	$671,200	$811,275	$1,008,300	$316,000
KETCHIKAN GATEWAY	$524,225	$671,200	$811,275	$1,008,300	$406,000
KODIAK ISLAND	$541,650	$693,400	$838,150	$1,041,650	$471,000
KUSILVAK	$524,225	$671,200	$811,275	$1,008,300	$111,000
LAKE AND PENINSULA	$524,225	$671,200	$811,275	$1,008,300	$225,000
MATANUSKA-SUSITNA	$524,225	$671,200	$811,275	$1,008,300	$430,000
NOME	$524,225	$671,200	$811,275	$1,008,300	$368,000
NORTH SLOPE	$524,225	$671,200	$811,275	$1,008,300	$193,000
NORTHWEST ARCTIC	$524,225	$671,200	$811,275	$1,008,300	$228,000
PETERSBURG	$524,225	$671,200	$811,275	$1,008,300	$350,000
PRINCE OF WALES	$524,225	$671,200	$811,275	$1,008,300	$297,000
SITKA	$586,500	$750,800	$907,550	$1,127,900	$491,000
SKAGWAY	$524,400	$671,300	$811,450	$1,008,450	$454,000
SOUTHEAST FAIRBANKS	$524,225	$671,200	$811,275	$1,008,300	$299,000
WRANGELL	$524,225	$671,200	$811,275	$1,008,300	$350,000
YAKUTAT	$524,225	$671,200	$811,275	$1,008,300	$236,000
YUKON-KOYUKUK	$524,225	$671,200	$811,275	$1,008,300	$117,000

How are FHA loan limits determined?

FHA loan limits are set by the FHA and are based, in part, on median home prices in a region. The FHA uses a formula outlined by the National Housing Act (NHA) to determine maximum loan amounts and revises the loan limits every year, depending on how median home prices and other factors have shifted.

In addition to home costs, the FHA also considers the maximum allowable loan amount for conforming loans backed by Fannie Mae and Freddie Mac, as well as local building costs.

For example, if an area’s home prices are significantly above average compared to other parts of the state, then that region may be designated by the FHA as a “high-cost” area. There, borrowers are more likely to need bigger loans to achieve homeownership than buyers in more typically priced areas. So the FHA allows them to borrow more overall. Regions with lower median home prices, by contrast, are referred to by the FHA as “low-cost” areas and therefore have smaller loan caps.

The difference between loan caps in “high-cost” areas and “low-cost” ones isn’t nearly as stark in Alaska as in other states. In the state’s costliest county, for example, maximum loans for single-family homes are set at $586,500. By comparison, loans for single-family homes in “low-cost” areas (which are designated as the “floor” for FHA loans) are capped at $524,225.

The FHA also offers a special exception for homebuyers in Alaska due to higher construction costs. Alaska is one of the few states where the “ceiling” for FHA loans is as high as $1,814,625.

How to qualify for an FHA loan in Alaska

If you don’t have much credit history or missed some bills in the past, causing your credit score to fall, you may find it easier to qualify for an FHA loan than a conventional mortgage.

The credit score requirements for FHA loans are designed to be less stringent. For example, homebuyers may qualify for an FHA loan even if their credit score is between 500 and 580.

You may also qualify for an FHA loan even if your savings are limited. Homebuyers who don’t have a lot of cash available for a down payment can put down as little as 3.5% with an FHA loan.

To qualify for an FHA loan in Alaska, you’ll need:

A minimum credit score between 500 and 580: If you can only afford to spend 3.5% of a home’s purchase price on a down payment, you’ll need a minimum credit score of at least 580 or higher. But if you’ve saved at least 10% for your down payment, you may qualify for an FHA loan with a credit score in the 500 to 579 range.
A minimum 3.5% to 10% down payment: As long as you save 3.5% to 10% of a home’s purchase price in cash, you should be able to cover the home’s down payment (assuming you also have enough cash available for closing costs and other mortgage expenses).
Occupy the home: FHA mortgages can only be used to buy a home that will be your primary residence, so you must live in the home for at least a year.
Debt-to-income (DTI) ratio of 43% or less: Lenders want to know you can afford your mortgage, so they will look at your DTI ratio, which measures how much of your income goes toward monthly debt payments. With FHA loans, lenders generally will only approve borrowers with a DTI of no more than 43%.
Mortgage insurance premiums: You’ll be required to pay two forms of FHA mortgage insurance. You’ll pay an upfront fee of 1.75% of the loan amount, in addition to an annual premium of 0.15% to 0.75% of the loan amount that’s spread out across your monthly mortgage payments.

Buying a multifamily property with an FHA loan

It’s also possible to use an FHA loan to purchase a multiunit investment property that you intend to rent out or co-buy a multifamily home with friends or extended relatives, a strategy known as house hacking.

The down payment requirements are the same for FHA loans that are used to finance multifamily properties. So it can be an attractive option for investors and other homebuyers who want to avoid a large down payment.

To qualify for an FHA loan for a multifamily home, you’ll need: