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Alaska VA Loans

Deciding to purchase a house in Alaska is a huge financial decision, but with the unique benefits provided by the VA loan, your dream of homeownership just got that much easier.

Published on October 19, 2020

With the average listing price of a home in Alaska landing at $352,701, the VA loan’s signature $0-money-down benefit is a considerable advantage for Alaska homebuyers.

See also: VA Loan Options for Other States

How to get a VA Loan in Alaska

VA loans are made by private lenders and guaranteed by the Department of Veterans Affairs. Because private lenders make the loans and not the VA, you need to find a lender licensed in the state you plan to purchase or refinance.

For example, if you're purchasing a home in Anchorage, AK, you'll need to find a lender licensed in Alaska to do the loan.

Our Lender
Veterans United Home Loans is a VA approved lender; Mortgage Research Center, LLC – NMLS #1907 ( Not affiliated with the Dept. of Veterans Affairs or any government agency. Not available in NV or NY. 1400 Veterans United Dr., Columbia, MO 65203. Equal Housing Lender

Other Considerations for Getting a VA Loan in Alaska

VA borrowers in Alaska should also consider the cost and impact of VA loan limits and property taxes when making their home purchase.

Alaska VA Loan Limits

As of January 1, 2020, VA borrowers in Alaska with their full VA loan entitlement are not restricted by VA loan limits. This means you can borrow as much as a lender is willing to lend without needing a down payment.

However, Veterans without their full VA loan entitlement are still bound to Alaska’s VA loan limits.

Alaska VA Loan Limits by County

County Loan Limit
Aleutians East $765,600
Aleutians West $765,600
Anchorage $765,600
Bethel $765,600
Bristol Bay $765,600
Denali $765,600
Dillingham $765,600
Fairbanks North Star $765,600
Haines $765,600
Hoonah-Angoon Census Area $765,600
Juneau $765,600
Kenai Peninsula $765,600
Ketchikan Gateway $765,600
Kodiak Island $765,600
Kusilvak Census Area $765,600
Lake and Peninsula $765,600
Matanuska Susitna $765,600
Nome $765,600
North Slope $765,600
Northwest Arctic $765,600
Petersburg Census Area $765,600
Prince Of Wales-Hyder Census Area $765,600
Sitka $765,600
Skagway $765,600
Southeast Fairbanks $765,600
Valdez Cordova $765,600
Wrangell $765,600
Yakutat $765,600
Yukon Koyukuk $765,600
All other areas $548,250

Property Taxes in Alaska

Another consideration for VA buyers in Alaska is property taxes. For certain VA buyers, there are exemptions.

You may receive a property tax exemption if the Veteran is 50 percent or more disabled due to service. This exemption can be up to $150,000 of the assessed value of his/her primary residence. If the Veteran is deceased from a service-connected cause, the exemption will transfer to a surviving spouse.

If you are required to pay property tax in Alaska, the American Community Survey by the U.S. Census Bureau estimates you may pay the following in each county:

County Property Tax Rate
Aleutians West Census Area 1.08%
Anchorage Municipality 1.32%
Bristol Bay Borough 0.99%
Dillingham Census Area 1.28%
Fairbanks North Star Borough 1.18%
Haines Borough 0.71%
Hoonah-Angoon Census Area 0.44%
Juneau City and Borough 0.93%
Kenai Peninsula Borough 0.67%
Ketchikan Gateway Borough 0.79%
Kodiak Island Borough 1.16%
Matanuska-Susitna Borough 1.17%
Nome Census Area 1.29%
North Slope Borough 1.30%
Northwest Arctic Borough 1.10%
Petersburg Borough 0.75%
Prince of Wales-Hyder Census Area 0.27%
Sitka City and Borough 0.54%
Skagway Municipality 0.44%
Southeast Fairbanks Census Area 1.11%
Valdez-Cordova Census Area 1.15%
Wrangell City and Borough 0.66%
Yakutat City and Borough 0.66%
Yukon-Koyukuk Census Area 0.56%

How VA Loans Work in Alaska

View the graphic below to learn more about how VA loans work in Alaska.

How Alaska VA Loans work How Alaska VA Loans work How Alaska VA Loans work