Commercial Loan Direct (CLD) provides commercial real estate loans in Alaska. Current commercial loan rates in Alaska range from 5.14% to 12.9% depending on the loan program.
Alaska Apartment Loan Rates
| Loan Types | Rates | LTV | Loan Amount |
|---|---|---|---|
| Fannie Mae | 5.61% - 6.41% | 80% | $700,000+ |
| Freddie Mac | 5.91% - 9.38% | 80% | $1,000,000+ |
| FHA | 5.02% - 6.37% | 83.3% | $5,000,000+ |
| Conduit / CMBS | 5.78% - 7.71% | 75% | $2,000,000+ |
| Insurance | 5.28% - 8.55% | 75% | $5,000,000+ |
| USDA | 6.15% - 8.9% | 85% | $1,000,000+ |
| Bridge | 5.9% - 12.9% | 80% | $1,500,000+ |
| Construction | 5.65% - 8.9% | 83.3% | $1,000,000+ |
| Conventional | 5.14% - 8.9% | 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 affectthe displayed commercial loan rates. Commercial loan rates may change at any time and without notice.
Ready to Get a Multifamily Loan Quote in Alaska?
Alaska Interest Rates starting at 5.14%. Tell us about your property and financing goals. We will match your request with lending options based on program fit and current market conditions.
Get a QuoteAdditional Multifamily Types
Additional Multifamily Mortgages
- Affordable Housing Financing
- Student Housing Financing
- Military Housing
- Manufactured Housing Financing
- Seniors Housing Financing
- Cooperative Housing
Locations Served in Alaska
We are proud to be serving the state of Alaska. Here are our commercial loan statistics for this state.
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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.
- 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
