Mortgage Rates in Craig, Alaska — March 2026
Updated March 2026 | Based on Craig market data and regional lending conditions
Craig is a growing city in Alaska with a population of 1,036. The current 30-year fixed mortgage rate in Craig is 6.8%, which is 0.15% above the national average. With a median home price of $219,000 and a 20% down payment of $43,800, homebuyers can expect a monthly principal and interest payment of approximately $1,142.
Current Mortgage Rates in Craig, AK
Below are the current average mortgage rates available in the Craig area as of March 2026. Rates vary by lender, credit score, and loan-to-value ratio. Use our free calculator above to see your personalized estimate.
| Loan Type | Rate | National Avg | Difference |
|---|---|---|---|
| 30-Year Fixed | 6.8% | 6.65% | +0.15% |
| 15-Year Fixed | 6.03% | 5.89% | +0.14% |
| 5/1 ARM | 6.28% | 6.15% | +0.13% |
| FHA | 6.53% | 6.25% | +0.28% |
| VA | 6.28% | 6.05% | +0.23% |
| Jumbo | 7.05% | 6.85% | +0.2% |
Craig Housing Market Overview
The Craig housing market offers relatively affordable housing compared to many major cities. The median household income in Craig is $65,000, and the cost of living index is 122.3 (national average = 100). Based on the 28% affordability rule, the median income in Craig is sufficient to afford the median-priced home.
Monthly Payment Breakdown for Craig
Based on the median home price of $219,000 with 20% down ($43,800), here is what you can expect to pay monthly in Craig:
15-Year vs. 30-Year Mortgage in Craig
Choosing a 15-year mortgage in Craig at 6.03% instead of a 30-year at 6.8% would save you $144,540 in total interest over the life of the loan. However, your monthly payment would be $1,481 instead of $1,142 — an increase of $339 per month.
Calculate Your Craig Mortgage Payment
Use our free calculator to get a personalized estimate based on your loan amount, interest rate, and term.
Open Free CalculatorFrequently Asked Questions About Mortgages in Craig
What are the current mortgage rates in Craig, AK?
As of March 2026, the average 30-year fixed mortgage rate in Craig, Alaska is 6.8%, while the 15-year fixed rate is 6.03%. FHA loans average 6.53% and VA loans 6.28%. These rates are 0.15% above the national average of 6.65%.
How much is a monthly mortgage payment in Craig?
Based on the median home price of $219,000 with 20% down, the estimated monthly mortgage payment in Craig is $1,142 for principal and interest. Including property taxes of $186/month, the total monthly housing cost is approximately $1,328.
What income do I need to buy a home in Craig?
Using the 28% rule, you would need an annual income of approximately $56,914 to afford the median-priced home in Craig at $219,000. The median household income in Craig is $65,000. The median income is currently sufficient to meet this threshold.
Is Craig a good place to buy a home in 2026?
Craig has a higher cost of living than average with a cost of living index of 122.3 (national average = 100). The property tax rate in Alaska is 1.02%, which is near the national average. Craig has a population of 1,036 and offers a balanced lifestyle.
Mortgage Rates in Other Alaska Cities
Related Tools & Guides
Last updated: March 2026. Rates are approximate averages based on regional lending data for the Craig, Alaska area. Individual rates may vary by lender, credit score, loan amount, and other factors. Use our free calculator for a personalized estimate.