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Multifamily & Apartment Financing in Alaska

Commercial Loan Direct (CLD) provides apartment loans in Alaska. Current apartment loan rates in Alaska range from 4.93% to 12.95%, depending on the loan program.

Alaska Apartment Loan Rates

Loan Types Rates LTV Loan Amount
Fannie Mae 5.66% - 6.46% 80% $700,000+
Freddie Mac 5.96% - 9.43% 80% $1,000,000+
FHA 4.84% - 6.19% 83.3% $5,000,000+
Conduit / CMBS 5.81% - 7.74% 75% $2,000,000+
Insurance 5.31% - 8.59% 75% $5,000,000+
USDA 6.2% - 8.95% 85% $1,000,000+
Bridge 5.95% - 12.95% 80% $1,500,000+
Construction 5.7% - 8.95% 83.3% $1,000,000+
Conventional 4.93% - 8.95% 80.0% $1,000,000+

For more in-depth multifamily interest rates, please visit our Apartment Loan Rates page.

Note: The commercial mortgage rates displayed in this website should be used as a guideline and do not represent a commitment to lend. Commercial Loan Direct and CLD Financial, LLC are not liable for any commercial mortgage interest rate or data entry errors that might affect the displayed commercial loan rates. Commercial loan rates may change at any time and without notice.

Additional Multifamily Types

Additional Multifamily Mortgages

Locations Served in Alaska

We are proud to be serving the state of Alaska. Here are our commercial loan statistics for this state.

Alaska Cities and Towns Served

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The multifamily financing market in Alaska for 2026 is defined by a landscape of high demand and limited inventory. Financing in the "Last Frontier" often requires a specialized approach due to higher construction costs and unique logistics. As of February 2026, the market is benefiting from stabilizing benchmark rates, with the 10-year Treasury hovering around 4.21%, providing a more predictable environment for long-term debt.

Key Financing Sources and Programs

In Alaska, financing typically funnels through a mix of state-specific programs and federal agencies that offer specialized terms for the state’s unique geography.

  • Alaska Housing Finance Corporation (AHFC): The state’s primary resource. The AHFC offers the Multi-Family Loan Purchase Program, where they participate with approved lenders to provide financing for buildings with five or more units. In early 2026, commercial loan rates for projects over $1,000,000 are quoted near 7.00%.
  • Low-Income Housing Tax Credit (LIHTC): Managed by AHFC, this remains the critical driver for affordable housing. For 2026, AHFC has introduced a $50,000 allocation fee for all LIHTC projects (effective for 4% projects submitted after January 28, 2026) to manage the increased demand for mission-driven housing.
  • HUD Multifamily (FHA): The HUD 221(d)(4) and 223(f) programs are heavily used in hubs like Anchorage and Fairbanks. These programs provide non-recourse, high-leverage financing with terms extending up to 40 years, which helps offset the high cost of Alaskan labor and materials.
  • Rural Housing Programs: For developments outside major hubs, the Rural Commercial Loan program offers targeted interest rates (currently around 6.25%) for smaller-scale multifamily projects up to $250,000.

Market Trends and Economic Drivers

The 2026 outlook for Alaska is shaped by severe supply constraints and a focus on operational efficiency:

  • Inventory Scarcity: Alaska is currently experiencing historic lows in housing inventory. This has kept occupancy rates high and vacancy rates low, making stabilized multifamily assets highly attractive to "yield-play" investors.
  • Logistics & Construction Costs: Financing for new construction must account for "Alaskan premiums." Shipping materials and limited seasonal building windows mean that bridge-to-permanent financing is common, allowing developers to manage the volatile construction phase before locking in long-term rates.
  • Energy Efficiency Incentives: Given the climate, many lenders and state programs prioritize energy-efficient upgrades. Projects meeting specific thermal standards often qualify for interest rate reductions or specialized AHFC "Energy" loan options.
  • Institutional Stability: Federal agencies (Fannie Mae and Freddie Mac) have a combined $176 billion purchase cap for 2026, with 50% dedicated to mission-driven housing, ensuring that Alaskan developers have a steady pipeline of liquidity for affordable units.

Lending Cities

Commercial loan direct provides services in the following Alaska cities. Please note we may be able to provide services in other cities as well by request. Rates are dependent on the market in your locale, feel free to use the provided Alaska economic reports to get a better understanding of your market.

  • Akutan
  • Aleutians East Borough
  • Aleutians West Census Area
  • Anchor Point
  • Anchorage
  • Anchorage Municipality
  • Badger
  • Barrow
  • Bear Creek
  • Bethel
  • Bethel Census Area
  • Big Lake
  • Bristol Bay Borough
  • Butte
  • Chevak
  • City and Borough of Wrangell
  • Cohoe
  • College
  • Cordova
  • Craig
  • Deltana
  • Denali Borough
  • Diamond Ridge
  • Dillingham
  • Dillingham Census Area
  • Dutch Harbor
  • Eagle River
  • Eielson Air Force Base
  • Elmendorf Air Force Base
  • Ester
  • Fairbanks
  • Fairbanks North Star Borough
  • Farm Loop
  • Farmers Loop
  • Fishhook
  • Fritz Creek
  • Gateway
  • Girdwood
  • Haines
  • Haines Borough
  • Healy
  • Homer
  • Hoonah-Angoon Census Area
  • Hooper Bay
  • Houston
  • Juneau
  • Kalifornsky
  • Kenai
  • Kenai Peninsula Borough
  • Ketchikan
  • Ketchikan Gateway Borough
  • King Cove
  • Knik-Fairview
  • Kodiak
  • Kodiak Island Borough
  • Kodiak Station
  • Kotzebue
  • Lake and Peninsula Borough
  • Lakes
  • Lazy Mountain
  • Matanuska-Susitna Borough
  • Meadow Lakes
  • Metlakatla
  • Nikiski
  • Nome
  • Nome Census Area
  • North Pole
  • North Slope Borough
  • Northwest Arctic Borough
  • Palmer
  • Petersburg
  • Petersburg Borough
  • Prudhoe Bay
  • Ridgeway
  • Salcha
  • Sand Point
  • Seward
  • Sitka
  • Sitka City and Borough
  • Skagway Municipality
  • Soldotna
  • Southeast Fairbanks Census Area
  • Sterling
  • Sutton-Alpine
  • Tanaina
  • Tok
  • Unalaska
  • Valdez
  • Valdez-Cordova Census Area
  • Wasilla
  • Willow
  • Wrangell
  • Y
  • Yakutat City and Borough
  • Yukon-Koyukuk Census Area

Commercial Loan FAQs in Alaska

Multifamily interest rates in Alaska vary based on loan type, property type, loan-to-value, debt service coverage ratio, borrower strength, and market conditions. They range from approximately 4.93% to 12.95%.

Borrowers in Alaska can access Conventional, CMBS/Conduit, Insurance, FHA/HUD, USDA, Bridge, Construction, and SBA financing based on property type, leverage, and occupancy.

Multifamily loan rates in Alaska depend on loan type, property cash flow, debt service coverage ratio, loan-to-value, borrower strength, and market conditions.

Yes. Owner-occupied financing is available in Alaska, including Conventional, Insurance, SBA, USDA, and selected agency programs when eligibility requirements are met.

Yes. Refinance options in Alaska include rate-and-term and cash-out structures, subject to underwriting, property performance, and lender program guidelines.

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